Bridgewest New Zealand COO Rees Ward says this partnership with Callaghan Innovation enables the company to significantly expand its existing commitment to the local technology ecosystem.
"Bridgewest has been in New Zealand for several years already because we believe there is tremendous potential in the local innovation sector and because we’re passionate about the opportunities for New Zealand from a strong pathway to commercialisation.
"We know we have value to add as a strategic partner having successfully incubated US start-ups to be successful multinational companies, and we’re excited to have this opportunity to apply our proven model here under the Technology Incubator programme to help unleash New Zealand’s potential," says Mr Ward.
Bridgewest will establish a Technology Incubator hub in Auckland and is already actively engaging with the innovation ecosystem to identify deep tech ideas that can be commercialised and built into world-class New Zealand companies through the support available beyond the physical hub and the access to grant funding under the programme.
"As a company with significant global scale and wide-ranging deep tech experience, including everything from biotech and pharmaceuticals to UAV and AI technologies, we provide access to not just additional investment capital but our extensive advisor network and global contacts," says Mr Ward.
Innovators and entrepreneurs that are part of Bridgewest’s Technology Incubator will receive advice and support to assist them with the process of commercialising their technologies, as well as to improve their business capabilities, and to facilitate pathways to global markets and investment capital for next stage growth.
"In our view, New Zealand’s diversity and creative culture are particular advantages that could see it play a major part in the fast-growing global innovation economy, with trillions of dollars of opportunity. This underpins a genuine commitment on our part to diversity and inclusiveness within our technology incubator," says Mr Ward.
This also reflects the wider Bridgewest Group’s core values of integrity, tenacity, diversity, accountability, and commitment.
"These values will be central to achieving the objective we share with Callaghan Innovation of driving the rate and pace of commercialisation of deep tech in New Zealand, and enabling locally-developed IP to create high value exports and jobs, and make a significant contribution to GDP," says Mr Ward.
Bridgewest Ventures is part of the Bridgewest Group ("Bridgewest"), a US-based investment company, which also operates a Technology Incubator in San Diego, California. Bridgewest has been successful in its ability to incubate and launch major global innovation-led companies and intends to leverage this experience to replicate the same successful model in New Zealand. Bridgewest’s deep technology experience is wide-ranging and includes UAV technology, IoT and semiconductor, AI and software development, as well as drug discovery and deep research into health technology. It intends to leverage its connections, international reach, and commercialisation experience to transform New Zealand opportunities into world-class companies.
Please refer to Callaghan Innovation’s 16 December 2019 Press Release "Increased support for deep tech startups" for additional details of the Technology Incubator programme.