OpenCloud secures multi-million dollar research and development grant
New Zealand Ministry of Science and Innovation recognises OpenCloud’s contribution to research and development
Cambridge, UK/Wellington, NZ, – August 17 – Telecoms software innovator OpenCloud has been rewarded by the New Zealand Ministry of Science and Innovation (MSI) for its sustained and creative approach to R&D, with a multi-million dollar Technology Development Grant.
The grant will further accelerate OpenCloud’s R&D programme in New Zealand, allowing the company to develop innovative network oriented solutions focused on application development, charging and interoperability for global Communications Service Providers.
The three-year grant was provided to OpenCloud in MSI’s latest round of investment. The grant is administered by MSI and is one of the products in its business investment programme. The grant is only provided to firms with a good track record in R&D, which invest a considerable amount of their revenue in the area.
OpenCloud was founded in New Zealand and has conducted all R&D there, supporting the technology market in the country for 11 years. However, OpenCloud has grown to be a global company, with offices worldwide and a base in Cambridge in the United Kingdom. OpenCloud works closely with the worldwide developer community and its clients consist of fixed line and mobile operators. The MSI grant provides an opportunity to boost OpenCloud’s R&D programme in New Zealand, allowing it to offer more innovative products and solutions to its worldwide customer base.
“We’re delighted to have our contribution to R&D recognised by the New Zealand government in the form of this prestigious grant,” said Jeff Gordon, CEO of OpenCloud. “We are a company that has formed out of New Zealand that has a global vision and is founded on a desire to innovate. This culture permeates in the way we conduct R&D and do business all over the world. The grant will allow us to enrich and accelerate R&D, helping us to develop a larger range of innovative products to deliver to international Communication Service Providers.”
“MSI’s support will mean OpenCloud can invest in R&D over the next three years and can keep on doing what they are good at: developing innovative and profitable products and services and take them to their clients all over the world,” Brett O’Riley, Deputy Chief Executive Business Innovation and Investment at MSI said.
The grant reimburses 20 per cent of eligible research and development expenditure on a business’s research programme, up to NZ$2.4 million (£1.2 million) (excl. GST) reimbursement a year. The final amount received is tied to the recipient’s actual R&D expenditure over the next three years. Grants are awarded for three years, after which recipients can reapply. In this round of funding MSI will invest almost NZ$50 million in 19 New Zealand businesses in the high value manufacturing sector.
About OpenCloud (www.opencloud.com)
OpenCloud delivers open, standards-based network transformation solutions to the telecommunications industry. OpenCloud Next Generation Service Layer products enable the agile delivery of classic and telco2.0 telecommunication services at a dramatically lower price-point across next generation IP and legacy networks. OpenCloud provides Rhino, a JAIN SLEE-based Telecom Application Server, together with a portfolio of hundreds of telecom applications, a Telecom Service Broker, and a real-time charging session control point for data, voice and messaging services. OpenCloud Service Layer products use commercial-off-the-shelf (COTS) hardware and software to deliver service layer agility to networks at a radically lower price-point than traditional solutions from network equipment providers.
OpenCloud is headquartered in Cambridge, UK with R&D, Engineering and Support in New Zealand and Spain and branch offices in the Singapore and Jakarta.
Visit http://developer.opencloud.com to join OpenCloud’s growing developer community.
Enquiries
James Beattie at Babel PR
Tel: +44 (0)20 7434 5550
Email: opencloud@babelpr.com
