By DANIEL RIORDAN
A Hamilton-based high-tech company has received funding of $690,000 from the government of Singapore.
Deep Video Imaging, 80 per cent owned by listed venture capital firm IT Capital and Stephen Tindall's private investment company, Tindall Family Holdings, will use the money to commercialise its 3D liquid crystal display screens in Asia.
The grant is believed to be the first made to a foreign company by the Singapore Government's Technopreneurship Investment Programme (TIP).
DVI is hoping to receive a similar amount from the New Zealand Government's Technology NZ grants scheme.
Under the agreement, DVI will receive support and mentoring from technology incubators working under the TIP umbrella.
DVI will provide the Singapore Government with a licence for the development and commercialisation of its technology in Singapore, Malaysia and Indonesia.
DVI will own 70 per cent of a new company, DVI Singapore, with the remaining 30 per cent held by the Singapore Government.
Mr Tindall said the Singapore incubator programme offered DVI enormous opportunities.
DVI had grown out of one incubator programme, within the Power Beat company at Hamilton, but the new incubator would take it to another level.
According to DVI general manager Gabriel Engel, the screens are the first to achieve a 3D effect without viewers having to wear glasses or stay in one position.
The effect is created by layering two LCD screens over each other.
The screens are used by the information kiosk industry in retail centres such as record and book shops, but the company's ultimate aim, and the focus of the Singaporean work, is to produce 3D desktop computer monitors for Asian markets.
IT Capital took its 34.6 per cent stake in DVI in May.
Mr Tindall's company owns 45.4 per cent and DVI's founding shareholders, including Mr Engel, own the remaining 20 per cent.
Singapore backs Kiwi company
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