Growth Services Fund

The Growth Services Fund offers support for high growth potential firms to purchase external advice, expertise, and market development services. 

• Accessing the scheme
• Eligible activities
• Ineligible activities
• International business exchanges

Accessing the Scheme

The Growth Services Fund is accessible only for companies who:

• have been identified as having clear and significant growth potential
• and for whom a client engagement plan has been compiled by Client Services staff.

The fund is intended to assist with new initiatives and new directions aimed at having a significant impact on the business leading to substantial, sustained growth. Co-funding of up to 50% will be offered by NZTE. 

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Eligible Activities

The focus of the fund is to increase the capability of the company, to reach its growth potential.

The types of activities we would expect to fund under the scheme include:

• Preparation of documentation to obtain finance for business development
• Feasibility studies
• Development of prototype design and testing
• Development of business, strategic or marketing plans, including market research
• Advice and assistance for human resource development (not pure recruitment costs)
• Assessment and implementation of total quality management, quality assurance, and business excellence programmes (e.g. ISO certification)
• Development of intellectual property protection and commercialisation
• Financial planning and development of improved financial systems as part of a development project
• Advice on legal, tax or other issues relating to a new business structure underpinning a new business initiative
• Assistance to fund external, professional mentors or project managers to assist with the implementation of a growth initiative for up to 12 months
• International business exchanges (see note below). 
   

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Ineligible Activities

• "Business as usual".
• Items of capital expenditure
• Activities provided by other government programmes. For example, Technology NZ currently funds R&D and technology development. To manage this potential overlap, NZTE will only fund the development of prototype design and testing where this falls outside the scope of projects typically funded by the Technology for Business Growth and Grants for Private Sector Research and Development schemes.
• Purchase of services from NZTE (e.g. market research), as these services already contain a government subsidy. 

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International Business Exchanges

International business exchanges can be included under the Growth Services Fund. These were previously covered under the World Class New Zealand programme.  They are intended to facilitate the transfer of international business skills that are not readily available in New Zealand. An exchange would include either or both of:

• The visit, placement or internship of a staff member of a New Zealand high growth business to, or with, a suitable offshore business, organisation, or event for up to six months. 
• The visit or placement of an offshore expert or specialist, or staff member of an offshore business or organisation, to, or with, a New Zealand high growth business or event for up to six months.

Exchanges, as with other activities funded through the Growth Services Fund, will occur only where an exchange has been identified as an appropriate business development project within the client's development plan.  The plan would specify targeted improvements to be achieved from the exchange.

The following funding guidelines will apply for international exchanges:

• A daily allowance and airfare allowance will be approved based on standard NZTE flat rates, specified by region.  The airfare cost component will be paid on receipt of boarding passes by NZTE, with other non-standard costs reimbursed to clients on submission of receipts for approved expenses.
• The New Zealand and/or offshore sponsor will be expected to fund salary costs and 50% of other costs. 
• Funding will be on the basis of one person per business.
  

For more information please contact your NZTE client manager, or the Enterprise Hotline.