WaikatoLink in International Incubation Initiative
WaikatoLink joins International Incubation Initiative (Icube)
Hamilton, New Zealand, 23 April 2009 - WaikatoLink has been named as one of the first members of the International Incubation Initiative, Icube, launched by Exploit Technologies at the New Zealand Business Forum in Singapore yesterday. Icube was set up to encourage innovation, new opportunities, collaboration and international business linkages through greater access to incubators internationally.
WaikatoLink Chief Executive Mark Stuart says, "Good networks and support services are vital for growing New Zealand businesses wanting to achieve success in overseas markets. Singapore provides a great leveraging platform for our technologies and ventures, particularly due to their interest in innovation and collaboration. There is also an abundance of private sector capital to tap into."
Icube will help start-ups from WaikatoLink, the commercial arm of the University of Waikato, and other participating incubators find business partners, customers and investors in the South East Asia market.
New Zealand Foreign Affairs Minister, the Hon Murray McCully, was a Guest of Honour at the Forum to witness the signing of the Memorandum of Understanding between Exploit Technologies and the new partners. The agreement outlined collaborative activities and services designed to help start-ups increase their global presence, including: provision of a virtual international office, use of office space, extended international incubation for business engagement or research and development, mentoring and advisory services, and access to angel networks.
Mr Boon Swan Foo, Executive Chairman of Exploit Technologies said, "In recent years, the number of global start-ups is growing; and the collective potential of global start-ups as a powerful economic engine begins to emerge. Having a robust network of partners who can provide support services to homegrown start-ups overseas will eliminate some of the risk for these new entrants."
WaikatoLink currently has nine high potential subsidiary companies under incubation. WaikatoLink's successful incubator, VentureLink, has operated for a number of years for ventures based on University of Waikato science and technology. WaikatoLink's incubation expertise was opened up to entrepreneurs and other organisations last year as part of the university's commitment to innovation and regional economic development.
WaikatoLink's Icube membership builds on other global linkages the company has established recently. Last year WaikatoLink partnered with Tsinghua University in Beijing to open up a commercialisation pathway into China; secured a relationship with the Market Access Centre in the US; and joined Singapore's Technology Transfer Network (TTN), an international alliance formed in 2008 to accelerate the commercialisation of technology to industry.
WaikatoLink's Mark Stuart was also invited to present at the New Zealand Business Forum on New Zealand's world-leading research capability in biotechnology and the fit with Singapore's science commercialisation expertise and resources. The presentation and panel discussion outlined thriving partnerships already in existence and considers possibilities for future cooperation.
WaikatoLink Limited is a world class technology development and investment company, with a strong track record in translating research outcomes into commercial technologies. As a wholly-owned subsidiary of the University of Waikato, it achieves this by identifying, managing and commercialising the University's intellectual property. WaikatoLink works closely with industry, investors and researchers to identify and develop market opportunities for new technologies, and plays a key role in University knowledge transfer for economic transformation. Since its establishment in 2002, WaikatoLink has completed numerous licensing deals and established more than 12 start-up companies and joint ventures, which have collectively created more than 138 full-time equivalent jobs and achieved market capitalisation nearing NZ$200 million. Three of its start-ups have already been successfully exited. WaikatoLink's impressive performance is reflected in its top 3% rating when benchmarked against US university technology transfer offices (AUTM survey data).
Exploit Technologies Pte Ltd
Exploit Technologies is the marketing and commercialisation arm of the Agency for Science, Technology and Research (A*STAR) in Singapore. Its mission is to support A*STAR in transforming the economy through commercialising R&D. Exploit Technologies enhances the research output of A*STAR scientists by translating their inventions into marketable products or processes. Through licensing deals and spin-offs with industry partners, Exploit Technologies is a key driver of technology transfer in Singapore. It actively engages industry leaders and players to commercialise A*STAR's technologies and capabilities, bridging the gap from Mind to Market. Exploit Technologies' charter is to identify, protect and exploit promising intellectual property (IP) created by A*STAR's research institutes.