Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Wellington Business Incubators Granted $260,000

15 July 2001

Three Wellington-based business incubators have been awarded a total of $260,000 in the first Industry New Zealand Incubator Awards.

- Gracefield-based Industrial Research Limited was awarded $100,000.

- Central Wellington-based Innovation Greenhouse was awarded $70,000.

- Porirua-based Whitirea Community Polytechnic was awarded $90,000.

Funding under the awards is provided for a wide range of purposes, including installation of IT and web infrastructure, provision of business services to tenants, research into business incubator best practice, management training and salaries, and visiting expert programmes.

“The emergence of business incubators in Wellington is a really positive development for the city’s economy. They will play a key role in building bright, innovative businesses that will make a valuable contribution to the region through the creation of commercially viable products and services.

“Industry New Zealand is keen to support their development, which will lead to more jobs and greater prosperity. American research showed that 87% of incubated companies remained in business three years after leaving their incubators, and 85% remained in the community,” said Neil Mackay, chief executive of Industry New Zealand.

“Business incubators will help arrest the failure of small businesses. In New Zealand, 86% of enterprises employ less than 5 people. It has been suggested that around 80% of them fail within three years of establishment.”

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>