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

 

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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