Parliament

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

 

$2.7 million boost for business incubators

22 June 2004 Media Statement

$2.7 million boost for business incubators

Eleven business incubators have been given a combined $2.7 million funding boost, an increase of 50 per cent over last year, Prime Minister Helen Clark and Associate Minister for Industry and Regional Development Pete Hodgson announced today.

The announcement was made as Helen Clark opened new premises for Wellington’s Creative HQ, which has been granted an additional $285,000 from New Zealand Trade and Enterprise’s Incubator Support Programme.

Helen Clark and Pete Hodgson said Creative HQ is an example of the success of the incubator project.

“In March last year, Creative HQ comprised nine companies and 15 staff. It now has 17 fully resident companies, with another six companies under its umbrella, and a combined staff of 47. One Creative HQ company, Virtual Katy, has today announced a deal to export its sound editing software under licence to Hollywood.

"The Incubator Support Programme, launched in 2001, is proving to be extremely successful.

"In the last year an average growth rate of 228 per cent was recorded in the annual turnover of the 101 companies in incubators which have received government funding under this programme.

“These companies have also, on average, more than doubled their staff numbers and raised more than $5 million in equity funding in the last 12 months, and a total of $16.6 million since September 2002.

“The government’s $2.7 million funding boost will continue to help improve the growth and survival rates of even more new companies. It is pleasing to see that the government’s partnership approach is fostering innovation and real job growth.”

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

The NZTE programme has been designed to assist with the establishment of a network of incubators in New Zealand and to help ensure their long-term survival by encouraging best practice in incubator management. The $2.7 million granted in the latest round of funding will be used to help cover incubators’ operational costs and best practice initiatives. Incubators housing high-growth potential companies with export opportunities are targeted for support.

In addition to grants for individual incubators a further $250,000 has been set aside for funding special incubator projects, designed to further enhance the incubators’ ability to offer services to international best practice standards.

To find out more about the Incubator Support Programme please visit
www.nzte.govt.nz/incubators

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election