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Forty one Maori collectives will get commercial advice on the economic potential of their assets through the $3.7 million Te Punaha Hiringa: Maori Innovation Fund.
Maori Development Minister Te Ururoa Flavell says there was keen interest in the first funding round, with collectives wanting to develop their land and fisheries assets, or undertake property and tourism initiatives.
The Commercial Advisors Scheme allows collectives to partner with a commercial advisor who will mentor and support the collective with identifying opportunities, developing business cases and obtaining professional advice.
A separate scheme under the fund will pay for development of governance and management capacity.
Among the successful applicants is Te Runanga o Ngai Takoto which will get $75,000 for advice on developing its forestry assets, including formalizing a wider Te Tai Tokerau forestry collective.
The Miere Coalition of landowners, honey producers and investors got $60,000 for a commercial advisor to help with strategic planning, financial modelling, refinement of their business model, and advice on structure.
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