Creating Christchurch's Innovation Precinct - EPIC and Beyond
- 1. Crea%ng Christchurch's Innova%on Precinct -‐ EPIC and Beyond
- 2. Tonight’s Panel • Colin Andersen -‐ Chairman of the Board of Directors of Epic Christchurch Ltd • Tim Trewinnard -‐ Sector Leader -‐ Technology at Canterbury Development CorporaBon (CDC) • Apologies from Rob Lawrence -‐ Technology & MarkeBng Development Consultant at Canterbury Employers' Chamber of Commerce
- 3. Christchurch’s Innovation Precinct IITP Canterbury September 2012 Colin Anderson Tim Trewinnard
- 4. What is a Precinct? 1. The space enclosed by the walls or other boundaries of a particular place or building, or by an imaginary line drawn around it. 2. A district defined for the purposes of government or representation … 3. A part of a town or community designated for a special purpose; Oxford English Dictionary, 1989
- 5. The History of Precincts * First discussed by Alfred Marshall in 1890. He identified four benefits: * Knowledge spill over * Access to a common pool of factors of production * Facilitation of specialisation within supply chains * Ease of ‘comparison shopping”
- 6. Blue: educaBon Yellow: CRIs ICT High Value / Knowledge Intensive Red: major businesses Green: funders / incubators Manufacturing UC EXAMPLES: JADE EXAMPLES: HEWLITT PACKARD TAIT COMMUNICATIONS CPIT ALLIED TELESIS SCOTT TECHNOLOGY TRIMBLE MACE ENGINEERING TELOGIS HAMILTON JET AURECON TALBOT PLASTICS DYNAMIC CONTROLS IRL EPIC PVL AGRESEARCH LANDCARE LINCOLN LVL EXAMPLES: DHB OTAGO EBOS PLANT & NIWA SIHIH EXAMPLES: ESR ORION FOOD SYNLAIT FISI EMENDO UC FONTERRA UC WESTLAND HEALTH PRECINCT SCION Agriculture and Natural Resources Health
- 7. Combining Precincts and Innovation First principles for a successful innovation hub1: 1. There should be clear, common and shared purposes and strategic intent. 2. Major precinct proponents should be able to articulate and subscribe to core operating values. 3. Demonstrated potential for added value. There is a greater benefit for a participant from co-‐location. 4. Transaction and co-‐ordination costs should be lower within a precinct . A sustainable precinct must combine investments in both innovation stocks and innovation flows. 1. The role of precincts in innovation systems – a discussion paper, T Cutler, 2009
- 8. Combining Precincts and Innovation 5. Generic program or policy design. 6. Some ‘natural’ market organiser or ‘curator’. 7. Mechanisms to ensure on-‐going motivation through champions and achievement. 1. The role of precincts in innovation systems – a discussion paper, T Cutler, 2009
- 11. EPIC Sanctuary & Sigma Overview
- 12. A call to Action * Christchurch earthquakes devastation of the CBD was a catalyst for action. * Many displaced companies with a compelling need to find premises. * Strong desire to do something positive in recovery and not just make do! * Unprecedented opportunity to create an iconic business environment. * The EPIC initiative was born: “Enterprise Precinct and Innovation Campus” * Led by Colin Andersen and Wil McLellan
- 14. EPIC Sanctuary Build Progress Timber frames going up Structure 50% erected (Jun 20)
- 15. EPIC Sanctuary as at Sep 19th 2012 Manchester St View Tuam St View Nearly there – tenant fit-‐outs currently underway
- 16. EPIC Sanctuary Funding * CCC land deal – free lease over 5 years * Build cost total $4.0M * NZTE contributed $900k over 3 years * MSI contributed $900k over 3 years * BNZ loan of $4.0M * Tenant lease agreement signed over 5 years * Loss of rents insurance for 12 months * Underwrite for tenant rent, cover for $300k per year * Underwrite for earthquake insurance excess $250k * Building buy back after 5 years -‐ $0.5M Note: $500k of pro-‐bono professional services work
- 17. EPIC Sanctuary Sponsorship Company Supplied Goods/Services CCC Landscaping (front & back) Cisco Wireless Network infrastructure Cisco Video conference solution Orion Transformer cost subsidy 2 degrees Bike racks and parking area Kitchen Trends Shared Kitchen fit-‐out Noel Leemings Kitchen appliances Bishop Interiors Meeting room tables & chairs Weta Workshops Artwork within campus Oasis Hire Plants Internal Plants in campus Overall $250,000 of direct of sponsorship value
- 18. EPIC Sigma Where to from here?
- 21. EPIC Sigma – The Essence * Commercial business hub comprising innovation, ICT, high-‐tech enterprise based businesses/tenants. * Industry, agency & education hub comprising groups co-‐locating in innovation campus. * Ancillary facilities and uses – start-‐up & extension bizhub, partner centre, conference theatre connected globally… * A unique opportunity to work smarter, more efficiently and lift the bar on a global scale.
- 22. EPIC Sigma – The Opportunity * 70-‐100 High Growth Potential Companies (2000+ staff) * Focus Industries for NZ – Innovation and High Tech * Business efficiency through shared services * Business effectiveness through collaboration * Enable growth by providing safe, affordable, inspirational facilities to attract/retain talent and investment. * Reduced flight of high-‐tech businesses from ChCh
- 23. EPIC Sigma – The Opportunity * Engage with Govt and Educational institutions to foster ongoing innovation and collaboration. * Modular campus design to spread cost and enable growth * Learn from world leaders in this space e.g. Google * Energise the heart of the city * Establish NZ as a centre for world class innovation * Increased high-‐tech exports for ChCh and NZ
- 24. EPIC Sigma – Project Phases Phase 1 -‐ Land * Land option -‐ ability to access land for EPIC Sigma… Phase 2 – Pre commitment * Design/specification, consents, tenant pre-‐commitment, funding, construction contract… Phase 3 – Construction & Delivery …
- 25. EPIC Sigma – Current Status * Extensive & evolving tenant interest (anchor group) * Engaged with CERA/CCDU/CDC/CCC/University/CPIT… * Active discussions with Google globally * Engaging with land owners * Warren & Mahoney compiling concept plans * Establishing corporate, governance, advisory, stakeholder structures and approach. * Seed funding initial work, developing longer term project funding and investment structure. * Currently seeking Independent Chairman
- 26. Thank You – Questions?
- 27. How can the IT Industry in Christchurch get more involved? We aim to hold follow-‐up events
- 28. How can the IT Industry in Christchurch get more involved? Info and ideas can be posted to this open LinkedIn Group