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Māori Innovation Fund recipients announced

Hon Steven Joyce
Minister of Science and Innovation
Hon Te Ururoa Flavell
Minister for Māori Development

2 August 2016

Māori Innovation Fund recipients announced

Science and Innovation Minister Steven Joyce and Māori Development Minister Te Ururoa Flavell today announced that 31 Māori collectives will receive funding from Te Pūnaha Hiringa: Māori Innovation Fund Commercial Advisors Scheme.

Through the scheme, funding of more than $2 million is available to help Māori collectives realise the economic potential of their assets by contracting a commercial advisor to provide professional business advice and mentoring.

“The Māori Innovation Fund helps Māori organisations gain the skills, knowledge and networks they need to take full advantage of new and existing commercial opportunities,” Mr Joyce says.

“It has the potential to grow Māori assets and create jobs in the regions. The feedback from the first year of the fund last year has been good and we expect the demand to remain high.”

Each investment will be for a maximum of $75,000 over one year. Collectives are required to co-fund their commercial advisor to a minimum of 25 per cent.

“Te Pūnaha Hiringa: Māori Innovation Fund, provides a wide range of Māori organisations and coalitions with a unique opportunity,” Mr Flavell says.

“Each recipient has the potential to use this funding to support its own endeavours, identify opportunities, get new ventures off the ground or grow existing businesses.”

Funding this year was awarded to a range of organisations including Pukeroa Oruawhata Group which is planning a major lakeside development in Rotorua. The group intends to develop a health and wellness tourism precinct with the potential to bring a wide range of health and leisure visitors to the area.

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Te Kōpere o te iwi o Hineuru Trust has also been awarded funding for a commercial advisor to assist them in their plans to develop Woodstock Station. The farm itself is a site of cultural significance as it sits on part of a sacred maunga, Titiokura. This is a very special place for the Trust’s iwi as well as being an initial commercial venture into land-based business.

“This is the second year that this funding has been available and some changes have been made to the 2016 round. These changes aim to target the scheme towards high-potential Māori collectives that will benefit most,” Mr Joyce says.

“We are confident that this funding will make a significant difference and we look forward to watching it accelerate the development of commercial propositions for Māori organisations.”

More information including the full list of successful applicants is available here.


ends

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