Menu
AUT produces more companies from incubator

AUT produces more companies from incubator

THIS month two companies graduated from the Auckland University of Technology (AUT) Technology Park incubator model to become Hi-Growth companies.

AUT Technology Park marketing manager Tara Lorigan says incubation companies receive funding through New Zealand Trade and Enterprise (NZTE) for 25% of operating costs.

NZTE has a budget of $3 million available for grants to incubated companies.

“Nationwide, NZTE has set a target of 18 graduate businesses annually. Our share of that is two. It sounds reasonable but incubation can take anything from six months to three years. Not graduating as a Hi-Growth business isn’t a sign of failure; I know of a few companies who have gone on to do extremely well,” says Lorigan.

Hi-Growth companies must achieve revenue of at least $500,000 within two years of entry to the programme and have raised $500,000 external capital during incubation.

2004 Hi-Growth company Xegen develops intelligent business solution software using artificial intelligence. Its flagship product, Intellagents, will be released to the market in 2005.

Xegen director Ian Shields says the company is close to commercialisation.

“We’ve got an alpha version and have already gone into negotiation with a government agency - at this stage I can’t say who it is. We’ll be taking the full version to market next year,” he says.

Established in 2001, the programme helps businesses become profitable and established during their start-up phase. There are 14 incubation facilities around the country and most are connected with universities.

NZTE incubation manager Richard White says 65% of incubator companies are ICT-related. “We intend to be a valuable pipeline for them and this gives them a hell of a head start,” he says.

Lorigan says the biggest challenge is finding good quality start-up businesses. “It’s really hard to find the right businesses and that’s not helped by a lack of awareness about the incubator programmes.” She describes the application criteria as stringent and the incubation period as hands-on.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments