AUCKLAND, New Zealand, Nov. 30 (UPI) -- New Zealand's military has joined with a research and development company to commercialize defense technology.
The intellectual property to be exploited by the New Zealand defense force and UniServices would be generated by the country's Defense Technology Agency.
UniServices, which is owned by the University of Auckland, is the largest research and commercial development company of its kind in Australasia.
"In the past five years, we have created more than 100 new licenses based on inventions from the University of Auckland and our start-up companies have attracted $226 million into New Zealand from global investors," said UniServices Chief Executive Officer Peter Lee. "One of UniServices' core aims is to help innovative Kiwi companies achieve their goals."
The vice chief of the defense force, Rear Adm. Jack Steer, said the collaboration is part of the move by the military to look at more innovative ways of working.
"We have several products with commercial potential so we will be leveraging off the expertise and international knowledge of a proven company rather than try to grow these skills ourselves," he said. "In the future we will be looking to the DTA to generate income which will be reinvested in our military capability."
A Technical Advisory Board will be set up to give guidance and direction on research programs and to oversee commercialization efforts.