A pilot in progress: Exploring stakeholder perspectives of the New Zealand technology incubation model

Abstract

Business incubation has long been seen as a way to foster innovation and entrepreneurship in a region. In the early 1990s, the Israeli government built further on this concept to establish a range of technology-focused incubators with a specific purpose of creating ventures from complex technologies. Establishing high-tech firms has long been seen as a way to boost the economic development of a region, through creating fast-growing, export-focused firms which employ skilled individuals. Through the establishment of a technology incubator programme, Israel has managed to boost its economy and performance on the world stage. New Zealand, recognising its own failures at commercialising complex technologies, sought to replicate the Israeli technology incubation scheme through the development of a similar model in 2014. Three technology incubators – WNT Ventures, Astrolab, and Powerhouse Ventures – are currently operating in New Zealand in their third year of a five year pilot of the scheme. This study explored the perspectives of the three incubators, and of the ventures involved in the New Zealand technology incubation scheme. Ten semi-structured interviews were carried out to form the primary data base of the research; five from the incubator perspective, and five from the venture perspective. Secondary data, through drawing on previous research in this area, helped to support and enrich the primary findings. Through the interpretation and analysis of this data, this research explores the commonalities and contrasts between stakeholders involved in the technology incubation process and draws conclusions and recommendations which have the potential to improve the scheme outcomes.