Eleven business incubators have received $1.19 million from Industry New Zealand’s Incubator Development Programme to help them provide tailor-made services to fledgling companies.

A total of $1.5 million has now been distributed by the programme this financial year (to June 30).

“Support for business incubators is a key plank in the government’s Growth and Innovation Framework,” said Small Business Minister Pete Hodgson said. “Government support for incubators helps ensure that New Zealand innovators can turn great ideas into new businesses and jobs.”

Incubator Development Programme funding is used by incubator managers to establish best practice in business incubation. That includes incubator operations, such as management salaries, training, IT development, administrative support, marketing, mentoring and business services for incubator tenants. Businesses in incubators are not funded through the programme, but may be eligible for support from other Industry NZ programmes.

Incubators typically provide work space, support services and an intensive mentoring programme for entrepreneurs and new businesses at the start-up and early stages of development.

The recipients of the latest awards were:

Auckland
·Auckland University of Technology (AUT), Auckland - $150,000

·Massey University e-Centre, Auckland - $150,000

·Enterprise Waitakere, Waitakere - $70,000

·The Icehouse, Auckland - $110,000

·Industrial Research Ltd, Auckland - $75,000

Wellington
·Innovation Greenhouse Porirua, Porirua - $80,000

·Wellington Incubator, Wellington - $80,000

· Innovation Greenhouse, Wellington - $95,000

Christchurch
·Spark Ventures Ltd, Christchurch - $80,000

·Canterbury Innovation Incubator (Cii), Christchurch - $200,000

Dunedin
· Dunedin Fashion Incubator, Dunedin - $100,000

For more information on the incubator programme: www.incubators.govt.nz