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

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news