Return On Science An update of Return On Science’s developments in 2017.
What’s been happening: 1. Momentum Investment Committee 2. New Investment Committee Members 3. Velocity 100k Challenge 4. New Team Members 5. CPN Developments 6. Conferences & Events “Return On Science works with
98 organisations
internationally, providing connections and giving valuable advice to
386 individual projects across
552 presentations to date”
2017 was an eventful year for Return On Science! The biggest change in 2017 was the formation of Momentum, our fifth investment committee. Momentum is a student-led investment committee with the majority of the projects emerging from student driven ideas. We are excited to be able to provide critical guidance and support a new generation of entrepreneurs. All five Investment Committees are continuously evolving and 2017 was no exception to this. We would like to thank all committee members for their excellent contribution in 2017. A special thanks to those committee members that retired in 2017 and a warm welcome to the new faces that joined us at Return On Science, we are excited that they bring with them some new perspectives with their contributions. Return On Science supports numerous student entrepreneurship programmes at the University of Auckland, including the Velocity 100k Challenge. We have been delighted to see such enthusiasm for entrepreneurship in the student body. The Return On Science team has also had some changes, saying goodbye to the old faces and welcoming in the new.
What a year!
Momentum Investment Committee 2017 marked the formation of our fifth investment committee, Momentum. The youthful, fast-paced, student-led committee has been shaking up pervasive traditional views on investability and paths to market. The committee is chaired by Daniel Xu, Founder and CEO of UVLens, and Honorary Academic of the University of Auckland’s Bioengineering Institute. Momentum represents our commitment to diversity being comprised of students of multiple disciplines, young entrepreneurs and experts in the field of commercialisation. The Momentum Investment Committee is placed to provide unique, comprehendible and effective advice for budding entrepreneurs.
“Momentum held its first meeting in
June 2017 and has since seen
21 Projects spread over
6 meetings”
Momentum differs from our other investment committees as it is not specialised by technology. This allows the committee to view projects from many different disciplines and technology levels. As such, those teams whose projects do not fall into the four technology categories; Biotech & Life Sciences, Agritech & Foodtech, Physical Sciences and ICT, have an opportunity to seek the advice and expertise of a committee. Many of the projects that have been presented thus far are student projects with
ideas ranging from social entrepreneurship to medical devices to fashion, Something different every meeting! Daniel Xu Momentum Investment Committee Chair
Momentum has allowed us to reach much further into the community to help more budding entrepreneurs. In September 2017 Return On Science had our first high school team pitch to the Momentum Investment Committee. A big thank you to KiwiNet’s May Low for recommending that the Tie Dye Guys come along and present!
Meet our 2017 Momentum Investment Committee Members! Daniel Xu (Chair) – CEO, UVLens Charlotte Vandermeer – PhD Student, UofA Veronica Stevenson – CEO, Humblebee Andrew Chen – PhD Student, UofA Kaushala Ratnayake – Consultant, Deloitte Maria-Jose Alvarez – Post-Grad Student, UofA Andrew Mayfield – CEO, Optimal Workshop Cheryl Tan – Undergrad Student, UofA
Rivindu Weerasekera – PhD Student, UofA Te Kahuratai Painting –Postgrad Student, UofA Greg Sitters – CEO, Sparkbox Ventures Imche Fourie – Postgrad Student, UofA Brian Russel – PhD Student, AUT & Investor Director, Comtempo Lab Will Charles – GM Tech Dev, UniServices Andy Shenk – CEO, UniServices
New Committee Members To keep our Investment Committees fresh we are constantly seeking new committee members to join our ranks. This influx of new ideas, experience and expertise results in the project teams receiving better advice, more options and more connections into their chosen industries. Each of our committee members are handpicked due to their experience working with new technologies, their industry knowledge and their willingness to help the new generation of entrepreneurs. In 2017 we have added three new committee members; Mackenzie Nicol, Candace Kinser and Stuart Christie. Mackenzie Nicol is a Senior Investment Manager at the Ministry of Business Innovation and Employment. She manages research contracts across biological industries including Biotech, Agritech and Medtech. With an MSc in Medical Laboratory Science, Mackenzie has a background in managing diagnostic medical microbiology and molecular pathology laboratories and was the scientific lead for community Microbiology in the Wellington region for several years. Nearly ten years working in the National Health System in the UK as a Biomedical Scientist, and time at ESR in reference laboratories, has given Mackenzie experience across infectious diseases and a range of pathology disciplines with a deep understanding of the rapidly changing technologies and landscape in which diagnostics operates. Mackenzie has now joined our Biotech & Life Sciences Investment Committee. Candace Kinser is currently a board director with listed and private companies and an advisor for several prominent businesses from NZ and the USA. She has previously held a number of senior roles in the science and tech sector including over a decade of experience as a company CEO with NZ science software start-up Biomatters and with the industry body, NZTECH. Candace has been recognised for her achievements in business and leadership through the years and is passionate about elevating women in the STEM fields. While CEO of NZTECH, she founded NZ Women Tech Execs, a national group of women execs in the tech sector and supported the national launch of 'Shadow Tech' for young women aspiring to work in technology. She has degrees in Anthropology & Political Science from the University of Hawaii, a Post Grad and Masters Degree in Business from Massey University and advanced qualifications in Bio-Pharma from Rutger's, Governance from the University of Melbourne and specialist studies in Cybersecurity from MIT.
