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

 


Company incubator network expands

Hon Steven Joyce
Minister of Science & Innovation

9 July 2014

Company incubator network expands

New Zealand’s nationwide network of business incubators is being expanded, with the introduction of a new type of technology-focused incubator designed to get more high-growth start-ups off the ground, Science and Innovation Minister Steven Joyce announced today.

The list of incubators approved by the Callaghan Innovation Board includes three of the new technology-focused incubators and five founder-focused incubators, previously known as Business Incubators. The technology-focused incubators will have access to the pilot repayable grant programme announced in Budget 2013.

“The response from the market has been really positive, with a considerable number of high quality applications from across New Zealand,” Mr Joyce says.

“It has been encouraging to see a number of new applicants entering the incubation space and the keen interest in the new technology incubators.”

After a rigorous assessment process and a final recommendation from an independent panel, the Callaghan Innovation Board approved the following applicants:

Technology-focused incubators:
• PowerHouse (Auckland, Wellington, Christchurch, Dunedin)
• Astrolab (Auckland)
• WNT Ventures (Tauranga)

Founder-focused incubators:
• The Icehouse Ltd (Auckland)
• The Bio Commerce Centre (Palmerston North)
• Creative HQ Ltd (Wellington)
• eCentre Ltd (Auckland)
• Soda Inc Ltd (Hamilton)

Callaghan Innovation and the successful applicants are now in contract negotiations.

Mr Joyce says there was a high rate of collaboration between parties on proposals, especially within regions.

“Collaboration bodes well for developing and growing new companies in our high tech sector, which is crucial to growing our economy. If we can work smarter across industries and improve our access to innovation we will have a competitive edge in this dynamic and challenging sector,” Mr Joyce says.

The Incubator Support Programme from Callaghan Innovation offers support and funding to two types of business incubator companies, the existing founder focused incubator model and the new technology focused incubators.

Technology-focused incubators are privately owned businesses that will focus on commercialising complex intellectual property primarily sourced from publicly funded research organisations, such as universities and Crown Research Institutes.

Technology-focused incubators will be able to access a new repayable grants tool on behalf of the start-up companies they incubate. These grants will be administered by Callaghan Innovation. The Government will contribute up to $450,000 over two years to eligible companies resident in technology-focused incubators, matched 1:3 with incubator owners contributing up to $150,000. The Government grants will be repayable out of the company’s revenue. This pilot repayable grants programme has been allocated $31.3m over four years.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Land Swap: Setback For Ruataniwha Scheme As Forest & Bird Wins Appeal

The Royal Forest & Bird Protection Society has won an appeal against a proposed land swap by the Department of Conservation which would have allowed 22 hectares of Ruahine Forest Park be flooded as part of the Ruataniwha Water Storage Scheme that will provide irrigation for farmers. More>>

ALSO:

Up: Official July Crime Stats Released

Official crime statistics for July 2016 show that Police recorded 11,171 more victimisations than the same period last year, which equates to a 2.3 per cent increase. More than three quarters of this increase can be attributed to burglaries. More>>

ALSO:

Gordon Campbell: On The Judith Collins Charm Offensive

Suddenly, Judith Collins is everyone’s new best friend. It isn’t an election year, but the Corrections/Police Minister is treating 2016 as an opportunity for a political makeover… Feel that the Police don’t attend burglaries often enough, or assiduously enough? She’s the peoples’ champ on that one. More>>

PM's Press Conference: Crime And Diplomacy

The Prime Minister's press conference today was dominated by foreign affairs and an open letter from the PM to the Chinese community on crime. More>>

ACC: Govt Caught In Unethical Cluster Bomb Investments

The ACC Fund admitted that it had $1.4 million invested in cluster munitions and nuclear weapons manufacturer Lockheed Martin. Before responding to the Green Party’s request for information,however, ACC sold its Lockheed investment and updated its ethical investment policy. More>>

ALSO:

Local Governments To Decide: Easter Trading Bill Passes

The union representing working people in the retail industry is condemning the Government for whipping its MPs to pass the controversial Shop Trading Hours Amendment Bill. More>>

ALSO:

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news