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

 


Callaghan Innovation invites applicants to expand incubator

Media Release
12 March

Callaghan Innovation invites applicants to expand incubator system

Callaghan Innovation is inviting applications from businesses wishing to become part of an expanded network of business incubators throughout New Zealand.

The network will include a new type of technology-focused incubator aimed at encouraging more innovative, complex technology-based start-ups. These will be in addition to the founder-focused business incubators already enhancing the survival and growth of early stage, high-growth businesses.

A request for proposals document (RfP), issued today, follows extensive consultation with the New Zealand start-up support community, the Ministry of Business, Innovation and Employment, New Zealand Trade and Enterprise, the New Zealand Venture Investment Fund, and international experts including Israel’s leading thinker on technology incubators, Oren Gershtein.

The RfP seeks proposals from parties interested in being appointed founder-focused or technology-focused incubators.

The new type of technology-focused incubator will be a privately owned business focused on the commercialisation of complex intellectual property primarily sourced from publicly funded research organisations, such as universities and Crown research institutes.

They will be also able to access a new repayable grants programme on behalf of the start-up companies they incubate. Under the programme, the Government will contribute up to $450,000 over two years to eligible companies resident in technology-focused incubators. The incubator owners will need to provide at least $150,000 themselves additionally in order to qualify for the full amount. This pilot repayable grants programme has been allocated $31.3m over four years.

“New Zealand has not been creating enough high value companies,” says Callaghan Innovation GM of Accelerator Services Chris Somogyi. “The modified Incubator Support Programme and the new Repayable Grants Programme that comes with it were designed to address this shortcoming and will remove much of the risk currently preventing the private sector from investing in early-stage, IP-rich start-ups.”

“The creation of the new tech incubators is a significant step within the New Zealand innovation system. The work they will do will provide a more targeted and sophisticated approach to increasing the rate of formation and success of early-stage start-up firms. This, in turn, will support the growth of emerging sectors and technologies and foster entrepreneurship.”

The RfP documents, with all the details of the new scheme, can be downloaded from the GETS website (www.gets.govt.nz) by searching for reference code 41753.

Organisations applying for either founder-focused and technology incubator status have until 23 April 2014 to return their submission. Successful proposals are likely to be announced late May / early June.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news