Tech Incubator Programme
There are three organisations in the Callaghan Innovation's "Tech Incubators" programme which provides pre-incubation grants and repayable loans for commercialising of IP. The organisations are Astrolab, Powerhouse, and WNT Ventures.
The programme is designed to support the commercialisation of IP from Universities, Crown Research Institutes, and private sources.
Via one of the Tech Incubators a start-up can receive a loan of up to $450k to match $150k of private investment (total of $600k). A pre-incubation grant provides the Technology Incubator with up to $35k to validate the commercial viability of the IP. The Repayable Loan is repaid from sales revenue at a rate of 3% of sales and has an interest rate of 3% per annum.
The 3 Tech Incubators presented at Ministry of Awesome's Coffee & Jam during July 2018, see the videos of these events below.