Spin-outs formed in 2024 - Annual Report 2024

1 July, 2025

MacDiarmid Institute affiliated start-up company data

The start-up companies affiliated with us report* that during the 2024 year, they:

• raised NZ $41.2 mil private capital (includes one company that is now registered offshore)
• raised NZ $24.4 mil private capital from offshore investors (includes one company that is now registered offshore)
• spent NZ $8.8 mil on R&D, with $3.3 mil of that spent in New Zealand
• employed 56.9 FTE staff in New Zealand - includes a growth of 9 FTE (new employees) over the course of 2024
• employed 24.4 FTE of PhD team members in New Zealand
• employed 16 MacDiarmid Institute alumni in New Zealand (including founders).

Spin-outs formed between 2002 and 2024

Two new companies spun out of their universities and were registered:

• JxB Space Systems from Victoria University of Wellington, Robinson Research Institute and Univentures
• Spherelose - Auckland University of Technology and AUT Ventures.

Looking forward to 2025, our affiliated start-up companies report that:

• at least four new companies plan to go to market for capital raises.

* Data provided by seven responding startup companies

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