Menu
NZ tech incubator awards first repayable grant

NZ tech incubator awards first repayable grant

Govt reveals recipient of the first repayable grant through Callaghan Innovation’s expanded business incubator network.

Science and Innovation Minister Steven Joyce has announced the recipient of the first repayable grant through Callaghan Innovation’s expanded business incubator network.

Tiro Lifesciences, an early-stage medical diagnostic company focusing initially on the development of technology for the detection of breast cancer in dense tissue, has been granted up to $450,000 over two years to develop a pain and radiation-free medical-imaging tool.

“Technology-focused incubators are designed to get more high-growth start-ups off the ground,” Joyce says. “Growing new companies in our high-tech sector is crucial to maintaining a strongly growing economy.

“Bringing more smart start-ups through the innovation pipeline will help New Zealand develop a competitive edge in this dynamic and challenging sector.”

Repayable grants are available only to start-up businesses commercialising complex intellectual property in technology-focused incubators.

“It’s great to see this kind of company, based on exciting intellectual property, coming out of the new technology incubators as envisioned," Joyce adds.

Callaghan Innovation approved eight incubators in July as part of its expanded Incubator Programme. Tiro Lifesciences is being incubated through Christchurch-based Powerhouse Ventures.

Technology-focused incubators are privately-owned businesses that concentrate on commercialising complex intellectual property sourced primarily from publicly-funded research organisations such as universities and Crown research institutes - they are modelled on the successful Israeli incubator system.

Cabinet agreed in Budget 2013 to allocate $31.3 million in new funding over four years for the repayable grants, Joyce says.

“The Government will contribute up to $450,000 over two years to successful applicants, and this funding is matched 1:3 by incubator owners contributing up to $150,000," he adds.

The grants will be repayable out of each company’s revenue.

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags Callaghan InnovationSteven Joycegovernment

Featured

Slideshows

Educating from the epicentre - Why distributors are the pulse checkers of the channel

Educating from the epicentre - Why distributors are the pulse checkers of the channel

​As the channel changes and industry voices deepen, the need for clarity and insight heightens. Market misconceptions talk of an “under pressure” distribution space, with competitors in that fateful “race for relevance” across New Zealand. Amidst the cliched assumptions however, distribution is once again showing its strength, as a force to be listened to, rather than questioned. Traditionally, the role was born out of a need for vendors and resellers to find one another, acting as a bridge between the testing lab and the marketplace. Yet despite new technologies and business approaches shaking the channel to its very core, distributors remain tied to the epicentre - providing the voice of reason amidst a seismic industry shift. In looking across both sides of the vendor and partner fences, the middle concept of the three-tier chain remains centrally placed to understand the metrics of two differing worlds, as the continual pulse checkers of the local channel. This exclusive Reseller News Roundtable, in association with Dicker Data and rhipe, examined the pivotal role of distribution in understanding the health of the channel, educating from the epicentre as the market transforms at a rapid rate.

Educating from the epicentre - Why distributors are the pulse checkers of the channel
Kiwi channel reunites as After Hours kicks off 2017

Kiwi channel reunites as After Hours kicks off 2017

After Hours made a welcome return to the channel social calendar last night, with a bumper crowd of distributors, vendors and resellers descending on The Jefferson in Auckland to kickstart 2017. Photos by Maria Stefina.

Kiwi channel reunites as After Hours kicks off 2017
Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow Electronics introduced Tenable Network Security to local resellers in Sydney last week, officially launching the distributor's latest security partnership across Australia and New Zealand. Representing the first direct distribution agreement locally for Tenable specifically, the deal sees Arrow deliver security solutions directly to mid-market and enterprise channel partners on both sides of the Tasman.

Arrow exclusively introduces Tenable Network Security to A/NZ channel
Show Comments