Funding business growth & ideas

In seeking assistance in business funding and funding business growth there are a number of New Zealand Government based initiatives available to SMEs.

The New Zealand government invests millions of dollars every year into businesses that provide additional exports, greater employment, and build wealth in New Zealand. If your New Zealand business helps in these areas and is committed to growth then the following could be of interest…

If you’re starting a business and looking for Capital, then there are some options for help too. Starting a business from a good idea takes a lot of energy, resourcefulness, and often hard to find financial help, there are however some funds to get you underway…

Ministry of Economic Development – Sources of business funding…

Funding and Programmes… (The New Zealand Government)
Technology New Zealand offers a comprehensive suite of schemes that aim to help businesses develop and adopt new technology. These Schemes cover: Provision of Technology, Research and Development and People Development.

1. SmartStart Assistance Scheme
Technology Information & Scoping
SmartStart is designed to assist firms to overcome early stage barriers to R&D projects.

For simple circumstances Local SmartStart Agents are authorised to approve grants to the value of $5,000, typically within 48 hours.

2. TechNet Expert Access
Technology Information & Scoping
For businesses that need advice on technical issues, Technology New Zealand has negotiated access for a limited period of consultancy with experts in Crown Research Institutes (CRIs), universities and research organisations. Maximum funding available is $2,000 (including GST) per project.

3. Technical Assessment Projects – feasibility (TAP)
Research and Development
It is important for small and medium-sized businesses to take a step-by-step approach towards new technology. Funding is available for short-term experimental investigations of the technical feasibility of a critical step, within a development plan. Matching finance of up to 50% of eligible cost is available. Student projects (undergraduate) and secondment projects will also be funded.

4. Grants for Private Sector R&D (GPSRD)
Research and Development
Funding is available for up to 33% of the costs associated with a business increased spend on R&D, from a minimum of $10,000 to a maximum of $100,000 (including GST) for small and medium sized businesses.

5. Technology for Business Growth (TBG)
Research and Development
TBG is targeted towards projects that move companies towards high added-value, high-margin, technology-based products (The term ‘product’ includes new processes and services.) Under TBG funding the company receives up to 50% of eligible project costs. The TBG funding should be a good investment opportunity when compared to the sales income and the technology advance. The company should be capable of funding its share of project cost and subsequent commercialisation costs. Typical projects range upwards from $20,000 (total Project Cost) up to large projects exceeding $800,000.

6. Technology for Industry Fellowships (TIF)
People Development
Undergraduate and Education Fellows are characterised by the immersing of the Fellow within the commercial environment for a majority of the time.

Technology Expert
The secondment of an expert into a company to assist companies undertaking comercially-focused research or technology development projects.

New Zealand Trade and Enterprise – advice

New Zealand Trade and Enterprise (NZTE) is the New Zealand government’s national economic development agency. Through our network of 48 offices worldwide, New Zealand Trade and Enterprise aims to grow New Zealand’s economy by boosting the capability of businesses and regions and facilitating their sustained and profitable participation in overseas markets.

Getting help to raise capital
New Zealand Trade and Enterprise’s Escalator service helps innovative small to medium sized enterprises get access investment.

Training to help you learn about raising capital
New Zealand Trade and Enterprise’s Investment Ready Training scheme.

Looking for business funding for a going concern.