Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Wellington Business Incubators Granted $260,000

15 July 2001

Three Wellington-based business incubators have been awarded a total of $260,000 in the first Industry New Zealand Incubator Awards.

- Gracefield-based Industrial Research Limited was awarded $100,000.

- Central Wellington-based Innovation Greenhouse was awarded $70,000.

- Porirua-based Whitirea Community Polytechnic was awarded $90,000.

Funding under the awards is provided for a wide range of purposes, including installation of IT and web infrastructure, provision of business services to tenants, research into business incubator best practice, management training and salaries, and visiting expert programmes.

“The emergence of business incubators in Wellington is a really positive development for the city’s economy. They will play a key role in building bright, innovative businesses that will make a valuable contribution to the region through the creation of commercially viable products and services.

“Industry New Zealand is keen to support their development, which will lead to more jobs and greater prosperity. American research showed that 87% of incubated companies remained in business three years after leaving their incubators, and 85% remained in the community,” said Neil Mackay, chief executive of Industry New Zealand.

“Business incubators will help arrest the failure of small businesses. In New Zealand, 86% of enterprises employ less than 5 people. It has been suggested that around 80% of them fail within three years of establishment.”

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>