Government agency Callahan Innovation has launched three new accelerator programs to help place Kiwi fintech on the map.

The three accelerators, which have been funded from $3 million set aside in the Innovative New Zealand package in the 2017, were recently announced by Science and Innovation Minister Steven Joyce.

Financial technology, digital technology and the energy sector will be a focus, with Kiwibank the body behind the first accelerator, which will be run through Creative HQ in Wellington.

“These accelerators are all about growing the next generation of high-tech Kiwi start-ups,” Joyce said.

“The New Zealand tech sector is growing rapidly and making a big contribution to our strengthening economy.”

Creative HQ will also run an energy sector accelerator, which is currently in the first stage of development. The final accelerator is IceHouse Digital Technology.

“Accelerators are proven around the world to create the conditions to get early-stage businesses to the point where they can grow, attract capital and generate revenue under their own steam,” Joyce said.

“They provide mentoring, inspiration and structural support for business development, while also stress-testing the founders’ business model to expose gaps that need addressing.”