Right Hemisphere Loan Agreement
Right Hemisphere, based in Auckland and Silicon Valley, is the global leader in "Product Graphics Management" (PGM), a new and rapidly growing software market segment forecast to increase in value to around US$10 billion over the next decade.
In the first half of 2006, the Crown negotiated an agreement with Right Hemisphere. In return for a loan from the Crown of US$8 million dollars for three years, Right Hemisphere committed to retaining its R&D centre in New Zealand. Importantly, it also committed to working to establish a virtual cluster centred on 3d communications and digital content, involving with universities, other research institutions and interested firms. So long as these commitments are met, interest on the loan will be foregone.
This is a new economic development initiative designed to secure and further develop high value economic activity in New Zealand.
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Media Statements
Media statements from the agreement between the government and software firm Right Hemisphere.
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Growth Capital Facility Agreement
[ Published 07 September 2006 ]
In August 2006 the Crown concluded a Capital Growth Facility agreement with the software firm Right Hemisphere Limited, providing for a loan over 3 years in return for a number of commitments.
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Cabinet Paper: Amended Appropriation: Strategic Investment Fund
[ Published 26 June 2006 ]
This paper was considered by Cabinet on 26 June 2006. It seeks agreement to the establishment of a Capital Growth Facility as a new Non-departmental Capital appropriation in Vote Economic, Industry and Regional Development from 2006/2007.
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Cabinet Paper: Right Hemisphere Assistance
[ Published 26 June 2006 ]
Seeks agreement for negotiations to begin between the Crown and software firm Right Hemisphere for a loan agreement.
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