$2m to support growth in the technology industry

Connect Canterbury, a pilot programme to help technology companies realise their full potential, was launched this morning by Minister of Economic, Industry and Regional Development, Jim Anderton.

Another pilot has been set up in Auckland - Connect Auckland. Together the programmes are funded from New Zealand Trade and Enterprise's Sector and Regional Strategies Fund by $2 million over 3 years to 2007.

"Canterbury's technology companies will be able to lift their game under the Connect Canterbury pilot scheme, which helps them connect with technology institutions, product development, market development, investment and management organisations.

"Our technology companies need to expand into global markets and work with international research institutions. This programme, based on sound international research, will help them do that. The connect model has worked well in the USA, Scotland, Denmark, Norway and Sweden. An early model founded in the United States 20 years ago has raised US$6 billion in equity capital for the companies involved," Jim Anderton said.

Connect Canterbury is a joint New Zealand Trade and Enterprise (NZTE) - Canterbury Development Corporation (CDC) initiative developed in response to the Canterbury Information and Communications Technology (ICT) Cluster report recommendations in 2003.

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