Devolved Contract Holders Investment

Tree growing from money

For organisations who hold a contract directly with MBIE for PreSeed funding. These currently include UniServices, Otago Innovation, SCION and Health Innovation Hub.

Anybody seeking PreSeed investment through this process must be working with the commercialisation office from one of the research organisations listed above.

What is the process for approving funding?

MBIE requires devolved contract holders that access PreSeed investment to engage with a CPN Investment Committee (CPN IC). KiwiNet and Return on Science both operate CPN Investment Committees. These organisations have worked together, in consultation with MBIE, to design processes to meet the following principles:

  • MBIE compliance – Satisfying the requirements set out in the PreSeed RFP issued by MBIE.
  • Common processes – The same processes apply across each CPN IC.
  • Shared visibility – Notifications and agendas will be shared between CPN ICs to maximise the opportunity to identify collaboration opportunities regardless of which IC is engaged.
  • Minimise overhead – Processes should minimise unnecessary extra work over and above normal opportunity assessment and business planning activities associated with research commercialisation.
  • Commercial sensitivity – Ensuring processes preserve confidential and/or commercially sensitive information.

MBIE has established different requirements to engage with a CPN IC depending on the amount of PreSeed investment required to progress to investor ready stage.

Level 1 < $30K
under
$30K
For small projects that require less than $30k PreSeed to reach investor ready.
CPN Investment Committee must be notified. No approval is required.

Process forms & reporting requirements

  1. Submit Project Notification Form to a CPN IC on starting the project.
  2. A unique identification number will be issued for that project
Level 1 $30K-$60K
$30K
to $60K
For small projects that are budgeted to require $30k to $60k of PreSeed to reach investor ready.
A CPN IC must be notified. No approval is required, however MBIE recommends presenting the project to a CPN IC for feedback and recommendations before investing more than $30k PreSeed into a project.

Process forms & reporting requirements

  1. Submit Project Notification Form to a CPN IC on starting the project.
  2. [Optional] Submit a Project Preview Form to get feedback from the committee.
  3. If continuing to Level 2 submit a Project Development Plan.
Level 2 > $60K
over
$60K
For bigger projects that are budgeted to require more than $60k PreSeed to reach investor ready.
A CPN IC must provide approval. MBIE recommends seeking approval from a CPN IC prior to investing more than $30k PreSeed into a project.

Process forms & reporting requirements

  1. Written exception reporting to the Investment Committee at any time if milestones and budget are no longer achievable.
  2. Submit Quarterly Project Progress Report & verbal presentation to Investment Committee at end of each quarter.
  3. Submit invoice with Quarterly Project Progress Report to a CPN IC at the end of each quarter.
  4. Submit a Project Change Form to a CPN IC if the project requires a change in budget, end date, or major change of outcomes.

Best Practice Library

Investment Resources