In light of the success of the pilot, the New Zealand government is investing further in a new, improved technology incubator program, which will have a strong policy focusing on excellent commercialisation experience, access to investment and pathways to global markets.
Launching in 2020, this initiative will run for eight years. It will give science-based start-ups access to four tech incubators - one more than in the pilot. Incubated ventures will be eligible for repayable grants of up to $1,000,000 ($750,000 in the form of a government grant, matched by $250,000 co-funding from the incubator) – a significant increase in the amount of $600,000 offered during the pilot. The selected incubators themselves will have access to 50% co-funding for operational expenses, up to $1,500,000 per year.