Icehouse makes Forbes magazine's top 10

Auckland business growth centre the Icehouse has been named one of the top 10 start-up incubators in the world by Forbes magazine.

The charitable trust - founded by the University of Auckland Business School in 2001 - was the only non-United States incubator on the list compiled by the New York magazine.

Forbes wrote that the Icehouse had "launched 75 technology companies and has raised $50 million for them through its angel-investor network, the largest in New Zealand".

Icehouse chief executive Andrew Hamilton said the incubator did not get this recognition because it was the most amazing organisation in the world - "we got it because we work with some really good companies".

Ken Erskine, also of the Icehouse, said being recognised by Forbes gave prestige to past and existing clients. Hamilton added that Forbes' acknowledgment would increase the Icehouse's international profile.

Erskine said the Icehouse stood apart from other incubators because it tailored its programmes to the needs of its clients. "It's not a one size fits all."

He said start-ups were taken on a journey taking 12 to 18 months and incorporated four key elements - networking, experience, expertise and links with the Ice Angels, a body of about 100 "high net worth" individuals who invested in early-stage companies.

Sixty-three Kiwi start-ups received funding last year, Hamilton said, which was not a number to be sniffed at.

"At Ice Angels we get 300 inquiries a year and we make five to seven investments."