Hamilton-based Deep Video Imaging will soon be producing its 3D technology in Singapore after a $690,000 grant from its government.
The boost comes as the New Zealand government has also just awarded DVI $500,000 for the Kiwi-developed technology that offers 3D images from kiosks without the need for the special glasses.
The Singapore money comes from its government's Technopreneurship Investment Programme.
"The grant, the first issued by TIP to a foreign-owned company, will enable us to develop and manufacture our liquid crystal display screens (LCD) in Singapore and expand into the mass global market," says DVI architect and general manager Gabriel Engel.
Engel says the recognition from the Singapore government is a major boost.
"Our focus will be to work closely with Singapore's Institute for Performance Computing to tailor DVI's desktop computer monitors for the Singapore, Malaysian and Indonesian markets," he says.
A new company will be formed called DVI Singapore. It will be 70% owned by DVI and 30% owned by the Singapore government's National Science and Technology Board, which now has a licence to commercialise the DVI technology.
Singapore-based Khoe Lay, of venture capitalists IT Capital, which part-owns DVI, says sales in the region should generate much revenue for the company and Singapore is "an ideal base for DVI's expansion into the vast Asian market”.
An IT Capital spokesperson - presently in California with Gabriel Engel looking at opportunities there - says DVI is something New Zealand should be developing but the licensing model works best for the company.
DVI, he says, was focusing on software development and licensing arrangements allow the technology to be applied fastest to maximise the benefits to the company and offer lowest risk.
However, the spokesperson says some manufacturing of DVI 3D products may take place in New Zealand.