In 2014 the Ministry of Business Innovation and Employment (MBIE) assembled data on the outcomes of the government’s PreSeed Accelerator Fund (PreSeed) since the fund was established in 2004. An independent consultant, Roger Ridley from Ridley Insights Ltd, was commissioned to prepare a comprehensive analysis of the impact and outcomes of PreSeed funded projects.
Read KiwiNet’s press release on how Government PreSeed investment is transforming the way Kiwi Science gets to market
PreSeed is provided by the MBIE to undertake early stage technology commercialisation activities to:
The report was the first ever comprehensive analysis of PreSeed outcomes across 10 years of data from 15 Universities and Crown Research Institutes.
The analysis showed that PreSeed had stimulated a strong pipeline of commercial opportunities based on a solid foundation of matching investment from research organisations and the private sector.
$42.5 million of PreSeed had been invested into 573 projects alongside $66.5 million from research organisations and $22.4 million of external organisations.
The outcome is a steady increase in commercial deals and start-up companies that are creating jobs, export earnings and business investment in R&D.
By November 2014 PreSeed had created 460 jobs, $188 million of external investment into research organisations and potential export earnings of $3 billion.
Pre-Seed 10 Year Potential Export Earnings
Jobs Created in 10 Years of Pre-Seed