Outset Ventures completes works on deeptech hub Future House, eyes next venture
28 November: Deeptech incubator Outset Ventures, birthplace of Rocket Lab and Lanza Tech, is celebrating a major milestone and is now scaling up to support the next generation of Kiwi startups.
Outset has officially completed all works on deeptech hub Future House in Auckland’s Parnell and will now seek to support startups growing their technology on a far larger commercial scale.
Housing scientists and innovators since the 1970’s, the completed Future House accommodates Outset who utilises over 5000 square meters across 3 levels, with $20m plus under management, housing more than 20 deep tech startups with over 200 employees on site.
The site has already propelled many of New Zealand’s most successful tech companies onto the world stage, from Vertus Energy, Avertana and Mint Innovation and the completed facility is now set to house the next generation of superstar startups.
With these works complete and as it moves to the final close of its second growth fund, Outset now eyes a new facility to housing startups tackling the most critical tech challenges of our time.
New Zealand Steel (owned by global steel leader BlueScope), has entered into a cooperation MoU with Outset which outlines a shared vision of a small-scaled future industrial innovation hub for pilot plants. The MOU will allow the parties to explore future pilot plant opportunities relating to decarbonisation technology, green energy and industrial innovation more generally.
“Whilst it is early days, the potential innovation hub will look to address a key gap in the New Zealand deep tech ecosystem, as currently our ambitious cleantech startups have no such facility to undertake this crucial phase of their development and end up going overseas. We want the jobs, economic contribution and IP to stay within Aotearoa New Zealand says Sean Simpson, Chair of Outset Ventures.
Subject to careful consultation with local iwi and communities, Glenbrook is seen as an potential location – being so close to Auckland and the international airport will enable the hub to leverage mature supply chains and enhance its strategic suitability.
At its original facility in Parnell, Outset demonstrated how clustering of Deep Tech companies with shared facilities creates a unique environment for retiring technical risk and enabling collaboration,
The proposed industrial innovation hub also provides a significant opportunity to attract foreign capital to New Zealand and potential for overseas companies to utilise the site.
The combination of Outset’s start-up energy and passion together with the industrial know-how and unique site advantages from New Zealand Steel are seen as the type of collaboration worth exploring further.
Negotiations and consultations with several start-ups are already underway and further announcements can be expected in 2025.
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About Outset Ventures:
Outset Ventures is a deep technology incubator and early-stage investment fund located in Auckland’s Parnell with facility alumni including Rocket Lab, LanzaTech and Mint Innovation. For any NZ companies working on complex engineering or scientific challenges, Outset is an integral part of the picture. Outset currently hosts more than 20 deep tech startups out of Future House, its multistory research and development facility, and is currently raising its second early-stage venture fund.