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How Callaghan Innovation's $244m revenue is shaping Kiwi innovation

28 Sep 16

Callaghan Innovation's 2015-2016 Annual Report has now been tabled for Parliament, and it puts forward some of the most grand successes for New Zealand innovation.

The company helps businesses with commercialisation right through from development, research, equipment, people, R&D, testing and measurement.

In the report, the company details how its 'Global Expert' programme, which is a database of national and international innovation for business networks and universities. This year the Global Expert service worked with 112 customers, connecting companies to expertise.

The company also details how its Regional Business Partners initiative connects businesses to venture capital communities, regional economic development agencies and the NZTE.

According to Callaghan Innovation, it has also coached New Zealand businesses through a number of its innovation programmes, including Driving Innovation, a year-long skill development programme that develops innovation, risk management and product development.

The company's Innovation Experts Series also brought international speakers to more than 1300 business leaders and students, with positive feedback.

Callaghan Innovation also states that it champions innovation by helping startups and businesses realise their potential. The company has developed a number of programmes for students and startups.

The company says that the Futureintech programme attracted more than 57,000 school-aged students and more than 3000 teachers.

In addition, Callaghan Innovation has also cited success in its involvement with the Enterprise Europe Network, which is one of the world's largest innovation networks that works with SMBs to grow internationally. Business matchmaking tools connected New Zealand and European businesses in the medtech sector.

The company has also played a large part in incubators for 132 New Zealand startups through providing mentors, funds, awareness and development programmes. The company is also supporting Vodafone xzone, an innovation facility planned for Christchurch.

The company also used the case study of Rocket Lab, an aerospace that is well on the way to launching its first electron rocket. Callaghan Innovation awarded the company an Innovation Growth Grant in 2013, which helped them grow to a team of more than 100 engineers. They have also designed, developed, tested and qualified large vehicle engines.

The company's revenue for the 2016 year hit $244.6 million, slightly less than its $290.7 million budgeted for 2016. Revenue included $68.7 million in Crown funding and $154.1 million in Crown grants. $20.3 million came from commercial and other revenue.

Read more in the Callaghan Innovation annual report here.

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