Hatching out new brood

Nortec CEO Paul Bennett (front left) and project manager Glen Hart, with (at rear) Lismore Mayor Jenny Dowell and Nortec community programs business manager Martyn Mills at the site in Goonellabah where a new incubator will be established.

Marc Stapelberg

LISMORE’S fledging information technology sector is about to get a multi-million-dollar boost with the construction of a dedicated business incubator in Goonellabah, expected to be completed by the end of the year.

After six years of stop-start planning, the first sod has finally been turned on the new centre that will be the fourth incubator NORTEC has established across the Northern Rivers.

“The nature of the local business economy is dominated by small business and the knowledge-based incubator we are building here is an area that needs support in terms of start-up generation,” said Paul.

Bennett, chief executive of NORTEC, a community-based not-for-profit organisation. “It is designed to support those businesses that are home-based or just starting out.

“As long as they are assessed as potentially sustainable from a competitive and financial perspective based on a business plan, then they can access a workspace, mentoring, training and support to make sure they have the best possible chance to get their business up and running.”

Lismore City Mayor Jenny Dowell, who was on hand to inspect work, hailed the incubator as a potential boom for local businesses.

“We originally offered some land for the site, but that fell through, so this has been a long time coming,” she said.

“It really is a dream come true after six years of the council working with NORTEC to establish the Goonellabah incubator.”

Cr Dowell said the incubator should give many of the area’s small businesses a better chance of succeeding.

“It’s a good model. It’s worked elsewhere and it fits with what we are trying to do for our economy,” she said.

The council waived fees amounting to about $25,000 and the Federal Government kicked in more than $700,000 under its Building Entre-preneuralship in Small Business Program.

NORTEC picked up the difference to purchase the land and fit-out the building for a total cost of $1.1 million.

The Goonellabah incubator will have enough space to house 15 units/workspaces for businesses to use over three years, plus a “hot space” for businesses to use on a “as-needed” basis. There also will be rooms available for training, Mr Bennett said.

He said the incubator, focusing in knowledge industries such as IT, filled out the suit of incubators across the region.

The unit located in Byron Bay’s industrial estate focuses on the arts and crafts industry, while Mullumbimby’s is a hybrid between environment and knowledge-based industries, with Ballina focused on light industry.

WHAT’S ON OFFER

• Flexible commercial leases
• Access to low-interest micro loans
• On-site advice and support
• Business mentoring
• Cost-saving opportunities
• Creation of communities of interest