The $60,000 Proof of Concept Grant competition is OPEN
The annual Proof of Concept Grant competition is open for applications. As an established feature of the University of Otago’s calendar, the Otago Innovation POC Grant is in its thirteenth year.
It is an opportunity for Academics, Post-docs and PhD candidates to test their commercially prospective ideas in front of an expert panel of mainly external judges.
The winner of the Grant will receive $60,000 to help further validate their idea.
The judges will see a lot more than one idea worth investing in, and so it will not just be the winner who may benefit from submitting an application. In past years several entries have been taken forward with Otago Innovation.
The UoO is strongly embracing the idea of commercialisation as a valuable way to increase research impact.
A couple of years ago we instigated the idea of inviting potential investors/partners to the presentations and judging. People often tell us they wish to take a look at projects early. We reasoned that they (Investors) may as well take a look at new ideas out of Otago at the same time as we first do, and so each year since many people come and go throughout the two days of judging.
Over the last 13 years the submissions have included ideas ranging from human therapeutics, biomarkers, software development to improved technology in household devices.
If you have a great idea, then feel free to contact any of our Commercialisation Managers if you wish. They will be happy to take a look. You can apply on-line with this link https://secure-www.otago.ac.nz/proof-of-concept/
Alternatively, you can download the word version of the application form. Just contact Vicki on our team to chat further.
Proof of Concept Competition 2019 - Meet the experts
Discover the technology transfer experience of University of Otago academics in our video series, or meet the 2019 expert panel of judges who makes the decision on who wins the $60,000. Finally, get an insight into the investment companies that will be present during the judging.
The Proof of Concept Video Series has been prepared to give you insight into the world of technology transfer. Listen to three University of Otago staff members talk about their experience and how their work is making an impact through commercialisation and their path to getting investor buy in. The series is available on the unviersity of Otago YouTube page. Just follow this link https://bit.ly/2HMA1d6
Associate Professor Chris Pemberton (Medicine, UoO Christchurch) shares his story of a novel idea, securing Intellectual Property, getting investment and forming a company.
Dr Lyn Wise (Pharmacology & Toxicology, UoO) shares her story. The idea and how the path to getting investment was harder than she first thought. The market wasn’t ready.
Professor Alison Heather talks about her novel Androgen Product. A biotechnology product based on detecting chmicals that illicit that natural biological response to steriod hormones.
Professor Stephen Duffull from the School of Phamracy chats about his Pharmacy Simulation Software that attracted US investment.
Meet the 2019 Expert Judging Panel
On Wednesday 29th and Thursday 30st of May 2019, Otago Innovation brings together expert innovators in the technology transfer space. Over the two days we will have an expert judging panel that represents precisely what makes the experience of commercialising University technologies so unique. Representing a cross section of University Commercialisation, Investment, Intellectual Property Management, Government and the Private Sector the panel comes from across New Zealand to meet with you and hear about your innovations. If your application is short-listed you will have a chance to pitch face-to-face to the panel and get expert feedback on your technology. It's unusual to find such a panel of experts all in the same room, so we hope it is of great benefit to you.
Dr Andrew Kelley
(Chair of POC Judging), Bio-Pacific Partners
Dr Andrew Kelly has a forty-year career in science and science commercialisation spanning health, food & agriculture. Dr Kelly was the co-founder of BioPacific Ventures, a $100 million life sciences specialist venture capital fund that operated in both New Zealand and Australia. More recently he co-founded BioPacific Partners which has built a centre of expertise in bridging local innovations into international markets via global health, food and agriculture companies.
Dr Kjesten Wiig
Director of Innovative Partnerships at the Ministry of Business, Innovation and Employment
Dr Kjesten Wiig is the Director of Innovative Partnerships at the Ministry of Business, Innovation and Employment. Innovative Partnerships works to enable international companies to connect, collaborate and invest in R&D in New Zealand through the creation of world-leading and enabling environments. While Innovative Partnerships can connect and facilitate across all areas of R&D in New Zealand, current areas of focus include space, unmanned aircraft for cargo and passengers, precision medicine/healthcare, robotics and gaming. In these areas, Innovative Partnerships works to create the types of conditions that enable mutually beneficial partnerships between New Zealand and international companies.
