BUSINESS FUNDING AND SUPPORT
BUSINESS FUNDING AND SUPPORT
Government granting agencies fund projects. The first step to obtaining grant funding is to identify a project your organisation proposes to undertake. The project should not be “business as usual” and might address, for example, product, service or process innovation, technical feasibility studies, new business models, energy efficiency, environmental sustainability, capability building or the development of new international export markets.
Are you thinking about applying for a government business grant? We provide a guide that will help you prepare the business case for your grant applications. The guide includes a description on the typical due diligence and company disclosure requirements common to most New Zealand government business grants. To download your copy click on the link below.
Agricultural and Primary Sector Funding
There are a wide range of funding schemes available to agriculture, horticulture, viticulture, forestry and other primary industries. For more information about these different funding schemes click on the link below.
Climate Change Funding
Support for actions to respond to climate change is available. This ranges from from green investment finance, clean technology, emissions calculators, decarbonisng industry, through to CRI climate change research.
COVID-19 Crisis - Support for Business
News about COVID-19 and how it may affect your business via the link below. Includes guidance and advice about employment, tax, cash flow, health and safety and more.
Endeavour Fund
This fund is operated by Ministry of Business, Innovation and Employment. The funding is available through two mechanisms, "Smart Ideas" and "Research Programmes". The Smart Ideas “investment mechanism is intended to catalyse and rapidly test promising, innovative research ideas with high potential for benefit to New Zealand, to enable refresh and diversity in the science portfolio. Applicants can request between $0.4 million to $1 million over the term of the two–three year contract”.
The Research Programmes “investment mechanism is intended to support ambitious, excellent, and well-defined research ideas which, collectively, have credible and high potential to positively transform New Zealand’s future in areas of future value, growth or critical need. Applicants can request over $0.5 million per annum for a term of three–five years”.
The Research Programmes “investment mechanism is intended to support ambitious, excellent, and well-defined research ideas which, collectively, have credible and high potential to positively transform New Zealand’s future in areas of future value, growth or critical need. Applicants can request over $0.5 million per annum for a term of three–five years”.
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Energy Efficiency Funding and Grants
Energy audits evaluate how efficiently energy is being used, and identify energy and cost-saving opportunities. Your business may be eligible for a grant for an energy audit. The Energy Efficiency and Conservation Authority (EECA) have grants available to businesses to improve energy efficiency and energy conservation. The description of these grants is summarised from the EECA website.
Environmental Funding from Government Organisations
The Ministry for the Environment provides links to environmental funding across a range of organisations for sectors including:
- Biodiversity
- Climate Change
- Energy
- Freshwater
- Land
- Marine
- Sustainability
- Urban
- Waste
Export Credit
New Zealand Export Credit provides financial guarantee and trade credit insurance products for New Zealand exporters, banks and insurers. Our products help exporters, and their banks, manage risk and capitalise on trade opportunities around the globe by enabling them to mitigate credit risk, secure export sales and access trade finance. As well as working directly with exporters, we work closely with commercial financiers in New Zealand and offshore to support and improve the competitiveness of New Zealand exporters. NZECO is currently located in the Treasury and obligations to third parties are guaranteed by the New Zealand government. The Export Credit Office has underwritten over $1 billion in trade in recent years.
In partnership with four of the primary trade credit insurers operating in New Zealand, the Treasury’s New Zealand Export Credit (NZEC) has streamlined its assessment process for its “top-up cover” coinsurance. Trade credit insurance protects a business from losses arising from unpaid invoices, including as a result of a buyer’s bankruptcy. NZEC's “top-up cover” arrangements provides additional cover to ensure that New Zealand exporters and their integral domestic suppliers can trade with confidence. Under each arrangement, an eligible business is able to obtain an additional layer of trade credit insurance directly from NZEC. This may either replace primary cover that an insurer has partially withdrawn on a buyer, or provide a top-up layer of cover where an insurer has only partially approved the buyer limit that has been requested.
Export Market Development
New Zealand Trade and Enterprise (NZTE) provides information and advice to New Zealand exporters. The International Growth Fund provides invited companies assistance with international market development. To learn more about NZTE's support programmes visit their website. For help with export feasibility studies, export budgets, export plans and export market research, visit our export marketing webpage.
