Law was a former tenant of another innovation hub, The Backhouse, on the corner of Taupo Quay and Drews Ave.
Tenants were told to leave by the building’s owner, the Universal College of Learning, last year.
Former Backhouse tenants Te Manu Atatū - Whanganui Maori Business Network, Whanganui Tech and the Whanganui District Employment Training Trust have now set up at Hive HQ.
Law, who also runs Surge Consulting in the building, said a big mistake at The Backhouse was “not promoting things”.
“There are 18-year-olds right now with great ideas, who think the only options are university or maybe a polytech.
“We can bring people here and start them on a journey, even if it’s only part-time, and that could be enough to launch them into an incubator.
“That could bring a good product that goes to market.”
He said Hive HQ was working closely with economic development agency Whanganui & Partners, and it had the backing of Whanganui mayor Andrew Tripe.
But no ratepayer funding was going into the venture.
Law said, “after $30,000″, he stopped counting how much he had put into Hive HQ himself.
“If you’ve got an idea, come for a coffee, get some advice, and maybe work here a couple of days a week on a membership.”
Hive HQ membership is $25 per week.
“You get to the point where you join 20 or 30 people in an incubator and meet some real business people.
“After that, you’re ready for an accelerator.”
An accelerator provides mentorship and resources to early-stage businesses over a short, intensive period.
Law said a Dragons-Den style event would follow, similar to Innovate Whanganui, which was previously run by Whanganui & Partners.
“If we have 100 businesses join up for an incubator, 20 might make it into an accelerator, and two or three would make it to the Dragon’s Den.
“That’s how it should be, but we’ll keep recycling people back around.”
Law said Hive HQ’s goal was to take people with an idea through to having three or four employees and $1 million in turnover, meaning each earned around $150,000 a year.
“Things are getting more expensive, our wages aren’t keeping up, and we are worse here [Whanganui] than other places.
“People call it ‘future industries’, but we need new industries here right now.”
If there were 1000 new businesses in Whanganui by 2035, that meant 3000 high-paying jobs, and an additional $1 billion GDP, he said.
“It’s crazy, but there’s no point just going for 10 new businesses.
“If we shoot for the stars and land on the moon, f**king awesome.”
There had already been “three big wins” for businesses associated with the hub – overseas investment, a $1.5m evaluation, and a global product rollout, he said.
Other planned events included hackathons and 72-hour build-a-business events.
“It’s called a start-up weekend, and they’re done everywhere else in the country. Why not here?
“If you are looking to put a square peg in a round hole, we are the place for you.”
Mike Tweed is a multimedia journalist at the Whanganui Chronicle. Since starting in March 2020, he has dabbled in everything from sport to music. At present his focus is local government, primarily Whanganui District Council.
