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


Exciting New Tech Incubator for the Bay

Exciting New Tech Incubator for the Bay

Callaghan Innovation has accepted a proposal from a Western Bay consortium for the development of an innovative new technology-focused incubator for high-growth, early-stage firms. This is one of only three proposals accepted nationwide following the release of an RFP to the private sector in March.

The successful consortium, called WNT Ventures, is a partnership comprising Wharf 42, Newnham Park (including Plus Group Horticulture and Locus Research), the Titanium Industry Development Association and Quayside Holdings, who came together specifically to meet the government’s request.

The collaboration is a unique model for incubation in New Zealand that aims to create three important innovation verticals: ICT, high-value manufacturing and new technology to increase efficiencies in the primary sector. Each stream of technology has the potential to significantly transform the New Zealand economy in its own right, with substantial additional benefits possible from the synergies of the three programmes working in partnership.

Technology-focused incubators will be able to access repayable grants on behalf of the start-up companies they incubate. The government will contribute up to $450,000 over two years to eligible companies, matched 1:3 with incubator owners contributing up to $150,000. The government grants will be repayable out of the company’s revenue. This pilot programme has been allocated $31.3 million over four years.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news