The new Advanced Technology Institute will be named Callaghan Innovation in recognition of renowned physicist Sir Paul Callaghan, the government has announced.
Sir Paul died in March this year, aged 64, after a battle with cancer.
Science and Innovation Minister Steven Joyce told a function in parliament on Wednesday night Sir Paul was passionate about commercialising scientific research.
"Sir Paul was one of New Zealand's greatest scientists, he believed science was not only about great ideas but about getting value from those ideas through innovation and commercialisation," he said.
Callaghan Innovation will have centres in Auckland, Wellington and Canterbury.
Mr Joyce says it will be a one stop shop for business innovation support, a "high-tech HQ" for New Zealand.
It is scheduled to open on February 1 next year.