VentureLab is the CIE’s incubator programme, open by invitation only to winners of the Velocity 100K challenge competition.
Who is it designed for?
The VentureLab Programme is open to the five winners of the Velocity 100K challenge each year.
Through VentureLab the Centre for Innovation and Entrepreneurship (CIE) commits to giving each team the support they need to succeed with their venture.
Our VentureLab Manager works with each team to individually support their growth and tailor support to meet the needs of each team.
Mentoring and resources
Each Venture Lab team is provided with:
- Weekly meetings and support from an experienced mentor and VentureLab Manager
- Desk space and lockers
- $10,000 stipend per team to enable them to focus their time on the venture
- Access to Unleash Space and all Centre for Innovation and Entrepreneurship events, networks etc
- Access to university equipment, libraries for market research etc
- Six months support with monthly milestones, then review for next stage
- Board of Advisors handpicked for each team
- Specific capability building workshops conducted as required based on the needs of the teams
- Access to UniServices advisors
- PwC Office Hours priority appointments
- Access to funds such as the $20 million evergreen University of Auckland Inventors’ Fund and IP Group Fund
Timing and commitment
Each VentureLab team commits to working at least 60 hours per week on their venture. This is equivalent to 1.5FTE.
In addition, teams must attend a weekly meeting with the VentureLab manager, and a monthly presentation and workshop over the six month period.
Entry into VentureLab is by invitation only.