IT innovation a lesson in growth
15 September 2004

A Waikato based provider of real time, interactive computer video and audio systems is set for international growth following its launch today and the announcement of $320,000 in new funding by Minister for Research, Science and Technology, Pete Hodgson.

The company, Ectus, is a world leading provider of proven and unique online communications technology products with applications in the education, medical and business sectors. Waikato University already uses Ectus technology to provide 20 qualifications online, the highest number of qualifications provided in this way by a single institution in the country.

“ This is a great example of the government’s Growth and Innovation Framework in action”, says Minister for Research, Science and Technology, Pete Hodgson. “Innovative technology such as this continues to drive our economy and is an engine for continued international growth. This government’s commitment to supporting both the business and the education sectors is exemplified by the way different sources of funding and support have been brought together to set Ectus up for international expansion”.

Ectus is receiving $300,000 from Technology NZ’s Technology for Business Growth (TBG) fund. This money will be used to further develop the Ectus MEDIA product. Technology NZ is the business unit of the Foundation for Research, Science and Technology. The company is also the recipient of a $20,000 Enterprise Development Grant from NZ Trade & Enterprise (NZTE) to help promote the products internationally through branding strategy.

This new money is in addition to $1.2 million the company has received from the New Zealand Venture Investment Fund (NZVIF) seed-funding provider, Endeavour i-cap that is being used for new product development and commercialisation.

Ectus was established by Waikato University specifically to exploit university owned intellectual property through its commercialisation arm, WaikatoLink. Ectus as a business has been supported through its early stages by being part of the business incubator at Hamilton’s Waikato Innovation Park. The Park is jointly funded by Hamilton City Council, WEL Energy Trust and NZTE.