Parliament

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

 

Extra funds for business incubators

Hon Pete Hodgson
Minister for Economic Development

1 October 2008
Embargoed until 2.30pm Media Release

Extra funds for business incubators

Economic Development Minister Pete Hodgson today announced that the Incubator Support Programme run by New Zealand Trade and Enterprise (NZTE) will be enhanced and will get a $1.8 million funding boost. The $1.8m funding is a 67% increase in the $2.7m existing funding.

“The enhanced support and extra funding for business incubators will extend their capacity and capability,” Pete Hodgson said.

The Incubator Support Program was established in 2001 to support business incubators around New Zealand. Business incubators provide assistance to fledgling New Zealand businesses to become established and viable during their start up phase. They do this by providing shared premises, business advice, business services, mentoring; a full-time, hands-on management team, and access to investors, markets and international networks.

“The enhanced programme means that business incubators will be able to increase resourcing to better service their client firms, facilitate closer relationships with universities and crown research institutes, expand the range of services they offer to include pre- and post-incubation, and develop international networks with overseas business incubators,” Pete Hodgson said.

Funding support for selected incubators will be spread over multiple years, giving them more certainty than they currently have with annual funding rounds.

“The additional funding, and the greater certainty from multi-year funding, means that incubators will be better able to attract and retain high-quality managers who have the knowledge and networks to successfully drive growth,” Pete Hodgson said.

The New Zealand incubation industry has developed an international reputation for the quality of its services, evidenced by a recent World Bank study that used New Zealand as an exemplar of best practice. However new practices are emerging as the industry continues its rapid global growth and NZTE will work closely with New Zealand incubators to identify these practices and consult with them when designing and implementing enhancements to the program which will take effect from 1 July 2009.

“Evaluations of the Incubator Support Programme in 2004 and again in 2008 found that firms that were incubated had better business outcomes than those that were not. Other research has shown that incubated firms are more likely to remain in business, have accelerated growth potential and have successfully attracted investors,” Pete Hodgson said.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Not Easy: Gordon Campbell On The Greens’ Ongoing Problems

Hard to treat the Greens’ belated decision to stand a candidate in Ohariu as being anything other than a desperation move, by a party whose own leadership is evidently concerned about its chances of survival...

A few months ago, the Greens felt able to forego that role in Ohariu in order to help a beleaguered Labour Party get its candidate Greg O’Connor across the line, and knock Peter Dunne out of the parliamentary frame. More>>

 

Gordon Campbell: On DHB Deficits And Free Trade

Currently the world is looking on aghast at the Trump administration’s plans to slash Obamacare, mainly in order to finance massive tax changes that will deliver most of their gains to the wealthy. Lives will be lost in the trade-off. Millions of Americans stand to lose access to the healthcare they need... More>>

Greens' Response: Slum-Like Rentals Exposed In Renting Review

“...The grim findings of the review are a wakeup call about the true state of rentals in this country. Too many renters are festering in slum-like conditions under the thumb of landlords who have largely unchecked powers and ignore tenants’ complaints when it suits them.” More>>

ALSO:

Gordon Campbell: On The Life And Times Of Peter Dunne

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. More>>

ALSO:

Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>

ALSO:

Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>

ALSO:

Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... More>>

ALSO:

Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election