Search
Close this search box.

We are creating some awesome events for you. Kindly bear with us.

New Zealand improves incubator programmes for start-ups

New Zealand’s Ministry of Business, Innovation and Employment (MBIE) had recently reviewed Callaghan Innovation’s Technology Incubator and Founder Incubator programmes.

According to a recent press release, the Ministry have announced great news for the country’s innovation system as it will continue its support for both programmes, albeit some ambitious improvements.

Technology Incubator programme

The Technology Incubator programme helps start-ups commercialise complex technology like biotech and aerospace technology – largely, research coming out of universities.

These technologies are generally more expensive and take longer to commercialise, but when they do, have a significant potential for earning and job creation.

This programme will continue within a more ambitious policy framework after five years in pilot.

Lessons experienced during the pilot shall be converted into improvements that will provide world-class support to New Zealand start-ups. These include:

  1. Requiring strong commercialisation experience and access to investment from incubation providers, inviting global expertise
  2. Stronger guidelines and metrics with a serious data focus
  3. Higher repayable loan amount for new start-ups
  4. Lower percentage of management fees providers can take under the programme
  5. Alignment of projects with the Government’s wider priorities for an innovative and low-emissions economy and raising New Zealand’s levels of R&D

Founder Incubator programme

Founder Incubators are for people with great ideas. They provide services to help founders and their teams validate their ideas in the market and build a strong business around it.

They help accelerate the path to market with concentrated, core business support and extensive networks for founders.

The programme has been running since 2001 and the review found its performance satisfactory.

There are areas, however, that can be explored for improvements. These are:

  1. Scope to support entrepreneurial capability with more flexibility, which includes support for some initiatives that would not be expected to deliver direct commercialisation outcomes
  2. Opportunities for better alignment with other initiatives such as accelerators
  3. The level of funding for Founder Incubators is insufficient

Callaghan Innovation, New Zealand’s Innovation Agency, will be working closely with the Ministry in the next 12 months to address these areas for improvement.

What will happen now?

Meanwhile, services for start-ups will continue as normal. The resulting changes will be very beneficial for start-ups.

The contract changes will be implemented from January 2020, and are not retrospective.

Request for Proposals (RFPs) for Technology and Founder Incubators will be opened at the end of April 2019.

It will be open to current providers, as well as new local and international providers meeting the new ambitious criteria.

The successful providers and new ambitious contracts will be in place from 1 January 2020.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com