Crown research institute Industrial Research has struck a deal with two Texas-based businessmen to develop its broadband, high-speed wireless technology.
The institute said yesterday that it hoped eventually to form a New Zealand-based subsidiary to exploit the technology commercially.
Industrial Research had initially tried to find New Zealand partners to develop the
system, which will be used in wireless local area network applications, a market estimated to be worth $US1.2 billion ($NZ2.75 billion) within two years.
The institute's system allows wireless high-capacity local area networks to operate at far higher speeds than present technology, and without interference.
Industrial Research's new venture manager, Wendy MacDonald, said the institute had a competitive advantage through its technology that it would lose if it did not act to develop it and get it to market quickly.
Ms MacDonald said Industrial Research approached "every company in New Zealand that might have been interested".
"We were looking for a partner who could help us develop the technology but would also have market access and we just couldn't find that in a New Zealand company".
This left the institute with no option other than to seek overseas partners..
The institute met Texas-based entrepreneurs John Green and Jerry Schoemann through their mutual involvement with IC2, a centre for research and education excellence at the University of Texas.
The institute has formed a joint venture, called OFDM Wireless, with Mr Green and Mr Schoemann.
Ms MacDonald said OFDM Wireless would take the technology through its "series A funding", at the end of which the company intended to have chipset samples it could market for use in wireless office products.
- NZPA
