'Silicon Valley' business centre to rise in Red Zone
- 02 April, 2012 22:00
A business centre inspired by Silicon Valley is being set up in central Christchurch. Minister for Economic Development and Science and Innovation Steven Joyce launched the project, called the Enterprise Precinct and Innovation Campus (EPIC).
EPIC was the brainchild of local tech entrepreneurs Wil McLellan and Colin Andersen.
"The EPIC concept is based on the Silicone Valley model – where a building structure and use promotes innovation. Our building will be home to 17 hot start-ups and will stimulate the growth in the SME sector here in Christchurch," says McLellan.
BNZ supported the project and worked with a group of entrepreneurs to transform the concept into reality. The bank says it applied a commercial lens and appropriate financial analysis to help get the project off the ground.
The bank funded a significant portion of the upfront development costs through a commercial arrangement whereby the majority of the project costs will be progressively paid back through rentals and grants once the centre is up and running.
BNZ will join the following firms as tenants of EPIC:
Industrial Research (IRL)
Pilot Consulting Group