NZTE Funding

I doff my hat once more to NZTE.

A contract arrived in Tauranga whilst I was in the UK confirming that Pingar had been awarded an Enterprise Development Grant: The Market Development component (EDG-MD) to be specific.

Enterprise Development Grants for Market Development co-funding can be used to help NZ businesses enter a new export market or undertake new activity in an existing export market. Given my blogs over the past few weeks, I guess our target market is obvious. Up to $500,000 ($100,000 per annum) is available, with NZTE contributing up to half the costs of the project while the business contribute the rest.

Given NZ's distance from the global market, this is a great incentive. Global engagement does not come cheap.

Enterprise Development Grants however are only one of a number of services that NZTE provides NZ businesses wishing to expand offshore. Pingar acknowledges that without this support, the accelerated market entry we have enjoyed in the UK market would have slowed down. For a technology company such as Pingar that could have been fatal.

As Pingar grows its UK presence, we will continue to work with NZTE to develop that market. And we can discuss that further Lionel, when we meet tomorrow!