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A generous offer from FX Networks to host a technology incubator in their Marine Parade premises has fired up a local team keen on finding out if this concept has legs in the Hawke's Bay market. Incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services (Wikipedia). Sceptics of incubators say that they shelter people from the harsh commercial world, whilst supporters argue that well run incubators replicate the assistance that good start-up businesses get in the commercial sector (from business mentors & service providers), and often help guide people to outcomes a lot faster.
Regardless of whether you are a supporter or a critic, there is a strong desire to make this work, with support from EIT, Venture HB, the Chamber of Commerce, as well as number of commercial organisations, all willingly giving time & resource to keep another positive HB tech initiative moving forward. We have already seen a number of steps taken on this (including presentation by NZTE & Creative HQ). We will have a further update at the ICT gathering on Monday 12th October 3:00pm at the Opera House (invites should be going out shortly for this).
14:30, 29.09.2009
I think this is a great idea. I read yesterday that 3 in 5 businesses started in NZ fail in the first few years. I was a little surprised it was that high. Whilst there is a lot of information avaiable, developing a new business in a supported environment is huge. HB is dripping in talent and ideas and to have an incubator can only help the fledglings in our community fly. And that in the big picture, is good for all of us.
17:17, 29.09.2009
Unless we support activities such as incubators, it is unlikely that the Hawke’s Bay economy will have the business base to present attractive opportunities to young entrepreneurs with great ideas.
There are plenty of options for talent globally, and this great initiative is one way for Hawke’s Bay to attract the talent we need to thrive. It is probably also part of the solution to improving the regions productivity. Go for it!
21:44, 29.09.2009
I’ve seen most incubators in New Zealand and also seen what they are doing in Wales at their Techniums.
http://www.drury.net.nz/?s=Technium
It would be great to see an initiative get off the ground but there is so much required for a young business to be successful. I do hope it works and in a balanced economy you would hope to see some investment and energy in company ‘births’. So it’s a good initiative.
I’m more interested in valuable resources being put into the next stage of businesses. How to accelerate businesses that have already made it to $1m in turnover and grow them to $10m. Once they have hit $1m (or some other number) considerable risk has been eliminated and these types of companies can make a real difference to the economy quickly.
Often incubators come up as the first initiative for economic development programs. I just question whether applying resources to companies at the next stage isn’t a better place to put effort.
Sorry if that is controversial to say but thought it was worth throwing into the discussion at this early stage. If an incubator is started I’d be happy to support it and help out as I can.
Rod
19:37, 30.09.2009
Ok – so how about instead of focusing on an ‘incubator program’, we focus on the potential of the businesses themselves.
Who are the best candidates to aid the economic development of the region?
Does it matter whether they are a start-up, or worth +/- $1m?
11:36, 02.10.2009
We can have our cake and eat it too! Lets collectively pitch in and do it all – let’s focus on generating the new wave, while working with Venture HB and others to develop programmes to really assist the $1-2m businesses that have the potential to be great, in addtition to having clearly defined investment paths for those at the next level again. We have the capability as a region to take all of this on board, and I for one am all for growth across the board…