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Final nzl incubation 23 sepv2

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New Zealand Business Incubators

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Final nzl incubation 23 sepv2

  1. 1. New Zealand Incubation Country Case Study
  2. 2. 2014 MBA 434: Tuesday Session UnaisiVuniwaqa S02000455 SeiniFotu S02006013 Hanisivai Visanti S11112274
  3. 3. Outline  Learning Outcomes  Concept Overview  Snapshot – Case Study  SCORE Analysis  New Zealand vs Malaysia  New Zealand/Malaysia vs Fiji  Success Factors  Conclusion  Recommendation
  4. 4. Learning Outcomes  Understand Business Incubation.  Identify best practices – NZL.  Identify reasons to incubate.
  5. 5. Business Incubator?
  6. 6. Goal Graduate: Successful firms Financially viable Potential: create jobs revitalize neighborhoods commercialize new technologies strengthen economies
  7. 7. Incubation services
  8. 8. IncubationProcess 3 – 5 years
  9. 9. Incubation Owners • Private • Private non-profit • Local government • State government • Federal government • University
  10. 10. Why incubate? Accelerates growth Create jobs Improves entrepreneurial climate Networking
  11. 11. Why?
  12. 12. Purpose of study: Snapshot Analyse public policy in incubation development  Identify critical success factors for development of incubators
  13. 13. Incubator policy introduced 2001 Based on Israeli model High-tech and high growth oriented Learning - USA, Australia and Europe Background
  14. 14. Why Incubators New Zealand? Growth oriented SMEs Remoteness Accelerate new companies – VC Industry SME - 85% market share
  15. 15. Ultimate Enhance survival & growth Intermediate Promote best practice Networking - interested parties Angel investors Venture capitalist Networking with CRI’s Objectives
  16. 16. Programme Mechanism  Incubator awards  annual merit-based financial awards - approved incubators  The Incubator Development Unit (IDU)  Residing within NZTE  Servicing the incubator network  Administer incubator awards
  17. 17. Support Mechanisms NZTE; export support market development assistance international networks training and knowledge programs funding assistance service international growth fund
  18. 18. Performance so far •First Incubator in 2001 •19 Incubators received grant of 16.73m NZD •A number have closed, merged or ineligible •8 incubators in operation •7 have secured approved status and in receipt of government subsidies •Total of 160 incubatees; an average of 20 per incubator
  19. 19. NewZealand Incubators  E-centre Ltd  Ice House  Creative HQ  CII – Canterbury Innovation Incubator
  20. 20. New Zealand Stakeholders  Central Government (NZTE)  Local Councils & Economic Development Agencies  Universities  Crown Research Institutes Private Sector Organizations & Companies
  21. 21. Incubation Drivers The two broad drivers are; 1. Boosting export revenues 1. Commercialisation of R&D  High value employment creation
  22. 22. Objectives Incubation Support Program Enhance success and growth of early-stage Promote best practice Enhance networking:  among incubator managers and with organizations between incubators and universities / CRIs Encourage technology transfer and commercialisation
  23. 23. How to Access the Fund  Investors must be accredited  Evaluation process: desktop evaluation site visit detailed due diligence capabilities - potential investment partner  Angel investor networks titled ‘Escalator’ also support companies to be investment ready
  24. 24. Setting up of viable enterprise Appropriate feasibility study Governance & management Good networking Clear focus & direction Success Factors
  25. 25. SCORE Analysis Strengths Challenges Options Responses Effectiveness strength challenge option response effectiveness efficient reliable elegant appropriate integrated
  26. 26. Strengths  Achievement of best practice  Good networking  Push towards financial independence  Clear focus and direction  Effective partnership between government & incubation industry  Funding process
  27. 27. Challenges  Financial sustainability  Source & retain - management  Measuring effectiveness  Data – graduated incubatees  “Red tape”  $ - registering  Commercialisation of innovations
  28. 28.  Peer to peer networking  Knowledge sharing  Strategic partnerships & alliances: Opportunities  University – branding & credibility  Banks & business angels - funding  CSR Programs  Funding  Expertise  Links to Markets  Commercialisation
