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$1.8 million boost for business incubators

$1.8 million boost for business incubators

Eleven business incubators have been given a combined $1.8 million boost from Industry New Zealand’s Incubator Development Programme.

"The Incubator Development Programme is relatively new but is already proving extremely successful," says Associate Minister for Industry and Regional Development Pete Hodgson.

"In 2002 the annual turnover of the 103 companies in incubators that have received Industry New Zealand funding more than doubled, to an average of $237,000. These companies have also more than doubled their staff numbers, on average, and they have raised $10 million in equity funding."

Incubators typically provide workspace, support services and an intensive mentoring programme for entrepreneurs and new businesses at the start-up and early stages of development.

Industry New Zealand’s programme has been designed to help get a network of incubators up and running in New Zealand and to help ensure their long-term survival, by encouraging best practice in incubator management.

The $1.8 million granted in the latest round of incubator awards included funding for mentoring, marketing plans, commercialisation of intellectual property, information technology and salaries. Incubators housing high-growth potential companies with export and global opportunities are targeted for support.

The recipients of the latest awards were:

Auckland

E Centre (Albany) - $270,000 Contact - Steve Corbett, Phone: 09 443 9793, Mobile: 027 467 2167 Web: http:// http://www.e-centremassey.org.nz The Icehouse - $200,000 Contact - Andrew Hamilton, Phone: 09 309 1510, Mobile: 027 496 0101 Web: http:// http://www.theicehouse.co.nz

AUT Technology Park - $230,000 Contact – Jonathan Kirkpatrick, Phone: 09 917 9507, Mobile: 021 664 694 Web: http:// http:// http://www.techpark.aut.ac.nz Auckland Fashion Incubator - $100,000 Contact - Kim Fraser, Phone: 09 917 9572, Mobile:027 481 9456 Web: http:// http://www.fashionincubator.co.nz Westsmart Business Incubator - $100,000 Contact - Mandy Richards, Phone: 09 837 7491 Web: http:// http://www.enterprisewaitakere.co.nz/index.cfm/WestSmart

Wellington

Creative HQ - $150,000 Contact - Mark Blumsky, Phone: 04 803 3349, Mobile: 027 441 9446 Web: http:// http://www.creativehq.co.nz T-Up (formerly Innovation Greenhouse, Wellington) - $150,000 Contact: Robert Acton, Phone: 04 920 7615, Mobile: 021 842 421 Web: http:// http://www.innovationgreenhouse.co.nz Innovation Greenhouse Porirua - $100,000 Contact - Dayle Lakeman, Phone: 04 237 5590, Mobile: 027 445 8720

Christchurch

Canterbury Innovation Incubator, - $270,000 Contact - Steve Hampson, Phone: 03 366 0154, Mobile: 025 227 9854 Web: http:// http://www.cii.co.nz

Dunedin

Dunedin Fashion Incubator - $100,000 Contact - Geoff Terpstra, Phone: 03 471 9974, Mobile:027 222 4134 Web: http:// http://www.dfi.co.nz Otago Centre for Innovation - $130,000 Contact - Ian Smith, Phone: 03 479 8513, Mobile: 021 370 980

For more information on the incubator development programme visit: http:// http://www.incubators.govt.nz

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