Small-grant funding to support Taranaki enterprises with their next steps and act as a catalyst to amplify growth.
ScaleUp is a contestable fund that will issue grants of up to $5,000 to support activity aimed at accelerating progress, removing barriers to growth or solving an issue.
Who is the ScaleUp Grant for?
ScaleUp Grants are aimed at for-profit small and medium businesses in Taranaki that have ambitious growth aspirations.
ScaleUp funding can be used towards a range of activities that will help to accelerate business growth in a stronger, better, or faster way.
ScaleUp is designed to celebrate innovative enterprises that have their sights set on growth and can clearly demonstrate how their activity will take their business to the next level.
Is this right for me?
To be eligible my business needs to be:
- For-Profit and operating in a commercial environment (including purpose-driven businesses).
- Based in Taranaki.
- GST registered.
- Small-Medium Enterprise - 1 to 25 employees
- Solvent (may be asked to supply a letter from accountant or a solvency certificate from a company director)
- Have a NZBN (NZ Business Number).
- Have a demonstrable opportunity for growth
Eligible Activities
Grants are to be used to support activity that will resolve an issue, remove a barrier and/or accelerate progress towards the growth of an enterprise. These could be ‘readiness’ activities, aimed at exploring, testing or developing your scale-up ideas to prepare your enterprise for growth; or ‘activation’ activities, which involve the actual implementation of your growth strategies.
The types of activities that could be funded include, but are not limited to:
- New product development
- Digital enablement
- Feasibility studies
- Development and implementation of a scale-up strategy.
- Development of a proposal for investment of scaled-up activities.
- Other (you will need to be able to provide a clear rationale on how the activity will help your enterprise grow).
What activities are not eligible?
- Fixed or variable Business as Usual costs including Repairs and Maintenance.
- Activities that cannot be completed by 31st May 2025.
- Illegal or inappropriate activities.
- Activities that are similar to the current services or products you offer within the same market.
Funding Priorities
Where appropriate, weighting may be given to:
- Applicants who can demonstrate how their activity will impact revenue, jobs, sustainability, and/or investment.
- Applicants who are operating in food and fibre, energy, or tourism sectors. These priorities align with Venture Taranaki strategic focus areas.
- Applicants whose chosen activity include technology or innovative practice.
Is this right for me?
- For-Profit and operating in a commercial environment (including purpose-driven businesses).
- Based in Taranaki.
- GST registered.
- Small-Medium Enterprise - 1 to 25 employees
- Solvent (may be asked to supply a letter from accountant or a solvency certificate from a company director)
- Have a NZBN (NZ Business Number).
- Have a demonstrable opportunity for growth
Grants are to be used to support activity that will resolve an issue, remove a barrier and/or accelerate progress towards the growth of an enterprise. These could be ‘readiness’ activities, aimed at exploring, testing or developing your scale-up ideas to prepare your enterprise for growth; or ‘activation’ activities, which involve the actual implementation of your growth strategies.
The types of activities that could be funded include, but are not limited to:
- New product development
- Digital enablement
- Feasibility studies
- Development and implementation of a scale-up strategy.
- Development of a proposal for investment of scaled-up activities.
- Other (you will need to be able to provide a clear rationale on how the activity will help your enterprise grow).
- Fixed or variable Business as Usual costs including Repairs and Maintenance.
- Activities that cannot be completed by 31st May 2025.
- Illegal or inappropriate activities.
- Activities that are similar to the current services or products you offer within the same market.
Where appropriate, weighting may be given to:
- Applicants who can demonstrate how their activity will impact revenue, jobs, sustainability, and/or investment.
- Applicants who are operating in food and fibre, energy, or tourism sectors. These priorities align with Venture Taranaki strategic focus areas.
- Applicants whose chosen activity include technology or innovative practice.
How the funding works
Applicants can apply for up to $5,000 GST exclusive. Applicants can submit one application only per funding round.
Funding cannot be used for any other Venture Taranaki programmes.
Grant applications will be assessed and reviewed by a panel committee.
Successful applicants are required to have a midway check-in with a Venture Taranaki Enterprise Advisor in March 2025 to assess progress. A final evaluation report must be submitted by 30 June 2025.
Key dates and deadlines:
-
1 October: ScaleUp Grants Applications
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21 October 2024: ScaleUp Grant Applications close
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23 - 31 October 2024: All applicants must be available to discuss their application, either in person or virtually, if requested.
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1 November: All applicants will be notified via email of the outcome and successful applicants will be advised of next steps.