DEADLINE: Coles Nurture Fund Application

What is the Coles Nurture Fund?

The Coles Nurture Fund is a grant opportunity to help small Australian food and grocery producers, farmers and manufacturers to innovate and grow their business.

In April 2015, Coles launched the Nurture Fund to help small to medium Australian producers, farmers and manufacturers to innovate and grow their business.

From Australia’s first quinoa processing facility, to fence posts made from recycled plastic, and a state-of-the-art factory to grow grass indoors, the Coles Nurture Fund (CNF) supports businesses to develop new market-leading products, technologies, systems and processes.

Through the Coles Nurture Fund, existing small to medium businesses may apply for funding to enable them to help them develop new market-leading products, technologies and processes.

Funding

The maximum single amount provided under the Coles Nurture Fund is $500,000

Eligibility

To be eligible for funding from the Coles Nurture Fund, applicants must have:

1. Revenue – less than $25 million
2. Employees – no more than 50 full time employees
3. Registrations – ABN and GST
4. Trading – minimum of 2 years
5. Financial statements – minimum of the previous 2 financial years
6. Funding – a funding declaration from an external accountant

How to get the Coles Nurture Fund?

Bulletpoint’s review of the Coles Nurture Fund application form suggests that you will need to be able to demonstrate:

1. Growth Strategy –Whether the project is an expansion of an existing activity or diversification of existing businesses
2. Cool Tech – The extent of new innovation, including new technology
3. Competitive Neutrality – Trade impacts on other businesses including competitors
4. Market – The extent to which the project will service the Australian market
5. Management – Details of the your track record to successfully implement the new project
6. IP – Did you develop any of the technology identified for the project
7. Shovel Ready – Have you accessed suppliers and sourced distributors for the project
8. Cash –How you will fund the project not covered by the grant
9. Sustainability – how will the project continue after the completion date
10. Goals – What are the longer term outcomes from the project
11. Funding – Would the investment proposal proceed without the CNF funding

Timing

Round 12 opens January 29, 2024 and will close February 23, 2024.