A Government decision to empower business incubators to offer $50,000 grants to young technology companies is well timed.
The Science and Innovation Ministry initiative is in recognition of the way the incubator industry has developed.
The next decade has the potential to be one of the best decades for New Zealand technology companies to succeed internationally.
The country’s eight incubators are now well placed to support them.
The incubators have developed a significant role in the technology start-up development phases with direct links to research providers, universities and crown research institutes, to ensure the funding is targeted appropriately.
The incubators’ structures, systems, and investor networks will ensure that the research grants are leveraged to further assist the tech start-ups to achieve product and market validation earlier and get to market that much sooner.
The next decade has the potential to be one of the best decades for New Zealand tech companies. Our high-tech companies can compete on a global stage, and our incubators provide them with the tools and services to go global.
This ministry support initiative recognises that commitment from our companies and the capabilities of the New Zealand incubators.
New Zealand’s incubators currently host about 120 ventures. By extending the network of research funding providers to include the business incubators, the Science and Innovation Ministry initiative significantly expands the opportunity for young technology start-ups to access research funding.