Coles Nurture Fund
Up to $500,000 is available from the Coles Nurture Fund to help small Australian food and grocery producers, farmers and manufacturers to innovate and grow their business.
Need help preparing a Coles Nuture Fund application?
The Coles Nurture Fund supports small to medium Australian businesses that want to improve existing services or products and create new systems or processes. Through the Coles Nurture Fund, small-to-medium businesses may apply for funding to enable them to take the next step in creating value for business and customers.
Bulletpoint have assisted a number of food manufacturing companies secure manufacturing grants similar to the Coles Nurture Fund, such as the Melbourne’s North Innovation and Investment Fund.
Here are some recent examples:
Bulletpoint assisted Harry & Larry’s Ice-cream secure $1,200,000. Based in Brunswick, Harry & Larry’s manufacture a range of specialty ice creams.
The grant will see 30 new jobs created and investment in a factory expansion with custom engineered production lines, including the latest freezing technology, to make a range of gourmet ice creams and desserts in complex shapes and layers.
Bulletpoint assisted Cottage Cheese Farm secure $765,000. Based in Glenroy, Victoria, Cottage Cheese Farm is a speciality cheese manufacturer making mainly Haloumi, Ricotta and Mozzarella cheeses.
They received funding to assist with construction of a $6M purpose built cheese and yoghurt manufacturing facility. The project will allow them to expand current operations and introduction of new product lines.
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 frozen raspberries and chickpea tofu to quinoa processing and cloud technology, the Coles Nurture Fund (CNF) is supporting businesses to develop new market-leading products, technologies, systems and processes. Together we hope to drive differentiation, extend growing seasons, improve productivity and reduce imports.
Through the Nurture Fund, existing small to medium businesses may apply for funding to enable them to take the next step in creating value for business and customers.
The Coles Nurture Fund has $10,000,000 a year. Of this:
- $5,000,000 will be available each year for grants
- $5,000,000 will be for interest-free loans.
The maximum single allocation of funds under the Coles Nurture Fund is $500,000.
To be eligible for funding from the Coles Nurture Fund, applicants must have:
- Revenue – less than $25 million
- Employees – no more than 50 full time employees
- Registrations – ABN and GST
- Trading – minimum of 2 years
- Financial statements – minimum of the previous 2 financial years
- 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:
- Growth Strategy –Whether the project is an expansion of an existing activity or diversification of existing businesses
- Cool Tech – The extent of new innovation, including new technology
- Jobs – The employment impact on other businesses
- Investment – The generation of further investment
- Competitive Neutrality – Trade impacts on other businesses including competitors
- Market – The extent to which the project will service the Australian market
- Management – Details of the your track record to successfully implement the new project
- IP – Did you develop any of the technology identified for the project
- Shovel Ready – Have you accessed suppliers and sourced distributors for the project
- Cash –How you will fund the project not covered by the grant
- Sustainability – how will the project continue after the completion date
- Goals – What are the longer term outcomes from the project
- Funding – Would the investment proposal proceed without the CNF funding
A new round of funding is expected to open in early 2020.
Beef producers Caithness Pastoral will use a $160,000 grant from the Coles Nurture Fund to build facilities which can store 12 months’ worth of fodder on their farm.
The support from the Coles Nurture Fund will enable Trevor and Carryn Caithness to build a 1200 tonne capacity concrete silage bunker, as well as two steel-framed sheds with the capacity to store 800 tonnes of hay or cereal straw.
By enabling Trevor and Carryn to store enough fodder to feed their cows and calves in difficult seasonal conditions, the new storage facilities will help to drought-proof the family business.
Pear growers and packers, Masalki will use a $400,000 grant to regulate the humidity in their fruit cool rooms, reducing water use by up to 80 per cent in their packing shed. The family business will be one of the pear growers in Australia to introduce the new technology.
After conducting extensive research in Italy, brothers Con and Philip Damianopoulos identified the new technology as one of the