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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>.

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