Infrastructure and Innovation
An Institutional Dragon’s Den
A new $300m Fund for Venture Capital for mid-sized technology companies.
- Funds are being allocated from the New Zealand Superannuation Fund and the New Zealand Venture Investment Fund (NZVIF) to provide mid-sized start-up businesses with better access to capital.
- It is aimed at businesses which are sized between $2M to $15M who often have to sell to overseas buyers early in their business life cycle.
- The Fund will be managed by the Guardians of the New Zealand Superannuation Fund and invested by NZVIF through private sector fund managers.
No doubt there will be further details released as to how this “institutional dragon’s den” will operate.
Commercialising Research and Development
There is a suite of measures aimed at providing funds to support businesses become more productive, and develop high-value, low emissions products.
This includes funding to support, incubate and grow start-ups with funding to the Commercialisation Partner Network Fund, the Pre-Seed Accelerator Fund and the Technology Incubator programme.
Apprenticeships – Old and New
Funding has been allocated to developing skills for the future, including increased tertiary tuition and training subsidies; work-safe initiatives, vocational learning and the Mana in Mahi work programme.
The Mana in Mahi work programme provides employers with a wage subsidy and support for work-readiness and pre-employment costs. The scheme is to be extended from 150 to 2000 participants.
Digital literacy for seniors is being addressed with a modest $600,000 being allocated to community organisations to provide training and teaching facilities for seniors.
On Track with Rail
KiwiRail wins big with an investment of $1 billion announced for its redevelopment. The investment will be spent on the track network, new wagons and locomotives, and replacing the existing ferries.
The aim is to get more freight transported by rail rather than road. Thereby reducing emissions and congestion on the roads. It also includes investment in regional rail and the Auckland City Rail Link.
