The link below has the details of my recent, unexpected, investment to assist in developing a world leading 3D digital graphics & content industry in New Zealand. Ok, it’s not just me as via the Government every Kiwi has invested in Right Hemisphere. I think this is a good move although there is a disturbing amount of “PR Speak” in the release.
“Prime Minister Helen Clark and Economic Development Minister Trevor Mallard today announced a new economic development initiative to establish and support a world-leading 3D digital content and graphics industry in New Zealand”
“Right Hemisphere will receive a conditional loan of US$8 million (between NZ$14.03 and NZ$12.69 million) for three years. As long as Right Hemisphere keeps to the conditions of the loan, the interest of 25 per cent will be waived.”
“Right Hemisphere’s technology enables manufacturers to take the 2D and 3D design data created by engineers using proprietary computer aided design (CAD) software and re-use this data to automate the publishing of 2D and 3D manuals and marketing material. This enables manufacturers to accelerate “time to market”, increase revenues, and reduce product lifecycle costs.”
Current Right Hemisphere customers, include Lockheed Martin, Abbott Laboratories, Boeing and Daimler-Chrysler.
The benefits include:
- Three-year programme of research projects involving New Zealand universities and Right Hemisphere aimed at increasing New Zealand’s R&D capabilities;
- Improving international connections, particularly with the US venture capital market.
- US venture capitalists Sutter Hill and Sequoia will review at least five NZ business plans a year for three years and will also visit NZ to discuss US funding and business growth strategies with government agencies, local businesses and entrepreneurs. Both venture capital firms have a strong track-record of success. Sequoia Capital Partners has had a major role in starting some notable companies, including Apple, Google, Cisco Systems, Oracle, Paypal, nVidia, Electronic Arts and Yahoo.
- The opportunity for other firms to use Right Hemisphere’s technology to build applications across a wide range of industries, including education and training, health, design and manufacturing.
- The opportunity for new businesses to be established that provide support services to Right Hemisphere and its customers
- 97.5 per cent discount on Right Hemisphere software to universities and research institutions involved in the research programme
- A commitment by Right Hemisphere to assist in attracting relevant US R&D or educational centres or customers to participate in NZ-based research
The government believes that with its strong links into the US market and its investors and partners, Right Hemisphere can provide the business and technology coherence, as well as a proven path to market, for commercialising R&D from the group of cutting edge firms and researchers who already work in this area of graphics and digital effects. This would strengthen not only this group, but New Zealand's position as a whole in the global IT space.