Kjesten was previously National Manager for Commercialisation at the Ministry of Business, Innovation and Employment. Prior to working for the Ministry, Kjesten was a senior drug-discovery scientist in the United States. She was Director of Neuropharmacology at Sention Inc, and Director of Pre-Clinical Research at Galena Corp.
Brian is a tech entrepreneur with over 25 years in product design and commercialisation. He started his career with large global corporates (Nokia-UK, Analog Devices-USA) then founded and ran Zephyr Technology Corp a US based medical device company for 14 years, raising capital in the US then successfully exiting to Covidien (now Medtronic). He has 22 patents in silicon chip design and physiological monitoring. He is now involved with various projects and on several boards.
Hon Pete Hodgson
Pete Hodgson has a veterinary science degree (1973). Pete was elected as MP for Dunedin North in 1990 and was appointed to Cabinet in 1999.
Pete has held a multitude of portfolios including Economic Development; Tertiary Education; Research, Science and Technology, Health, Transport, Commerce, Land Information, Statistics, Energy, Fisheries and Forestry. In 2014, Pete was appointed CEO at Otago Innovation Limited and resigned in 2018. He chairs Callaghan Innovation, and also chairs the Biotech and Life sciences Investment Committee for Return on Science.
Registered Patent Attorney/Intellectual Property Manager, Otago Innovation Ltd
Tomas joined Otago Innovation Limited on 3 April 2017. He is a registered patent attorney with many years’ experience particularly in Life Sciences.
Immediately prior to joining Otago Innovation Ltd Tomas was a patent attorney with Balwins in Auckland and also has experience with large and small pharmaceutical companies and government entities in England and Scotland.
Prior to that, Tomas started his career in IP as a patent examiner at the Intellectual Property Office of New Zealand.
Meet the 2019 investors
Otago Innovation invite experienced investors to take a look at new ideas early in their development. Many investors (from NZ and Australia) come and go throughout the two days of judging, they have all signed Confidentiality Agreements, so your ideas are safe with us. Below is a list of companies that will be represented at this years judging.
Astrolab adopts complex technologies across a range of sectors. Working alongside our early-stage partners, we develop robust venture pathways enabling NZ’s ideas to navigate toward success on the world stage.
Brandon Capital Partners manages the MRCF Collaboration, providing seed and venture capital investment to support the development and international growth of Australian life science companies. We work collaboratively with entrepreneurs to demonstrate the benefit of their technology, thereby creating value for them, their teams and our investors.
WNT Ventures seek technologies out of New Zealand publically funded institutes as well as the private sector. We leverage our commercial backgrounds, our capital and networks and our links within Callaghan Innovation funding to provide early stage, high risk capital investment and incubation of technology to accelerate growth in a targeted manner. Growth is achieved through the utilisation of and co-operation with strong national and global networks of individuals, companies and research institutes and by utilising the internal capabilities within WNT Ventures.
Return on Science is a national research commercialisation programme that delivers new research to market from universities, research institutions, and private companies.
Return On Science connects science and technology with top-tier advice and guidance, strategic management, world leading best practice process, and efficient access to capital. Five specialist world-leading investment committees give projects the domain specific experience and connections that cannot be found elsewhere in New Zealand.
The ICE Angels is a network of New Zealand's leading entrepreneurs, corporate executives, and professional investors that collaboratively invest in and support exceptional teams that are exploiting global opportunities.
Otago Angels facilitates links into the seed/early stage investment marketplace by bringing entrepreneurs/companies and investors together to build new business opportunities. Our focus is typically on early stage technology businesses that are highly scalable and capable of moving quickly into offshore markets.
The Kiwi Innovation Network (KiwiNet) is New Zealand’s network of public research organisations, working together to transform scientific discoveries into marketable products and services.
KiwiNet partners are Plant & Food Research, Callaghan Innovation, AgResearch, Otago Innovation, Landcare Research, Lincoln University, University of Canterbury, Viclink, WaikatoLink, AUT Enterprises Ltd, Cawthron Institute, Environmental Science & Research, NIWA, Scion, GNS Science and Malaghan Institute.