Vic Uni spin-out gets $450k from big NZ innovation investor
Powerhouse is a developer of intellectual property based businesses. The organisation was established in 2006 to commercialise scientific innovation developed at the universities of Lincoln and Canterbury along with the country's other leading research-intensive institutions.
The developer has just announced that it will invest up to $450,000 into EdPotential, a new ed-tech software company.
This is the fourth Victoria spin-out that Powerhouse has funded from Victoria University of Wellington.
The main focus of the company, at this stage, is to commercialise a software-as-a-service product that enables schools to inquire into their assessment data, analyse it to identify gaps and strengths, and then act to target solutions that improve student achievement.
The technology has been generated by founding shareholders Victoria and Macleans alongside academic founders Dr. Michael Johnston and Emeritus Professor Cedric Hall.
Geoff Todd is the managing director of Viclink (Victoria University of Wellington’s commercialisation office), he played a part in managing the the spin-out process on behalf of the University.
“EdPotential helps teachers and schools improve individual student outcomes by providing easy access to data about student progress,” says Todd.
EdPotential will deliver software-as-a-service products based on advanced algorithms and data analysis capability through cloud services. This will then enable schools to make more informed decisions, enhance teaching practice and improve student outcomes.
Colin Dawson, chief operating officer of Powerhouse says Ed-tech is an exciting and growing area and Powerhouse is “pleased to support EdPotential as it seeks to develop products that help improve student achievement and save teachers time.”