The New Zealand government has awarded Deep Video Imaging (DVI) a grant of more than $500,000 to research and develop its revolutionary “3D” liquid crystal display (LCD) screens.
The $506,250 grant - one of the largest under the Technology for Business Growth (TBG) Programme - follows last month's announcement that DVI received a $690,000 boost from Singapore's National Science and Technology Board (NSTB) to commercialise its desktop computer monitors in Asia.
The latest funding will be issued to Hamilton-based DVI over the next 15 months and will be supplemented by DVI shareholders to total more than $1 million.
DVI general manager Gabriel Engel says the New Zealand and Singapore government funding highlights the potential of DVI technology.
"We will use the capital to develop interactive kiosks for the huge US market and support a next-generation development program for desktop computer monitors," he says.
The monitors use multiple layers of LCD screens giving 3-D images that do not need viewers to wear special glasses.
The TBG programme, part of the Foundation for Research, Science and Technology, fosters high-tech Kiwi innovations by providing partial funding of up to 50% of research and development, and technology transfer costs.
Foundation spokesperson Gowan Pickering says New Zealand needs more firms like DVI as Kiwi R&D is concentrated in a few firms and is only one-fifth of the OECD average.
"It makes good business sense for a firm to invest in R&D because innovation provides organisations - and nations for that matter - with fundamental competitive advantages.
"Many of the firms we've invested in through Technology New Zealand, for instance, have reported net profit levels of between 10 and 15% of sales as a direct result of taking up new technology," he says.
More information on DVI is available at www.deepvideo.com.