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

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

To date, the Opposition has continued to occupy itself with the marginalia of the issue. E.g. whether Key did or didn’t know whether Barack Obama would be present at the US briefing last week on IS, or whether New Zealand’s military involvement is or isn’t already a fait accompli.

It might be better to tackle the issue, head on. Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn.
More>>

 

Parliament Today:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Labour: Tea Breaks 'Gone By Lunch Time'

“How cynical that on the eve of Labour weekend, the National government is pushing through legislation that takes away the statutory right to tea and meal breaks along with collective bargaining protections, and makes vulnerable workers jobs even less secure." More>>

ALSO:

Gordon Campbell: On Pharmac, Gough Whitlam And Sleater-Kinney

We’re not at the outset of these negotiations. The outset was six years ago, and negotiators were hoping to have some sort of ‘framework’ deal finished in time for the APEC meeting in a few weeks’ time. These ‘extreme’ positions are what we’ve reached near the intended end of the negotiations… More>>

ALSO:

PM Of Many Hats: Questions, No Answers On Whale Oil

Dr RUSSEL NORMAN (Co-Leader – Green) to the Prime Minister: How many times since November 2008 has he spoken with blogger Cameron Slater on the phone and how many times, if any, has he texted him?
Rt Hon JOHN KEY (Prime Minister): None in my capacity as Prime Minister. More>>

ALSO:

Aussie Investigation Dropped: Call On Minister McCully To Pursue The Case Of Balibo Five

West Papua Action is deeply concerned at the lack of any clear outcome from the Australian Federal Police inquiry into the 1975 deaths of the ‘Balibo Five’ including NZ journalist Gary Cunningham. More>>

ALSO:

'Feed The Kids' Bill: Metiria Turei To Lead Fight On Feeding Hungry Children

Green Party Co-leader Metiria Turei is urging all political parties to support the Feed the Kids Bill which she inherited today from Mana leader Hone Harawira. More>>

ALSO:

Parliament Today: State Opening Of Parliament

The House sat at 10.30am on Tuesday before MPs were summoned to hear the Speech from the Throne in the Legislative Council Chamber. More>>

ALSO:

Tertiary Education: Students Doing It Tough As Fees Rise Again

The Government is making it increasingly difficult for Kiwis to gain tertiary education as fees continue to rise and access to student support becomes even more restricted, Labour’s Tertiary Education spokesperson Chris Hipkins says. More>>

ALSO:

Housing, Iraq: PM Press Conference – 20 October 2014

Prime Minister John Key met with press today to discuss:
• Housing prices and redevelopment in Auckland
• Discussions with Tony Abbott on the governmental response to ISIS, and New Zealand’s election to the UN Security Council More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news