Fresh Water Improvement Fund
The Ministry for the Environment operates the Fresh Water Improvement Fund. They advise "The Government has committed $100 million over 10 years through the Freshwater Improvement Fund to support initiatives which improve the management of fresh water within quality and quantity limits. This means improving the way we share and use water as well as taking care with what we allow to flow into our water bodies. The fund focuses on projects that will make a significant and measurable improvement to rivers, lakes, streams, groundwater and wetlands, with priority on the most vulnerable catchments. The fund is able to support projects at different scales and over varying timeframes. This could include one-off short-term projects up to one year as well as longer-term projects taking up to five years". Applications for the 2020/2021 funding round closed in September 2020.
Funding Explorer Tool
In January 2020 the government launched a “Funding Explorer Tool”. This app helps companies look at options and alternative ways to fund their business. They advise you can “discover and understand finance options tailored to your business using our new Funding Explorer tool: Your business might have more funding options available than you realise. Describe your situation and we’ll help you explore the best options for you.”
Green Investment Finance
New Zealand Green Investment Finance is an investment bank "established with the purpose of accelerating investment to enable New Zealand’s low carbon future. "Working with private capital markets and co-investors, NZGIF ’s purpose is to accelerate the flow of capital to investment that can enable New Zealand's decarbonisation. NZGIF has two main approaches to accelerating investment in the market: direct investment, and the creation of products and programmes to attract additional flows of capital. We are looking for scalable companies, technologies and products that are commercial-ready and offer low carbon benefits for New Zealand".
Target Sectors for Investment. "We are currently considering opportunities that benefit New Zealand's decarbonisation in the following sectors. This includes opportunities that result in direct emissions reductions (eg. replacing fossil-fueled cars with electric vehicles), and opportunities that enable or support decarbonisation (e.g. electric vehicle charging infrastructure). We will consider opportunities outside our target sectors where there are potential carbon savings or significant other co-benefits attached to the proposed investment"
- Agriculture
- Distributed Energy Resources.
- Energy Efficiency
- Process Heat
- Transport
Intellectual Property
The Intellectual Property Office provides information on patents, trademarks and designs. At iponz you can search the registers, pay renewal fees, file trade mark applications, and find forms and guides on intellectual property in New Zealand.
Management Capability Vouchers
The Regional Business Partner Network (RBP) can provide small businesses the support and training they need to build management capabilities and grow their business. A network of 14 Regional Business Partners work to support business growth and innovation in their regions. The partners work with local businesses and provide a range of advice and access to funding and support for assisting them to grow their business. Small businesses may qualify for vouchers to help pay for services such as training workshops, courses and coaching that build the management capabilities of their owners, operators and key managers. Management Capability Development Voucher Fund is only available through Regional Business Partners around New Zealand.
What can the vouchers be used for? Vouchers may be used to help pay up to 50 percent of the cost of services (up to a maximum value of $5000 excluding GST) from registered providers that improve management capabilities. The Employers’ and Manufacturers Association Northern Inc. is registered to accept NZTE capability Development vouchers. There are a number of areas within your business that you can get assistance with, for more details, you will need to speak to a Regional Partner near you but here are the general categories:
- Business Planning
- Marketing Strategies
- Finance
- Business Systems
- Managing Resources
- Governance
- Sustainability
- Lean Manufacturing/Business Operations
- Exporting
Marsden Fund
The Marsden Fund was “established by the government in 1994 to fund excellent fundamental research. It is a contestable fund administered by the Royal Society of New Zealand on behalf of the Marsden Fund Council. The research is not subject to government’s socio-economic priorities, but is investigator initiated. The Fund supports research excellence in science, engineering and maths, social sciences and the humanities. Competition for grants is intense. Marsden is regarded as the hallmark of excellence for research in New Zealand”.
Medical Funding and Health Funding
For information about the Health Research Council, the Auckland Medical Research Foundation, the Lottery Health Research Committee, the Neurological Foundation of New Zealand and other medical funding agencies visit our medical research funding page.
