Trio bid for techno start-up cash

Peter Wren-Hilton, Steve Saunders and Warwick Downing

Three of the Bay of Plenty's leading technology focused groups have come together to mount a joint bid for a slice of a new $31.3 million government fund to create business incubators.

Wharf42, Newnham Park and the Titanium Industry Development Association (TiDA) last week submitted a proposal as WNT Ventures to become part of an expanded national network of funding for incubators, aimed at encouraging more innovative, complex technology-based start-up companies.

"This is an entrepreneur-led initiative, based on collaboration and leadership," said Peter Wren-Hilton, chief executive of Wharf42, which recently announced a tie-up with Silicon Valley's biggest IT start-up accelerator Plug And Play International to set up an IT incubator in Tauranga.

"Our proposal is engaging the region's key innovation hubs, research institutes, investor networks, regional councils and economic development agencies," said Mr Wren-Hilton.

Between them, the three partners cover off key sectors of the potential start-up sector, with TiDA being the centre of the country's expertise in 3D metallurgical manufacturing, and Wharf42 able to tap into its experience of working in the information technology sector of one of the world's leading entrepreneurial ecosystems, Silicon Valley.

Newnham Park is the site of a number of entrepreneurial tech-focused businesses, but the leading role in the proposed incubation collaboration will be played by the Plus Group of agro-tech companies such as Tim Allen's Locus Research, which is focused on product design, says Steve Saunders, who heads the Plus Group.

"We've gone for a three-way approach, so we've got a nice mix with a broad skill base," said Mr Saunders. Locus Research, which recently moved into purpose-built premises at Newnham Park, would be a key participant because of its experience in product design and validation.

Callaghan Innovation, the Crown research institute running the new programme, said the new type of technology-focused incubator would be a privately owned business focused on the commercialisation of complex intellectual property, primarily sourced from publicly funded research organisations.

It remains unclear how many new technology incubators will receive funding, but the partners in the Bay of Plenty initiative believe there will be one each in the main centres of Auckland, Wellington and Christchurch, with perhaps one or two more in one of the regions.

"I think it would be very good for the region," said TiDA chief executive Warwick Downing. "We've got a good shot by collaborating, not competing with each other, and covering off different market sectors. Between us, we have a pretty good record in those areas and in commercialising technology."

The shortlist of potential incubators is expected to be announced within the next two weeks.