Ara Ake’s mandate is to “reduce the time, cost and risk associated with the development and commercialisation of energy innovation in Aotearoa by fostering a new energy ecosystem and leveraging national and global knowledge, as New Zealand transitions to a low emissions future.” We are not a funding agency so our focus is on non-funding services, (which of course includes connection/introduction to funding agencies/investors).
The key objectives of Ara Ake as stated in the MBIE funding agreement are as follows:
1. Research and technology development: identify opportunities that could be commercialised and build the knowledge base of national and international ideas and technology.
2. Connect and complete the energy ecosystem: enable domestic and international relationships between industry, investors, researchers, governments and energy innovators.
3. Pathways to commercialisation: support energy innovation development and commercialisation activities, including the development of solutions to pilot new technologies and help initiatives to become investment ready.
4. Trusted advisor: provide targeted, tailored advice on activities in the innovation chain focused on energy developments and opportunities for applying overseas technologies in New Zealand.
5. Support Government strategy: ensure Ara Ake is aligned with government energy strategy.
6. Governance: ensure Ara Ake has independent skill-based governance and management arrangements.
7. Sustainability: ensure Ara Ake is moving towards long-term financial independence from Government funding.
In order to meet the above objectives, Ara Ake will focus on the key strategic initiatives below. Ara Ake will work collaboratively on similar initiatives being managed by other government agencies, (e.g. Callaghan Innovation and EECA) to ensure a joined up approach on insights, commercialisation and technology development.