Research and Development Grants
Callaghan Innovation administer the government's Business R&D Grants. Key funding for business includes the Research and Development Growth Grant and the Research and Development Project Grant. Funding for PhD and Masters students working within a business on an R&D project is also available. Funding may also be available to develop IP strategy or assess technical feasibility of a new product concept. Regional business partners appointed by Callaghan Innovation and New Zealand Trade and Enterprise to deliver R&D Funding other business support programmes are:
- Northland Chamber of Commerce
- Northland Inc
- Auckland Tourism, Events and Economic Development Limited.
- Waikato Innovation Park
- Tauranga Chamber of Commerce
- Gisborne Chamber of Commerce
- Hawkes Bay Regional Council
- The Bio Commerce Centre (Wanganui and Manawatu)
- Grow Wellington
- Development West Coast
- Nelson Regional Economic Development Agency
- Canterbury Employers Chamber of Commerce
- Dunedin City Council
- Venture Southland
Research and Development Tax Incentive
The Research and Development Tax Credit Act 2019 has been passed into law. This represents a significant change to the way in which innovation projects are encouraged and funded by the Government.
Start-up Capital
Incubators have programmes to help start-ups prepare to pitch to potential investors. For example the Accelerator Programme at the ICEHOUSE helps companies prepare and pitch for angel investment. To learn more about venture funding visit New Zealand Private Capital. For help preparing business plans for pitching to investors or raising start-up capital, visit our business plan webpage.
Student R&D Grants
Funding is available for undergraduate, postgraduate, Masters and PhD students.Student funding from Callaghan Innovation is usually for research and development projects undertaken within the private sector. Some student grants require an agreement to be made between the student, the firm and the institution at which the student is studying.
Sustainable Environment
The Ministry for the Environment's Sustainable Industry group works with business and industry to promote sustainable business practices and to support innovation in environmental management. The group works with targeted sectors to initiate improvements in environmental performance.
Training, NZ Trade and Enterprise
New Zealand Trade & Enterprise's (NZTE) Capability Development Vouchers are available through your local Regional Business Partner (a list of these partners is given above). The vouchers can be used to help you access services that build your management capabilities, which in turn may accelerate the growth of your business. To be eligible for the vouchers your business needs to (1) have fewer than 50 employees, (2) be registered for GST in New Zealand, (3) operate in a commercial environment, (4) be privately owned or a Maori Trust and (5) demonstrate a desire to innovate and grow. Vouchers can not be allocated until you have been assessed by your local Regional Business Partner.
Venture Investment Fund (NZVIF) - NZ Growth Capital Partners
New Zealand Growth Capital Partners (NZGCP) was "established by the New Zealand Government in 2002 to build a vibrant early-stage technology investment market in New Zealand. Alongside operating our Aspire and Elevate funds, we are also involved in a range of market development initiatives that include sponsorship and support of programmes, events and other initiatives alongside ecosystem partners like New Zealand Private Capital and the Angel Association of New Zealand.
Aspire NZ Seed Fund. For the young and daring, those just getting started and with stacks of ambition. We help the risk-takers and big-thinkers - with ideas that are a little rough around the edges - to grow. Our Aspire fund invests directly into early-stage NZ tech start-ups alongside other like-minded investors.
Elevate NZ Venture Fund. For the passionate and established who have found their feet and are ready to run. We invest in venture capital firms who help accelerate Kiwi companies into their next stage of development. Elevate is a fund of funds, investing into venture capital firms; aimed at filling the Series A and B capital gap for high-growth NZ tech companies".
Aspire NZ Seed Fund. For the young and daring, those just getting started and with stacks of ambition. We help the risk-takers and big-thinkers - with ideas that are a little rough around the edges - to grow. Our Aspire fund invests directly into early-stage NZ tech start-ups alongside other like-minded investors.
Elevate NZ Venture Fund. For the passionate and established who have found their feet and are ready to run. We invest in venture capital firms who help accelerate Kiwi companies into their next stage of development. Elevate is a fund of funds, investing into venture capital firms; aimed at filling the Series A and B capital gap for high-growth NZ tech companies".
Waste Minimisation Fund
The Waste Minimisation Fund (WMF) helps fund waste minimisation projects. The purpose of the fund is to increase resource efficiency, increase reuse, recovery and recycling, and decrease waste to landfill. The Minister for the Environment has set criteria for the Waste Minimisation Fund. Only projects which promote or achieve waste minimisation, including the reduction of waste and the reuse, recycling and recovery of waste and diverted material will be eligible.