Source: AUT
AUT today launches the AUT Innovation Fund with an allocation of $5 million to invest into spinout companies and impact initiatives.
Managed by AUT Ventures, the fund will empower some of Aotearoa New Zealand’s most innovative minds to commercialise research and transform it into real-world solutions.
Vice-Chancellor Damon Salesa says that growing research impact is a key focus, and the AUT Innovation Fund extends the way that AUT Ventures supports innovation and research commercialisation. “The AUT Innovation Fund is more than just a financial instrument. It’s a signal — to our researchers, our partners, and our country — that AUT is ready to lead. Ready to invest. Ready to go first.”
AUT Ventures Chief Executive Michael Fielding says the fund is about accelerating commercialisation, as well as linking research to industry. “It’s a game-changer. The fund lets us back promising ideas and teams at a very early stage, committing support to innovators before they’re ready to seek investment from the angel and VC community. But it’s also going to give us new ways to connect with organisations outside the university.”
The fund is being launched with investments into Dot Ingredients and CONICAL.
Motion Capital is the lead investor in the $350k early funding round in Dot Ingredients, alongside Climate Venture Capital Fund and the AUT Innovation Fund. Formerly known as Spherelose, Dot is the brainchild of Associate Professor Jack Chen, who developed a new way to make critical ingredients for everyday products like soaps, detergents and cosmetics, but using wood pulp instead of petrochemicals or palm oil. Based in laboratories at AUT, the company is currently participating in the Aurora Climate Lab accelerator programme run by Creative HQ, while scaling production and developing new applications.
$110,000 will be invested into CONICAL to support the upcoming launch of its indie role-playing game, Faeborne. Launched out of AUT in 2016 by alumnus Alejandro Davila and entirely staffed by AUT graduates, CONICAL quickly gained headlines through the success of its Green Fairy TV series. After earning a reputation for developing cutting edge virtual reality exhibits and activations for businesses across New Zealand and worldwide, Faeborne marks a return to the company’s fairy fantasy origins. Faeborne is a fast-paced, story-driven co-op game centred around the conflict between two fairy sisters in the fantasy realm of Lamparis, and is slated for a multi-platform launch in late 2025.
AUT Ventures has appointed Craigs Investment Partners, a leading New Zealand investment manager, to manage the fund’s assets until they’re invested into new innovations. The income generated under Craig’s management will provide grants to AUT researchers to help kickstart new collaborations with businesses, government and NGOs, expanding the pipeline of future commercialisation opportunities.
AUT’s Innovation Fund will be launched at city campus by Minister for Science, Technology and Innovation, the Hon. Dr Shane Reti today.