Consyl Publishing & Publicity Ltd

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Step up for digital industry

THIS year's budget is providing further support to create a world-leading 3D digital content and graphics industry in New Zealand.
"Nextspace is a not-for-profit contract research and innovation centre closely linked to cutting edge software company Right Hemisphere.
"It is to receive $7 million in funding over the next three years for a series of initiatives aimed at bolstering kiwi 3D digital content and graphics firms and research institutions," said Economic Development Minister Trevor Mallard on announcing the funding.
"In particular, Nextspace will run an Auckland facility that will help grow a 'virtual cluster' of companies, researchers and others specialising in graphics communications technology - from around New Zealand.
"The development of such a cluster was a key component of the government's Spillover Agreement with Right Hemisphere late last year. The government provided a $US8 million loan to that company in return for its commitment to fostering New Zealand's 3D content and graphics industry.
"Nextspace will deliver on the government's agreement with Right Hemisphere, with the aim of making graphical communications technology a major industry and export for New Zealand. This is a multi-billion dollar industry that's growing rapidly and where New Zealand already has an edge.
It's a fantastic opportunity for New Zealand to continue to build its leadership in this high value area - an opportunity that fits perfectly with the government's aim of creating a high-income, innovative, export-led economy.
"The cluster will bring together companies developing and using the 3D technology as well as universities and research organisations to develop research and commercial projects that build on New Zealand's existing strength in 3D digital graphics technology. Nextspace will also help with delivering firms a path to market and connections to international clients."
While still in the very early stages of formation Nextspace is already attracting interest from New Zealand companies and universities, as well as major offshore companies and research institutions.
Right Hemisphere will provide software and hardware to Nextspace, as well as being a key source of leads and contacts for research and development partnerships.
"Participating companies will benefit from linkages to Right Hemisphere's technology, knowledge and management capabilities as well as that company's international connections.
"For instance, Right Hemisphere has backing from two of the most prestigious venture capital firms in the world, Sequoia Capital Partners and Sutter Hill, and is poised to become a firm of global significance.
"This arrangement will allow New Zealand organisations to leverage off that success and secure major benefits for the New Zealand economy," Trevor Mallard said.