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

 

Callaghan appoints eight incubators for funding

Callaghan appoints eight incubators for funding

By Suze Metherell

July 9 (BusinessDesk) - Callaghan Innovation, the government funded innovation hub, has approved eight new company incubators to receive funding under its incubator support programme, including three tech-focused firms which will have access to repayable government grants.

Three new tech-focused incubators, PowerHouse, Astrolab and WNT Ventures, will be eligible for up to $450,000 worth in repayable government grants, with the incubator companies matching funding at a one to three ratio of up to $150,000. Callaghan also approved funding for five founder-focused incubators, previously known as business incubators, The Icehouse, The Bio Commerce Centre, Creative HQ, eCentre and Soda Inc.

"Collaboration bodes well for developing and growing new companies in our high tech sector, which is crucial to growing our economy," Science and Innovation Minister Steven Joyce said in a statement.

The tech-focused incubators will focus on commercialising intellectual property, primarily sourced from publicly funded research organisations, like universities and Crown Research Institutes. The repayable grants are a trial programme, which was allocated $31.3 million over four years in the 2014 Budget.

Callaghan appointed the eight incubators through a panel which included New Zealand Trade and Enterprise, Ministry for Business, Innovation and Employment, New Zealand Venture investment Fund, Callaghan Innovation, an independent New Zealand private sector expert and an Israeli incubation model expert.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Rocket Lab: Launch Expected

Rocket Lab has delayed the roll out of the launch vehicle called Electron by one day, due to weather conditions. The planned launch attempt will now take place on Tuesday, May 23, 2017. More>>

ALSO:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO:

MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

ALSO: