Successful first year for hi-tech start-ups 22 Jul 2015
Related articles
- Sick leave expected to increase during World Cup Sport
- Snow on The Remarkables Living
- Sludge Report #192: The Naked Budget Columns
- Budget 2010 – Building the Recovery News
- NZ manufacturing activity reaches highest since 04 Business
- Budget provides $321m for RS&T activities News
- NZ economy expands at fastest pace in two years Business
- Positive indicators in labour market Recruitment
- NZ dairy herd now matches human population Business
Hon Steven Joyce
Minister of Science and Innovation
22 July 2015 Media Statement
Successful first year for hi-tech start-ups
Science and Innovation Minister Steven Joyce today welcomed a successful first year for innovative start-ups receiving repayable grants from the new technology incubators funded through Callaghan Innovation.
The Technology Incubator Programme has so far approved funding of $7.8 million for 18 hi-tech companies through the repayable loan scheme, with each receiving up to $450,000 over two years.
The technologies invested in cover the ICT, sensing and automation, food and beverage technology, advanced material, design and manufacturing, and biotech industries.
“The incubators programme is an important part of growing new industries for New Zealand in areas like ICT and hi-tech manufacturing,” Mr Joyce says.
“Some of the proposals have the potential to dramatically disrupt a variety of sectors in the global market. For example one of the technologies, which aims to reduce the cost of water removal and recovery, could be a game changer worldwide. Cost reduction in this process could have global implications for the cost of a range of everyday products.
“Technological breakthroughs such as these are why the scheme exists. Growing many more new companies in our hi-tech sector is crucial to maintaining a strong diversified economy.”
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 and include Powerhouse Ventures, Astrolab and WNT Ventures.
Cabinet agreed in Budget 2013 to allocate $31.3 million in new funding over four years for the repayable grants. Government funding is matched 1:3 by incubator owners contributing up to $150,000.
The grants will be repayable out of each company’s revenue.
Appendix of funded projects
Name/Industry | Description |
Tiro Life Sciences Limited | Technology for the detection of breast cancer in dense tissue |
Koti Technologies Limited | Ceramic coatings to produce hard-wearing, bacteria-killing products for high-touch surfaces |
Avalia Immunotherapies Limited | Immunotherapies for cancer and other incurable health conditions |
CropLogic Limited | Aerial image analysis to help growers optimise crop yields |
Certusbio Limited | Biosensor technologies for industrial and environmental monitoring |
Fluent Scientific Limited | Facial and voice analysis to increase the accuracy of emotion detection |
Invert Robotics | Technology for detecting surface cracks in stainless steel tanks and silos |
Collaborative Digital Editing | Online hub for film collaboration |
Improved Cloud | Cloud-based software integration |
HiVolt Fluidics | Advanced techniques for removing pathogens in liquid food |
High Performance, Fitness and Well-Being | Health and fitness performance technology |
Personal Motion Tracking | Physical activity tracking |
Online Education | Online communication between students and teachers |
Water Purification | Water removal and recovery technology |
Care Technology | Integrating computer interfaces and video communication experiences |
One Six One Limited | Software for DJs to seamlessly integrate DMX lighting with live audio |
IPO Limited | Point-of-care bovine mastitis diagnostic test |
Bio-materials in Food Production | Environmentally conscious materials in food production |
News
Hilary Timmins' Award-Winning UK Documentary Series To Inspire NZ Students
29 Jun 2020 Education
Dream Catchers, produced and directed by Hilary Timmins, celebrates the success stories of more than thirty inspirational New... more
New Zealand reaffirms support for Flight MH17 judicial process
7 Mar 2020 News
Ahead of the start of the criminal trial in the Netherlands on 9 March, Foreign Minister Winston Peters has reaffirmed the need to... more
Business
NZ Government's Economic package to fight COVID-19
17 Mar 2020 Business News
The Coalition Government has launched the most significant peace-time economic plan in modern New Zealand history to cushion the... more
NZ Government announces aviation relief package
19 Mar 2020 Business News
Transport Minister Phil Twyford today outlined the first tranche of the $600 million aviation sector relief package announced earlier... more
Living
Diversity was Key at New Zealand Trade Tasting in London
6 Jun 2022 Food & Wine
New Zealand Winegrowers Annual Trade Tasting was recently held in London, on Wednesday 4 May, in Lindley Hall.
It was the first... more
Kiwi author stuns Behind the Butterfly Gate
12 Jan 2022 Arts
Hidden behind the Butterfly Gate is where the secret has been kept for 76 years...
New Zealand writer Merryn Corcoran’s... more
Property
Fairer rules for tenants and landlords
17 Nov 2019 Property
17 NOVEMBER 2019
The Government has delivered on its promise to the over one million New Zealanders who now rent to make it fairer... more
New Zealand Government will not implement a Capital Gains Tax
17 Apr 2019 Property
The Coalition Government will not proceed with the Tax Working Group’s recommendation for a capital gains tax, Jacinda Ardern... more
Migration
Boosting border security with electronic travel authority – now over 500,000 issued
19 Nov 2019 Migration
19 NOVEMBER 2019
We’ve improved border security with the NZeTA, New Zealand Electronic Travel Authority, which helps us to... more
Christchurch reinstated as refugee settlement location
18 Aug 2018 Migration
18 AUGUST 2018
HON IAIN LEES-GALLOWAY
The announcement that Christchurch can once again be a settlement location for refugees... more
Travel
Gallipoli Anzac Day services cancelled
19 Mar 2020 Travel & Tourism
The New Zealand and Australian Governments have announced this year’s joint Anzac Day services at Gallipoli will be cancelled... more
New Zealanders advised not to travel overseas
19 Mar 2020 Travel & Tourism
New Zealanders advised not to travel overseas
more
Sport
The Skipper's Diary: Sir Richard Hadlee honouring his father and NZ's Forty-Niners
27 Oct 2019 Cricket
NZNewsUK London Editor Charlotte Everett spoke to Sir Richard Hadlee about why he’s chosen to publish his father’s... more
PREVIEW: All Blacks v England semi-final
26 Oct 2019 Rugby
The two most convincing quarterfinals winners are set to square off in a semifinal showdown for the ages when the All Blacks meet old... more
Columns
Gordon Campbell on the Gareth Morgan crusade
11 Nov 2016 Opinion
Gordon Campbell on the Gareth Morgan crusade
First published on Werewolf
The ghastly likes of Marine Le Pen in France and Geert ... more
Gordon Campbell on the US election outcome
10 Nov 2016 Opinion
Column - Gordon Campbell
Gordon Campbell on the US election outcome
Well um.. on the bright side, there (probably)... more
Kiwi Success
Congratulations to Loder Cup winner
26 Sep 2018 People
25 SEPTEMBER 2018
The Loder Cup, one of New Zealand’s oldest conservation awards, has been awarded to Robert McGowan for 2018... more
Appointments to New Zealand National Commission for UNESCO
16 Aug 2018 Appointments
16 AUGUST 2018Appointments to New Zealand National Commission for UNESCO
HON JENNY SALESA
Associate Education Minister Jenny Salesa is... more
Recruitment
Historic pay equity settlement for education support workers
14 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more
Historic pay equity settlement for education support workers
22 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more