Final nzl incubation 23 sepv2
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New
Zealand
Incubation
Country
Case
Study
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2014 MBA 434: Tuesday Session
UnaisiVuniwaqaS02000455
SeiniFotuS02006013
Hanisivai VisantiS11112274
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Outline Learning Outcomes
Concept Overview
Snapshot – Case Study
SCORE Analysis
New Zealand vs Malaysia
New Zealand/Malaysia vs Fiji
Success Factors
Conclusion
Recommendation
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Learning Outcomes
Understand Business Incubation.
Identify best practices – NZL.
Identify reasons to incubate.
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Business Incubator?
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Goal
Graduate:Successful firms Financially viable
Potential:create jobsrevitalize neighborhoodscommercialize new technologiesstrengthen economies
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Incubationservices
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IncubationProcess
3 – 5 years
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IncubationOwners
• Private
• Private non-profit
• Local government
• State government
• Federal government
• University
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Accelerates growthCreate jobsImproves entrepreneurial climateNetworking
Why incubate?
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Why?
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Snapshot
Purpose of study:
Analyse public policy in incubation
development
Identify critical success factors for
development of incubators
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Background
Incubator policy introduced 2001
Based on Israeli model
High-tech and high growth oriented
Learning - USA, Australia and Europe
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Why IncubatorsNew Zealand?
Growth oriented SMEs
Remoteness
Accelerate new companies –
VC Industry
SME - 85% market share
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UltimateEnhance survival & growth
IntermediatePromote best practice
Networking - interested parties
Angel investors
Venture capitalist
Networking with CRI’s
Objectives
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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
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Support Mechanisms
NZTE;
export supportmarket development assistanceinternational networkstraining and knowledge programs funding assistance serviceinternational growth fund
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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
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E-centre Ltd
Ice House
Creative HQ
CII – Canterbury Innovation Incubator
NewZealand Incubators
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Central Government (NZTE)
Local Councils & Economic Development Agencies
Universities
Crown Research Institutes
Private Sector Organizations & Companies
New Zealand Stakeholders
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Incubation Drivers
The two broad drivers are;
1. Boosting export revenues
1. Commercialisation of R&D High value employment
creation
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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
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How to Access the Fund
Investors must be accredited
Evaluation process:desktop evaluationsite visit detailed due diligencecapabilities - potential investment partner
Angel investor networks titled ‘Escalator’ alsosupport companies to be investment ready
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Setting up of viable enterprise
Appropriate feasibility study
Governance & management
Good networking
Clear focus & direction
Success Factors
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SCORE Analysis
Strengths
Challenges
Options
Responses
Effectivenessefficient reliable
elegant appropriate
integrated
strength challenge
option response
effectiveness
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Achievement of best practice
Good networking
Push towards financial independence
Clear focus and direction
Effective partnership between government &
incubation industry
Funding process
Strengths
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Challenges
Financial sustainability
Source & retain - management
Measuring effectiveness
Data – graduated incubatees
“Red tape”
$ - registering
Commercialisation of innovations
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Opportunities
Peer to peer networking
Knowledge sharing
Strategic partnerships & alliances: University – branding & credibility
Banks & business angels - funding
CSR Programs Funding
Expertise
Links to Markets
Commercialisation
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Responses/regulations/returns/rewards
• Political will
• Laws and policies
• Key stakeholder support
• Satellite incubators - government
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Effectiveness
Is it Integrated?Promotes PPP with Government providing an enabling environment
Is it Appropriate?
SME Development stimulates NZ Business Environment
Is it Reliable?
Linkages Universities for Learning and Growth and Re-engineering process
Is it Efficient?
Proper utilisation of funding and quality mechanism in place
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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/
Partnership
Structure
Universities
Commercial entities
Regional economic agencies
Universities
National Authorities
Voluntary Organisations
Monitoring &
Evaluation
Regular statistic report
Annual performance benchmark
Performance data – former tenants
Government – none
Incubator management -
informal
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• Scale and types of business
• Support by government
• Stakeholder support
• Data collection
Fiji vs Malaysia & New Zealand
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• Policies
• Learning and Growth
• Sustainability
• M&E
Fiji vs Malaysia & New Zealand
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0
1
2
3
4
5
To contribute tocompetitiveness and local job
creaction
To help universities and R&Dcentres commercialise know-
how
To help companies generatespin-of activities
To help disadvantagedcommunities/individual with
projects
To contribute to technologytransfer and innovation and
wealth creation
Importance of Objectives
NZ
Malaysia
Fiji
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Incubation processProper management:
performance assessments
report regular statistics
Clear governance rules
Entry & exit procedures & standards
Government fundingAnnual assessments & rating
Operations
Management
Financial performance
Best practice?
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Monitoring & evaluationIncubationPost incubation
Best practice?
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55%
18%
1%
12%
7%
7%Subsidies - NationalAuthorities and publicagenciesIncome from banks and otherprivate sector organizations
Income from universities andother R & D organizations
Rental income and otherincubator charges
Other earned income
Investment income
How incubators cover costs
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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
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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
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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
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Acknowledgements
Our Lord God Almighty
Professor James McMaster, Professor Management Studies
Ravi Chand, National Centre for Small
and Micro Enterprises Development
Akanisi Waqanicakau, National Centre for Small
and Micro Enterprises Development
Our families
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Kia ora | Thank you!