Spark offers $625k for tech start-ups

Spark has allocated $625,000 of a would-be advertising budget to fund four small businesses looking to use 5G technology to stimulate New Zealand’s economic recovery.

The telecommunications company is looking for start-ups with creative ideas on how to bring 5G use cases to life through its 5G Starter Fund to benefit the country.

One possible area is drones. Autonomous vehicles and drone delivery could be a reality in New Zealand over the next few years as the fifth generation of wireless communications technology is rolled out. The technology for both is being tested in various forms locally — but needs high data loads to operate efficiently. The telco is looking for other innovative technologies that can revolutionise industries.

Matt Bain, marketing director at Spark, said technology and digital innovation would play a critical role in New Zealand’s economic recovery.

“We want to work alongside our most innovative thinkers to identify the future 5G use cases that will have the biggest impact for New Zealand as we start to rebuild after Covid-19,” Bain told the Herald.

Applications for the 5G Starter Fund are now open, for businesses with 0 to 100 staff, until August 16. Businesses are being asked to submit a video that summarises their ideas that fall under the categories of “nextgeneration health”, “good for New Zealand”, “industry disrupters” and “immersive experiences”.

The 1st place winner will receive $250,000 and three runners up will each receive $125,000.

All will receive business and tech mentoring from industry leaders, as well as access to technology and equipment to test and build on Spark’s 5G network.