Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


New Measures To Assist High-tech Innovators


New measures to assists innovators start up hi-tech new companies

The government has decided to progress a series of initiatives designed to assist with the formation of new high technology companies. In particular, it will assist innovators to develop their ideas into marketable propositions capable of attracting start up capital.

"Our research has indicated that there is no shortage of good ideas nor is there any great shortage of venture capital. One of the hurdles is how to develop the idea and the proposed business plan to the point where the financial community is comfortable with the proposals," Deputy Prime Minister Jim Anderton said.

"The proposals do work both ways in that they are also aimed at the financial community. We believe that there are too few financiers experienced in this start up deal making. Promising opportunities may have been lost through an inability of the capital providers to work at this relatively low level of involvement. Our initiative will also address this problem.

"We will put together a new “Investment Readiness” service, designed to provide information and training on how to find capital for a new project.

"We will also partially fund the provision of “Ideas Brokers” who will act as an interface between entrepreneur and financier. These brokers are likely to focus, at least in the short term, on good ideas coming out of existing programmes or institutions such as universities, CRIs, Techlink consultants, Economic Development Agencies, BIZ programme etc

"Finally the Government will assist with the growing movement towards institutional incubators associated with universities and polytechs. Incubators typically help new entrepreneurs by providing workspace, business and computer services and access to technical support on preferential terms. Overseas, incubators are assisting the development of new high technology companies. It is now time that New Zealand starts supporting its own entrepreneurs in the same way.

"Funding for the three initiatives will reach about $2.25 million for the 2000/01 financial year. No incremental funding is required for this programme as it now stands.

"New ideas are fundamental to the success of this economy. This package marks the start of a new focus on ensuring those new ideas reach commercial success," Jim Anderton said.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news