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$900,000 boost for incubators in Tamaki Makaurau

$900,000 boost for business incubators in Tamaki Makaurau

Five business incubators in the Auckland region have been given a combined $900,000 boost from Industry New Zealand's Incubator Development Programme.

"The Incubator Development Programme is relatively new but is already proving to be great value for business development in the Auckland region," Tamaki Makaurau MP and Minister for Small Business John Tamihere said.

The Auckland incubators were targeted for support because they house companies with high-growth potential and with export and global opportunities.

"The $900,000 will go a long way to helping the innovative companies in these incubators gain from the expert advice on offer in mentoring, marketing plans, commercialisation of intellectual property, and information and communication technology," Mr Tamihere said.

The Industry New Zealand programme aims to help with set-up and maintenance of the network of incubators and to help ensure their long-term survival by encouraging good management.

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

Last year the 103 companies in incubators across the country on average doubled their annual turnover (an average increase of $237,000 per company), more than doubled their staff numbers, and raised a total of around $10 million in equity funding.

The recipients of the latest awards are: · E Centre: Steve Corbett - 09 443 9793 - http://www.e-centremassey.org.nz

· The Icehouse: Andrew Hamilton - 09 309 1510 - http://www.theicehouse.co.nz

· AUT Technology Park - Jonathan Kirkpatrick – http://www.techpark.aut.ac.nz

· Auckland Fashion Incubator - Kim Fraser - 09 917 9572, http://www.fashionincubator.co.nz · Westsmart Business Incubator - Mandy Richards - 09 837 7491, http://www.enterprisewaitakere.co.nz/index.cfm/WestSmart

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