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New Zealand

Food and Fiber Funding Program Launched – NZ Entrepreneur Magazine

Planning and securing capital for small and medium-sized (SME) food and textile businesses investment ready – A 12-week capital raising readiness program that offers one-on-one and group development sessions.

Investment Ready is designed to give food and fiber businesses the tools to prepare and successfully invest in the growth of their business. It is funded by the Ministry of Primary Industries (MPI) and provided by the Palmerston North Innovation Development Program. The Factory.

The program targets food and textile businesses with established revenue streams that have been unable to achieve significant growth due to external investment.

The Factory CEO Nick Gaine.

“Increasing investment is a necessary step for many growth-stage companies with high spending and development costs, which is not often seen in established businesses with traditional revenue streams,” says The Factory. CEO Nick Gein said.

“Many food and textile companies have great growth plans but have not raised enough capital to execute on those plans. This is where Investment Ready plays a key role. It is a very exciting opportunity for the Factory team and their extensive network to partner with MPI to deliver this program and enable growth in New Zealand’s food and textile sector.”

Investment Ready provides successful applicants with dedicated support, knowledge, mentorship, investor connections and key investment documentation.

Andrew Clark, Commercial Manager, Agriculture and Investment Services at MPI, said: Decade. MPI also works with the Opportunity Grows Here campaign, which aims to increase the number of people working in this field across the country.

“The Investment Ready Program and subsequent planned investments will contribute to these goals by increasing the number of food and textile sector entities with capital raising capacity. It helps us grow our business while helping us do it.”

Investment Ready launched 18 months ago, following a successful pilot program that collectively pitched over $60 million in investment capital after four food and fiber sector companies were ready to invest.

Investment Ready will provide one-to-one support, with Cohort 1 starting in February 2023 and Cohort 2 starting in June 2023, accepting two cohorts per year.

Investment Ready Pilot Alumnus Ramesh Naran of HospoConnect said:

“I really liked how they specifically tailored their advice based on our experience and stage of the company. They showed genuine interest and passion in helping us. We were able to quickly track our investment readiness and have a set of documents and a level of readiness that we would not have had if we had not been in the program.”

The Investment Lady is open to agribusinesses in the New Zealand food and textile sector who wish to raise capital and scale. The program runs twice a year, with the first program starting his February 2023. Factory is currently accepting applications from him through January 2023, with the first cohort starting his February 2023.

go to www.investmentready.nz Learn more or apply.

https://nzentrepreneur.co.nz/food-and-fibre-capital-raising-programme-launched/?utm_source=rss&utm_medium=rss&utm_campaign=food-and-fibre-capital-raising-programme-launched Food and Fiber Funding Program Launched – NZ Entrepreneur Magazine

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