Going global doesn’t come cheap. Investing in your international growth is a challenge we know that every business faces.
Alongside our investment services, which help you with everything from identifying the right funding and capital options, to developing an investment plan, fine-tuning your pitch for capital raising, or making connections with investors, we also offer Focus customers co-investment for specific growth projects, via our International Growth Fund (IGF).
Whether you’re looking to extend your international sales reach to build market and brand awareness, gain market perspective and insight, or develop and plan a successful growth initiative, the IGF helps you reap rewards faster than you would otherwise.
Am I eligible?
The IGF is available to NZTE Focus customers with less than $500 million international revenue, and to established Focus coalitions.
The IGF is specifically for international growth projects that are considered beyond business-as-usual, involving either new activities or adding value to existing activities.
If you’re curious to know more, the first step is to check with your customer manager whether your business is eligible and if the project you have in mind fits the criteria.
How it works
The IGF is always part of a tailored package of services and support from us that are designed to help you maximise international growth opportunities and address challenges. This means any co-investment is always an integrated part of the plan we develop with you, and needs to be aligned with your overall growth strategy.
There are three levels of co-investment available to eligible businesses and projects:
- Full IGF for an individual Focus customer: maximum of $600,000* over three years
- Full IGF for a Focus coalition: maximum of $900,000* over three years
- Market validation IGF for Focus customers: maximum $100,000* over 12 months
The co-investment ratio is 40:60 government:customer and excludes capital expenditure.
If your business and project is eligible, your customer manager will work with you to prepare a detailed business case about your project, and the potential benefits – not just for your business but for New Zealand (our expectation is that co-investment projects achieve a significant - at least four times - return on investment for the New Zealand economy; we call this direct economic impact).
The business case outlines what your project is, the team you have on board, a full budget, as well as the potential risks and how you’ll manage these. Depending on how much co-investment you are looking for, your business case will be reviewed either by an internal panel, or a sub-committee of our board.
If your project is approved, we’ll enter into a co-investment agreement with clear performance targets, project budget and defined activities and milestones.
Throughout the life of your project and co-investment period (most are three years), we’ll have regular check-ins and reporting on milestones to see how your project is going, and whether things are on track.
At the end of the project, together we’ll complete a full review and reflect on your business progress. During this review, we’ll ask you about the lessons you learnt, so that we can share these with other businesses in the future.
We take our role in managing the IGF seriously. We believe strongly in our responsibility to make sure we are using taxpayer money wisely, and just like other investors, be confident we’re investing in projects that are set up to succeed.
Your customer manager will guide you through the process from start to finish. They’ll also share insights and lessons learnt from other New Zealand businesses that have also embarked on international growth projects, so you can apply these to your project to help maximise success.
*all funding amounts are excluding GST
How much is it?
There is no charge to apply for the International Growth Fund.