Waikato Business News July/August 2019
Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.
Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.
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WAIKATO BUSINESS NEWS <strong>July</strong>/<strong>August</strong> <strong>2019</strong><br />
17<br />
Te Waka helping to boost<br />
business in <strong>Waikato</strong><br />
This month marks Te Waka’s one year<br />
anniversary. Looking back over this last<br />
year, it’s important for us to reflect on<br />
how far we have come, where we plan to<br />
go, and what our influence has been with<br />
regards to the <strong>Waikato</strong> region’s economic<br />
development.<br />
Though Te Waka has<br />
only been around for 12<br />
months, our <strong>Business</strong><br />
Growth Team has been operating<br />
for a number of years and<br />
has assisted many regional<br />
businesses with their goals of<br />
expansion. Such businesses<br />
include local start-up company<br />
Torutek, who work on a<br />
variety of projects including<br />
facial recognition systems that<br />
help identify problem gamblers.<br />
Like many businesses we<br />
work with, Torutek had excellent<br />
potential and growth aspirations<br />
– they just needed the<br />
right guidance to turn their<br />
business into a reality.<br />
Our business growth<br />
DRIVING DEVELOPMENT<br />
> BY MICHAEL BASSETT-FOSS<br />
Chief executive, Te Waka: <strong>Waikato</strong>’s economic development agency<br />
team manager, Craig Purcell,<br />
worked closely with Torutek<br />
in securing office space at<br />
<strong>Waikato</strong> Innovation Park, and<br />
start-up grants through Callaghan<br />
Innovation. Torutek is<br />
now thriving, have sustainable<br />
cash flow, positive profitability,<br />
and in its own words,<br />
“couldn’t have hoped for<br />
better.” (See Torutek’s story,<br />
page 51.)<br />
Our assistance and influence<br />
with businesses in the<br />
region continues to progress,<br />
and recently Te Waka,<br />
along with the <strong>Waikato</strong> District<br />
Council, has been working<br />
with Australia’s biggest<br />
bed-maker, Comfort Group,<br />
in developing a $1 billion<br />
manufacturing and housing<br />
community.<br />
Despite the challenge<br />
of getting new<br />
businesses underway,<br />
we have contributed<br />
to the region’s<br />
wider economic<br />
development and<br />
I sense this will<br />
become even more<br />
prevalent in the near<br />
future.<br />
Comfort Group, who owns<br />
Sleepyhead, SleepMaker and<br />
Dunlop Foams, has bought<br />
176ha of rural land where it<br />
is intended to build a mixeduse<br />
community with more<br />
than 1000 new homes, while<br />
enhancing its manufacturing<br />
space.<br />
We expect to see more projects<br />
like this on the horizon<br />
given <strong>Waikato</strong> is in a unique<br />
central location, and home to<br />
a high concentration of innovation<br />
and business potential.<br />
This being said, it has become<br />
more evident that new businesses<br />
need support to achieve<br />
their goals and strategic priorities.<br />
Our team here will continue<br />
to work closely with<br />
businesses in finding out what<br />
their challenges and aspirations<br />
are, and how we can<br />
best move forward in terms of<br />
planning and connecting them<br />
to the right people.<br />
A key component for a lot<br />
of businesses, particularly<br />
those getting off the ground,<br />
is funding. What many people<br />
may not know is that Te Waka<br />
can provide access to this.<br />
Our NZTE Capability<br />
Voucher funding assists businesses<br />
with partial funding<br />
towards capability development<br />
and training. We also<br />
provide access to Callaghan<br />
Innovation grants that provide<br />
R&D funding for new<br />
businesses. As we are a strong<br />
supporter of Māori business,<br />
we can also link people with<br />
Māori trusts throughout the<br />
region.<br />
In the last 12 months, Te<br />
Waka has supported $90m in<br />
applications to the Provincial<br />
Growth Fund (PGF) and<br />
approximately $26m in central<br />
government funding has been<br />
secured. Despite the challenge<br />
of getting new businesses<br />
Michelle Hollands has been appointed strategic<br />
partnerships and projects manager.<br />
underway, we have contributed<br />
to the region’s wider<br />
economic development and I<br />
sense this will become even<br />
more prevalent in the near<br />
future.<br />
Our move to increase capability<br />
in the team also continues<br />
to be a key focus going forward.<br />
Recently we appointed<br />
Michelle Hollands to the role<br />
of strategic partnerships and<br />
projects manager – a role that<br />
will involve working alongside<br />
businesses developing<br />
and implementing sector strategies.<br />
Michelle comes to us<br />
from Sport <strong>Waikato</strong>, where she<br />
managed and led the implementation<br />
of the Regional<br />
Sports Facilities Plan.<br />
Before that, she was a<br />
self-employed strategy consultant<br />
and worked with some of<br />
New Zealand’s leading companies<br />
to guide and facilitate<br />
the development of market-led<br />
research plans.<br />
Her expertise adds to our<br />
effort in increasing capacity in<br />
the team, and we look forward<br />
to welcoming her as we continue<br />
to expand and enhance<br />
our impact in <strong>Waikato</strong>.