Accelerate - March 2014

Hi-tech focus for incubator funding

This year Callaghan Innovation will be rolling out a new type of incubator.

This year Callaghan Innovation will be rolling out a new type of incubator.

These will be privately owned businesses focused on the commercialisation of complex intellectual property primarily sourced from publicly funded research organisations, such as universities and Crown research institutes.

The technology-focused incubators will be able to access new repayable grants on behalf of the start-up companies they incubate. The repayable grants programme has been allocated $31.3m over four years by the Government.

The expansion of incubators is a significant step within the New Zealand innovation system. The work they will do will provide a more targeted and sophisticated approach to increasing the rate of formation and success of early-stage start-up firms. This, in turn, will support the growth of emerging sectors and technologies and foster entrepreneurship. The services these incubators will provide will include access to networks, market and technology validation, intellectual property assessment, access to capital, and advice on strategy and governance.

A request for proposals for existing and new incubators wanting funding will be published in March, with a view to having the new technology-focused incubators identified by July this year.

Callaghan Innovation currently provides operational funding to seven business incubators in New Zealand, two of which have been internationally recognised for their best-in-class incubation practices.

Updated: 7 September 2015