  29. 29. Responses/regulations/returns/rewards • Political will • Laws and policies • Key stakeholder support • Satellite incubators - government
  30. 30. Effectiveness Is it Efficient? Proper utilisation of funding and quality mechanism in place Is it Reliable? Linkages Universities for Learning and Growth and Re-engineering process Is it Appropriate? SME Development stimulates NZ Business Environment Is it Integrated? Promotes PPP with Government providing an enabling environment
  31. 31. New Zealand Malaysia Objectives Generate hi-tech growth-orientated internationally exporting SMEs Technology transfer and Innovation Strategy Framework Incubator Sup-port Program (ISP) Zealand Trade and Enter-prise Incubator Development Unit National Incubator Development Frame-work Period of grant funding Annual basis Self sustainability 2014 Open ended Long term funding % of funding 50% of running costs 100% running & start-up costs Ownership/ Universities Universities Partnership Commercial entities National Authorities Structure Regional economic agencies Voluntary Organisations Monitoring & Evaluation Regular statistic report Annual performance benchmark Performance data – former tenants Government – none Incubator management - informal
  32. 32. Fiji vs Malaysia & New Zealand • Scale and types of business • Support by government • Stakeholder support • Data collection
  33. 33. Fiji vs Malaysia & New Zealand • Policies • Learning and Growth • Sustainability • M&E
  34. 34. To contribute to competitiveness and local job creaction 5 4 3 2 1 0 To help universities and R&D centres commercialise know-how To help companies generate spin-of activities To contribute to technology transfer and innovation and wealth creation To help disadvantaged communities/individual with projects Importance of Objectives NZ Malaysia Fiji
  35. 35. Incubation process Proper management: performance assessments report regular statistics Clear governance rules Entry & exit procedures & standards Government funding Annual assessments & rating Operations Management Financial performance Best practice?
  36. 36. Monitoring & evaluation Incubation Post incubation Best practice?
  37. 37. How incubators cover costs 55% 18% 1% 12% 7% 7% Subsidies - National Authorities and public agencies Income from banks and other private sector organizations Income from universities and other R & D organizations Rental income and other incubator charges Other earned income Investment income
  38. 38. Conclusion  Innovation - socio-economic development  Incubators strong engine:  economic development  job creation  Long term success - SME  BI vehicle ideas – socio-economic value  Develop graduate ideas  SME economic backbone  Incubation future business model
  39. 39. Recommendations  Feasibility assessment – potential incubatees  Innovation – local market  Competitive percentage – owners equity  Partnerships & strategic alliances  Private sector partnership  Attractive remuneration  Succession planning  Process measure success  Monitoring program - graduates
  40. 40. References • http://www.slideshare.net/hanisivai/savedfiles?s_title=business-incubation- 26891501&user_login=mustafachangi • http://www.slideshare.net/hanisivai/savedfiles?s_title=business-incubation-rajeshagrawal& user_login=niabidocs • http://www.slideshare.net/peshwaacharya/business-incubators-38574758?qid=4403512c-5559-4ced-af6d- 16683e83f301&v=default&b=&from_search=24 • http://www.slideshare.net/markslong/introduction-to-business-incubation?related=1 • http://blog.earthgrid.com/accel/the-institutions-of-business-development/ • http://www.newzealand.com/int/artice/auckland-nightlife/ • http://ikartin.dot5hosting.com/3315.html • http://www.cbicc.org/Economic_Development/Incubator_Program.aspx • http://palamas.info/wp-content/uploads/2012/01/success.jpg • http://sweetclipart.com/multisite/sweetclipart/files/us_dollar_sign_black.png • http://www.bbicbahrain.com/images/pic-incubation. jpghttp://www.1000ventures.com/design_elements/selfmade/biz_incubators__fincurve.gif • http://www.urenio.org/wp-content/uploads/2010/03/Smart-Guide-Innovation-Incubators.jpg • http://www.yunussb.com/wp-content/uploads/2013/09/Colinsrt.jpg • http://www.theepochtimes.com/n2/images/stories/large/2011/10/23/AllBlacks130005300.jpg
  41. 41. Acknowledgements  Our Lord God Almighty  Professor James McMaster, Professor Management Studies  Ravi Chand, National Centre for Small and Micro Enterprises Development  AkanisiWaqanicakau, National Centre for Small and Micro Enterprises Development  Our families
  42. 42. Kia ora | Thank you!

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