Introducing Outset, NZ’s Largest Deep Tech Hub Gets New Name

Monday, April 19, 2021, 9:56 a.m.
Press release: beginning

Today New Zealand's largest and fastest growing hub for deep tech startups is renamed and LevelTwo becomes Outset Ventures.

According to CEO Imche Fourie, the new name reflects the evolution of Outset Ventures into the largest company in the country, based on early-stage companies based on scientific and technical breakthroughs to address global challenges.

"We are no longer just a shared space on the second floor of a building, but also a place where entrepreneurs can expand their groundbreaking innovations in science and technology with us from the start," says Ms. Fourie. “The new name speaks to our commitment to growing New Zealand's thriving deep-tech business community, where founders can find support to heal their global ambitions, cure diseases, slow climate change and reverse pollution. and produce sustainable food, fuel and space flights. "

The company used to be the birthplace of Rocket Lab, LanzaTech and Mint Innovation, all of which were once located on the second level of the Outset Ventures building. Today the company houses commercial laboratory and workshop facilities. and a $ 10 million deep tech fund raised with Icehouse Ventures that will support 20 to 30 companies over the next three years.

Outset Ventures welcomed the third startup to its new Launch Lab program last month. Dennisson Technologies, which has also received an investment from the Deep Tech Fund. The company is developing a soft, cloth-like exosuit as an inexpensive, lightweight alternative to traditional medical devices that will help people keep their limbs unable to move without assistance.

"We are very excited about the massive support from Outset Ventures," said Anvil Bañez, CEO of Dennisson Technologies, who founded the wearable technology company last year to help people like his father, who suffers from the effects of polio, again to help with walking. "The funding, the Launch Lab program, and the new connections we are making bring us one step closer to realizing our dream of helping millions more like my father get up and move around more comfortably and independently."

Dennisson Technologies is the fifth company to be supported by the deep tech fund. Previously, investments were made in Helico Bio, a company that grows insulin from plants. The medtech startup HeartLab and the company Pyper Vision for airport fog distribution systems. A sixth investment is expected to be completed in the coming days.

Companies supported by Outset Ventures can also seek advice and advice from New Zealand's most successful deep tech founders, including Peter Beck from Rocket Lab and Dr. Sean Simpson of LanzaTech, who are passionate about growing the New Zealand business community.

The number of deep tech companies housed in Outset Ventures is expected to grow significantly, with more than 180 employees currently working in 21 companies in the Auckland building, recently renamed Future House.

As part of the extensive renovation of the five-story building, the 3,500 square meters will be made available to Outset Ventures and an additional 5,500 square meters to science and engineering companies once the renovations are completed later this year.

The new layout will include additional state-of-the-art laboratories and workshops, as well as shared meeting and event space, with the latter being the venue for New Zealand's first deep-tech symposium, which is scheduled for October.

The November 2020 issue of Startup Investment New Zealand magazine, produced by PwC and the Angel Association of New Zealand, predicts significant growth for the local deep tech sector, which currently accounts for 25 percent of all startup investments.

Worldwide, a recently published PWC report shows that "Climate Tech", which is part of the deep-tech community alongside the aerospace, agritech, biotech and medtech industries, is growing five times faster than the entire VC Investments, and a Morgan Stanley report predicts the global space industry will become a trillion-dollar industry by 2040.

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