Candace has now joined our ICT Investment Committee
Stuart Christie is a management consultant in the early stage capital markets. He is also chair of the AI Forum of NZ and a core group member of Fintech NZ. Stuart works with high growth companies, corporates and investors focused on the commercialisation and value-realisation of FinTech, SaaS and AI opportunities. Most recently Stuart was an Investment Manager at New Zealand Venture Investment Fund working on seed funding for early stage technology start-ups. Previous to NZVIF, he was a founder of the mobile banking and payments company M-Com which was established in 2000 and sold to the world’s largest supplier of technology solutions to retail banks. Prior
to M-Com Stuart held a variety of senior management roles in the capital markets, banking and telecommunications industries and was the Vice President of the NZ Wireless Data Forum. Stuart has an MBA from the Bradford School of Management in the UK and a B Hort. Sci. (Marketing) from Massey University. Stuart has now joined our ICT Investment Committee.
Velocity New Team
Velocity’s 100k Challenge Winners, 2017 Winners – Suture Future Runners Up – MicroVision Social Enterprise Winners – Kara Education University Research Winners – STOP Smart Sewer System New Ventures Winner - Invoke We are also proud to note that Maria-Jose Alvarez, member of the MicroVision team, is also a member of our Momentum
Return On Science works closely with Velocity, the University of Auckland’s student entrepreneurship programme, sponsoring their annual 100k
Challenge. Each year we provide Velocity teams with the opportunity to present to a Return On Science Investment Committee. In 2017 we are proud
all of the five winning teams presented to Return On Science at least once. Also, four of the winning teams to note that
returned to the committees after the competition for further guidance to actualise their projects.
Investment Committee.
New Team We have also had a few changes to the Return On Science team, as both Lee Kirsopp and Sam Wilkins have moved on. Lee has gone overseas to teach English in Japan, and Sam Wilkins has joined the UniServices Technology Development Team. Sam and Lee have been replaced by Emma-Louise Hunsley and Benjamin Pearson. Emma-Louise Hunsley is a recent graduate of the Masters of BioScience Enterprise programme at the University of Auckland. During her studies she completed an internship with the UniServices Technology Development Team, working with the Health and Life Sciences team. This interest was continued when she went to work for Medipak Surgical a medical device company, prior to joining Return On Science. Emma now manages the Biotech & Life Sciences and the Physical Sciences Investment Committees. Benjamin Pearson has a Bachelor of Science and is a graduate of the Masters of BioScience Enterprise programme. Ben completed an internship with the Health Innovations Research Group at Karolinska Institute, Sweden. Before moving into his role at Return On Science Ben worked for a start-up in the medical imaging field. Ben now manages the ICT and the Momentum Investment Committees.
CPN Events MBIE Support
Return On Science is delighted that MBIE has extended the CPN funding for another year, along with our partners KiwiNet and Christchurch NZ. KiwiNet Research Commercialisation Awards
Congratulations to all those who took part in the 2017 KiwiNet Commercialisation Awards. The winners of the competition were: • BNZ Supreme Award - Professor Richard Furneaux, Victoria University of Wellington • Baldwin’s Researcher Entrepreneur Award – Professor Richard Furneaux, Victoria University of Wellington • Norman F.B. Barry Foundation Emerging Innovator Award – Dr Geoff Rodgers, University of Canterbury • MinterEllisonRuddWatts Research & Business Partnership Award – University of Auckland, Orion Health & Waitemata DHB for Precision Driven Health • PwC Commercial Deal Award – SoulMachines – University of Auckland & UniServices Ltd We are very proud to note that Momentum & ICT Committee Member Daniel Xu was a finalist for the Norman F.B. Barry Foundation Emerging Innovator
Award
Applications for the 2018 KiwiNet Research Commercialisation Awards are Now Open! Innovation Conference in Hangzhou
In December 2017 Return On Science visited the new UniServices offices located in Hangzhou, China. The conference was a great success with pitches of New Zealand technologies being well received by the local investors, and many networking opportunities taken advantage of. Also, Distinguished Professor Margaret Brimble, member of our Biotech & Life Sciences Investment Committee was awarded for her contributions to commercialising research.
We are very grateful to the team at MBIE for their support of the Return On Science programme, accrediting the student-led Momentum Investment Committee to make PSAF funding decisions. This support is also shown by their involvement on our Investment Committees, Jez Weston being a member of the Physical Sciences Committee, and Kjesten Wiig and now Mackenzie Nicol being members of our Biotech & Life Sciences Committee. Congratulations to Dr Ian Woodhead, member of our Agritech & Foodtech Investment Committee, who was awarded the Scott Medal at the Royal Society Te Apārangi Honours Awards, for advancing electronic engineering, particularly in developing sensors for the agricultural and environmental sectors, including an electric fence performance sensor, and an electronic soil moisture sensor that allows for more efficient irrigation systems.
BIP Asia Conference, Hong Kong
Return On Science once again attended the BIP Asia conference hosted by the HKTDC. The conference was highly interesting with talks on the future of IP, China’s plans for Artificial Intelligence and the impact of the Belt and Road project. We were also lucky enough to go on a tour of the new Hong Kong Science Park, a state of the art facility.