18 September 2017
IP Expert NZ [FYI request #6446 email]
Dear IP Expert NZ
Thank you for your email request of 20 August 2017 to Callaghan Innovation for:
.. an historic overview of all financial support in the last years, provided to CDC, Powerhouse
and/or the Powerhouse supported businesses. This should be broken down into:
- Direct support to CDC / Powerhouse
- Indirect support to the CDC / Powerhouse' businesses (repayable loans, project grants & growth
Your request has been considered under the Official Information Act 1982 (the Act).
Callaghan Innovation runs a Business Incubator Award Programme that provides funding to
incubators to work with businesses with high growth potential to speed up their path to
market. Incubators can apply for a funding grant to assist with operating expenditure to work with
these businesses. The amount of funding is determined as part of contract negotiations with the
incubator. Under the Business Incubator Award Programme, Technology Incubators also have
access to Pre-Incubation grants and Repayable Loans for the companies in which they have
Since 2014, Callaghan Innovation has provided Powerhouse Ventures Limited with $3,375,000 in
operational funding, and $1,855,000 for 53 pre-incubation grants to investigate whether there is
commercial viability of Intellectual Property.
Twenty eight businesses supported by Powerhouse Ventures Limited have had repayable grants
approved, with a total of $5,442,500 paid or drawn down to date. Three businesses supported by
Powerhouse Ventures Limited have also received grant funding directly from Callaghan Innovation:
• Certus Bio – Student Grant;
• Invert Robotics – Student Grants, a $100,000 Technology Project Grant in 2012 and a
current Project Grant for $60,000;
• Tiro Medical – Student grants and a current Project grant for $40,000.
Callaghan Innovation does not provide funding to CDC under the Technology Incubator
More information about Callaghan Innovation’s support for Technology Incubators can be found at http://www.callaghaninnovation.govt.nz/access-experts/technology-incubators.
You have the right to request the Ombudsman to review this response. You can contact the
Ombudsman on www.ombudsman.parliament.nz
or 0800 802 602. Please contact [email address]
if you require any further information.
Acting Chief Executive