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Hatch - Creating commercial leaders of tomorrow

PRESS RELEASE

For immediate release

13 September 2018

Hatch by Pacific Business Trust - Creating the commercial leaders of tomorrow – Enrolments open now

Hatch is a safe space where young Pacific entrepreneurs transform their futures through enterprise.

Run by the Pacific Business Trust, it embodies the new direction the Trust has embarked upon for the last two years. The result is the creation of programmes which leverage key areas of strength within our Pacific communities, with Hatch addressing the need for a programme focusing solely on youth, many of whom have grown up in the diaspora of Aotearoa. The Trust recognises its importance, with the Pacific population projected to become more than 10% of the total population by 2028, most of its population consisting of young people under 25. Hatch captures this market early, empowering Pacific youth to not only own commercial and sustainable enterprises, but create a pipeline for Pacific leadership in the future.

Hatch is not an accelerator. Spanning a three-year period, it focuses on ensuring businesses get the basics right and the cohort is supported in a way that is bespoke and customised around their needs.

It also fuses traditional ways of learning with real-life experience. Participants have access to enhanced learning options. Business experts from around the country lead masterclasses around key areas, such as governance and intellectual property. Experts are selected due to their extensive experience and knowledge and their belief in the vision to create opportunities for our youth in a way that empowers and respects them.

After this initial period, work plans are established with each company, with the level of support self-determined by the youth themselves. The first cohort made an immediate impact, with each of the enterprises growing from strength to strength, covering a variety of sectors, from education to digital content and technology.

PBT Business Strategist and Hatch Virtual CEO Tim Swann describes the growth seen in both the individual participants and their business as exceptional.

“We’ve seen business move from ideation to commercial delivery, with some already developing international supply chains,” says Tim.

“We’ve seen business pivot at speed, becoming much more responsive to the changing needs of the market. Innovation and Technology have been key features of many of our businesses and we have seen them integrate these in new ways. The personal journeys have been profound.”

Kim Tuaine, CEO of Pacific Business Trust, says the goals of Hatch are to;
·         grow young Pacific businesses into sustainable, viable and commercially successful businesses by building capacity and capability
·         facilitate ecosystems that surround flourishing youth Pacific businesses with experts, networks and Hatch partners to ensure scalability
·         advocate by creating a platform to provide data for informed intervention, enabling continued succession capability.

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