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

Scoop's Pledgeme Campaign To Become A Not-For-Profit Finishes Sunday 29th - Please Pledge Now
AMA: Scoop's 'Invisible Paywall'


Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data.

“I will be addressing the specific complaints that I have received, in accordance with the Inspector-General of Intelligence and Security Act 1996. But there is also a clear need to provide as much factual information to the complainants, and to the wider public, as is possible.”

“For that reason, I have decided not only to investigate the complaints but also to bring forward and expand the relevant parts of my ongoing programme of review and audit of GCSB procedures and compliance systems...” More>>

 

PARLIAMENT TODAY:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Enrol By Friday: Time’s Almost Up Before Northland By-Election

If you want to vote in the Northland by-election and you’re not enrolled, time is running out. That’s the message from Northland Registrar of Electors Deborah Darton, with just a few days to go until the by-election this Saturday, 28 March. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

RMTU: No Public Submissions On International Government Procurement Deal

“The government is preparing to assent to the Government Procurement Agreement, a World Trade Organisation Treaty which opens up New Zealand Government contracts to foreign companies and closes the door on local businesses and their workers. However the Foreign Affairs, Defence and Trade Select Committee is refusing to take public submissions on the decision.” More>>

ALSO:

Gordon Campbell:
On Pacific Spying

So New Zealand spied on its friends and allies in the Pacific – and has not only been passing on the results to the NSA, but has apparently passed on the details of the Pacific’s relations with Taiwan to our other best friends, the Chinese. On the side, the Key government has also been using the security services to gauge the chances of Trade Minister Tim Groser landing the top job at the WTO... More>>

ALSO:

State Housing Transfer: Salvation Army Opts Out

The Salvation Army has decided against negotiating with Government for the transfer of Housing New Zealand stock.
More>>

ALSO:

IPCA Releases Findings: “Roastbusters” Report Sets Out Litany Of Mistakes

Labour’s Jacinda Ardern: “Perhaps the most damning finding by the IPCA is that Child Protection Team staff did not ‘properly evaluate all available offences when determining the outcome of their respective investigations’". More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news