PreSeed investment increase for Scion
For immediate release
29 June 2016
Scion has received a funding boost from the Government’s PreSeed Accelerator Fund (PSAF) announced yesterday by Science and Innovation Minister Steven Joyce.
New PSAF contracts start on 1 July, and Scion has been awarded $1,575,000 over 3 years, a 75 per cent increase from its current PSAF funding of $900,000.
Administered by the Ministry of Business, Innovation and Employment, PSAF is designed to support early stage technology commercialisation activities.
Scion General Manager Research and Investment Russell Burton is delighted that Scion’s application for increased funding was successful.
“Scion has grown PreSeed investment from MBIE based on our excellent track record of commercialisation and the assessors being excited by Scion’s portfolio of opportunities.
“Exciting projects include developing a tool for foresters that rapidly assesses the wood quality of trees prior to harvesting, and developing high performing polymers and materials derived from biological materials,” said Dr Burton.