Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

IT innovation a lesson in growth

Wed, 15 Sep 2004

IT innovation a lesson in growth

IT company Ectus launched today with $320,000 in new funding

---------------------------------

A Waikato based provider of real time, interactive computer video and audio systems is set for international growth following its launch today and the announcement of $320,000 in new funding by Minister for Research, Science and Technology, Pete Hodgson.

The company, Ectus, is a world leading provider of proven and unique online communications technology products with applications in the education, medical and business sectors. Waikato University already uses Ectus technology to provide 20 qualifications online, the highest number of qualifications provided in this way by a single institution in the country.

"This is a great example of the government's Growth and Innovation Framework in action," says Minister for Research, Science and Technology, Pete Hodgson. "Innovative technology such as this continues to drive our economy and is an engine for continued international growth. This government's commitment to supporting both the business and the education sectors is exemplified by the way different sources of funding and support have been brought together to set Ectus up for international expansion."

Ectus is receiving $300,000 from Technology NZ's Technology for Business Growth (TBG) fund. This money will be used to further develop the Ectus MEDIA product. Technology NZ is part of the Foundation for Research, Science and Technology. The company is also the recipient of a $20,000 Enterprise Development Grant from NZ Trade & Enterprise (NZTE) to help promote the products internationally through branding strategy.

This new money is in addition to $1.2 million the company has received from the New Zealand Venture Investment Fund (NZVIF) seed funding provider, Endeavour-icap that is being used for new product development and commercialisation.

Ectus was established by Waikato University specifically to exploit university owned intellectual property through its commercialisation arm, WaikatoLink. Ectus has been supported through its early stages of development by being part of the business incubator at Hamilton's Waikato Innovation Park and is the first company to graduate from it. The Park is jointly funded by Hamilton City Council, WEL Energy Trust and NZTE.

ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word. In reality, Peters will have power only up to the point that he uses it.

By next week, he’ll have become just another junior player in an MMP governing arrangement, battling to hold onto the gains he was promised. More>>

 

Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election