Sunday, 15 July 2001 Media Statement
Twelve business incubators around New Zealand will benefit from the first round of awards from the Government's new
incubator support programme.
The annual awards, a new initiative in this year's Budget, total $950,000. Individual awards range from $10,000 to
$130,000.
The money will be used by incubator managers for purposes including business planning, training, IT development,
administrative support, marketing, mentoring and business services for incubator tenants, and bringing in business
incubation experts from overseas.
Incubators typically provide work space and support services for entrepreneurs and new businesses at the start-up and
early stages of development.
"Stimulating economic growth and supporting innovation are key goals for the Government," said Small Business Minister
Pete Hodgson. "Incubators are relatively new to New Zealand but they have excellent potential to improve the growth and
survival rates of new companies."
The awards, administered by Industry New Zealand, reward incubators taking a lead in adopting best practice programmes
and processes.
The recipients in the first round are the Dunedin Fashion Incubator ($35,000), the Christchurch-based Canterbury
Innovation Incubator ($130,000) and Spark Ventures Ltd ($70,000), Wellington's Innovation Greenhouse ($70,000), the
Lower Hutt-based Industrial Research Limited incubator ($100,000), the Porirua-based Whitirea Community Polytechnic
incubator ($90,000), and five Auckland area incubators: the AUT Technology Park ($100,000), the UNITECH Centre for
Innovation and Entrepreneurship ($100,000), e-centre Massey ($110,000), The Institute of Entrepreneurship (University of
Auckland) ($125,000) and the Aotearoa Charitable Trust for Fashion Designers ($10,000).
Ends