Scion joins KiwiNet
Scion has joined Kiwi Innovation Network, or KiwiNet, a consortium of 14 other universities, Crown research institutes and entities that are working together to improve commercialisation opportunities for scientific research. The consortium encompasses around 70% of New Zealand’s science capabilities with over 7,000 researchers and a collective spend of nearly $1 billion.
Through KiwiNet, shareholders can tap into tools, contacts, investment and support to help them achieve greater commercial outcomes for their research and for New Zealand.
“Commercialisation is a growing part of what we do,” says Chief Executive Warren Parker. “We work with industry and investors to improve the international competitiveness of New Zealand forestry and its related manufacturing industries. We are looking forward to working within and contributing to KiwiNet, and strengthening our commercialisation capacity and partnerships through KiwiNet’s extensive network."
Some of Scion’s commercial success stories to date include improved tree genetics, the decision support forecasting model ‘Forecaster’ which is used to manage half of New Zealand and Australia’s softwood plantations, wood fibre products such as wood fibre reinforced plastics, and environmental technologies such as TERAX™. A number of other new products are also in the pipeline.
Over the previous calendar year, KiwiNet invested $3,548,437 of PreSeed funding from MBIE into 108 projects. Combined, these are potentially worth $180 million in export earnings. In total, $11.4 million of PreSeed funding has been invested into 342 projects worth potentially $680 million in export revenue. Russell Burton, Scion’s General Manager Research and Investment, sits on the investment committee.