In 2024, Callaghan Innovation’s Deep Tech Incubator Programme marks its 10th anniversary — a decade of fostering groundbreaking technological advancements and nurturing the next generation of innovators in New Zealand.
To mark this milestone, we’ve launched Unleashing innovation: A decade of Deep Tech, a report reflecting on the programme’s significant achievements, its impact on the innovation ecosystem, and the transformative milestones that have defined its journey.
Highlights over the last ten years:
Deep tech is hard, and the Callaghan Innovation repayable grant made a big difference by enabling us to prove a couple of key technology proof points supporting us to then raise subsequent capital,
"Building a startup is really hard and you need to take all the help you can get. Bridgewest's expertise in areas like strategy development, capital raising, and building a team has been invaluable.
"Having access to that extra capital was the difference between sinking and swimming... We wouldn't have got anywhere without it.
"The Deep Tech Incubator Programme was a key factor in Bridgewest, a global venture firm, choosing to set up operations in New Zealand. This influx of international networks and experience is helping to elevate the entire ecosystem.
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Supporting life science companies from proof-of-concept to commercialisation Brandon Capital is Australasia's leading life science venture capital firm. Our strong global presence is supported by team members in the US and UK as well as key partners such as Callaghan Innovation.
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Bridgewest Ventures is a globally connected partner, on the lookout for founders aiming to have a profound social, environmental, or economic impact on our world. As an approved partner under Callaghan Innovation's Technology Incubator Programme, we are taking applications for local ventures ready to commercialise on a global scale.
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Sprout Agritech is NZ's only Agtech & Foodtech specialty Investor and accelerator.
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WNT Ventures is deeply invested in breakthrough New Zealand Innovation. We engage with founders at the earliest stage of their idea and provide tailored support for success on a global stage.
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Pacific Channel is a specialist deep-tech venture capital firm investing in great people using breakthrough science and advanced engineering to create transformative impact.
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What is 'Deep Tech'?
Deep Tech refers to advanced technologies that are based on significant and defensible scientific or engineering advances rather than incremental refinement or delivery of standardised technologies. These technologies often require extensive research and development, high levels of expertise, and significant investment. They have the potential to transform industries and create new products and services that were not possible before.
Why support Deep Tech?
For many investors, early-stage deep tech ventures are often just too risky.
Deep technologies have a longer pathway to commercialisation, can require access to specialised and expensive equipment and inputs, and often face extensive regulatory hurdles.
The Deep Tech Incubator Programme was created to fund and support deep tech innovators to develop awe-inspiring, out-there ideas from concept to reality and, ideally, long-term success. The rewards, for founders, investors, and society, along with the broader Science and Innovation ecosystem can be huge.
All over the world, deep tech incubators play a crucial role in fostering innovation and supporting deep tech companies in developing cutting-edge technologies. Every innovation ecosystem in the OECD has a government intervention to bridge the investment gap that exists.
The next ten years and beyond
Building on a decade of fostering science, innovation and technology in New Zealand, the Programme is set to enter an ambitious new phase from 2024 to 2027 (the end of the current funding period).
The programme aims to continue accelerating the growth of New Zealand's deep tech ecosystem, driving economic value, and positioning the country as a global leader in transformative technologies.
Read the report to find out more.
