Tauranga firm named as key incubator

Andrew Coker

Tauranga's WNT Ventures was yesterday named as one of a group of business incubators selected to form an expanded government-backed network designed to get more high-growth startup companies off the ground.

"This initiative is significant for the Bay in terms of highlighting some of our most innovative technology," said Andrew Coker, chief executive of Priority One.

The fact that the Tauranga team was the only one of the selected incubators to be based outside the main centres sent a positive signal about the strength of the local hi-tech ecosystem, said Timothy Allan of Locus Research.

"The cross-pollination of skills from WNT will enable a greater capability for the development of the companies, technologies, and products coming through the incubator," said Mr Allan.

Locus Research is part of the Newnham Park technology hub including Plus Group, which is one of the venture's partners, together with Wharf 42 and the Titanium Industry Development Association. Quayside Holdings, the Bay of Plenty Regional Council's investment arm, is also a part of the venture. The partners came together specifically to apply for the new programme in March.

WNT Ventures will have access to Callaghan's pilot repayable grant programme.

"The incubator will lift the profile of new businesses and technologies and drive development and growth," said Plus Group managing director Steve Saunders. "I'm looking forward to working with a broad range of companies."

Warwick Downing, chief executive of Titanium Industry Development Association, said the three core tech partners brought together a broad technology base.

"By working as a group, WNT are able to apply expertise in a wide range of IP areas," he said. "And for TiDA, it builds on the hi-tech manufacturing that has been established in the BOP and builds on the relationships that have been established nationally."