Funding for Early-Stage Start-Ups. MBIE Accelerator Programme – Applications Closing Soon!
Article written by: Shelley Rowland | Saturday 1st February 2014
The Ministry of Business Innovation and Employment (MBIE) Accelerator Programme is designed to support the formation and development of early-stage start-ups operating in the digital technologies sector. MBIE is currently accepting submissions. Successful applicants could be eligible for up to $250,000 per annum in 1:2 co-matched funding via the Repayable Grants for Start-Ups Fund.
The programme seeks to fund research, science or technology or related activities that:
- Support emerging top researchers/technologists and budding entrepreneurs through capability development; and
- Develop a new generation of innovative technologies/companies that will drive growth in New Zealand’s digital technologies industry.
The submission deadline is fast approaching – interested applicants must submit their proposals no later than 12 noon, Wednesday 5th February 2014.
The Accelerator Programme is open to any New Zealand-based private enterprises active in the digital technologies industry.
A total of $750,000 (excl. GST) funding is available per annum and individual applicants can apply for up to $250,000 (excl. GST) per annum - provided that the private sector co-funding requirements are met - for up to two years per proposal.
For example, if a company has secured $500,000 in private investment they would be eligible for a further $250,000 through the Accelerator Programme.
How to apply
Proposals need to be submitted through an online portal accessible through MBIE’s Request for Proposals (see link below). Registration is required prior to portal access.
Proposals should provide an overview of the project and include:
- The project’s objectives and how the proposal supports the delivery of those objectives.
- An explanation of how the government support will add benefit beyond what the private sector would provide.
- Proof of the applicant’s track record of support for entrepreneurial development.
- A proven commitment from the investment community through private sector funding.
- An explanation of how the project will benefit the wider innovation community.
- Targeted outputs for the project.
- Timeline for delivery of the project.
- Budget for delivery of the project, including the level of Government support requested and how the private sector co-funding will be used.
Assessment criteria include consideration of the project’s investment returns and expected capability building, as well as any wider benefits to the innovation community.
Want to find out more?
Further information about the MBIE Accelerator Programme, including detailed information on the application process can be found within MBIE’s Request for Proposals at the following link:
This article was written with assistance from Emma Senior and Harriet Sandstad.