With 65 percent of new businesses failing in the first few years, incubators are an initiative to boost their chances. Examples of these are The Icehouse, based in Auckland, and Creative HQ out of Wellington.
These incubators offer premises, help to raise capital, business advice and services to fledgling businesses of all types. In return, the businesses are given 90 days to reach certain targets. If not, they’re out. The agenda is simple – to give start-ups a head start.