High honour for Lincoln Agritech
by Mike Isle
Lincoln Agritech Ltd was recognised for its cutting-edge innovations at the annual Canterbury Westpac Champion Business Awards on September 19.
The research and development company owned by Lincoln University won the ChristchurchNZ Champion Innovation award, which honours businesses that have developed products, services or business model innovations to improve commercial performance, effectiveness or customer engagement.
Lincoln Agritech chief executive, Peter Barrowclough, was delighted with the win and paid tribute to the team of scientists and research engineers who work hard to deliver leading-edge knowledge and technologies across the primary sector value chain. “Our company is flexible and dynamic, combining the spectacular expertise of our scientists and engineers with practical industry insight to offer new knowledge and solve complex real-world problems,” he said.
“With just 55 staff we regularly punch above our weight when compared to New Zealand universities and Crown Research Institutes in the highly contested annual Ministry of Business Innovation and Employment (MBIE) funding rounds.
“In the latest funding round, announced last week, the company was awarded $13 million for two five-year research programmes.”
Mr Barrowclough said Lincoln Agritech had experienced significant growth in revenue over the past five years. “Private sector research revenue has increased by almost 400%, and revenue for government-funded research has more than doubled. Repeat business for professional services was 90% in 2017.”
Lincoln Agritech is wholly owned by Lincoln University, with an independent board of directors.