After a bit of behind the scenes collaboration between Poutama and the Provincial Development Unit (PDU) of the Provincial Growth Fund (PGF), a step change has been reached. This change will see Poutama over the next 6 months investing up to $100,000 into Māori enterprises based in regional Aotearoa.
PGF has provided $5m to enable Poutama to invest a larger amount than normal into enterprises that can demonstrate one or more of the following; potential to scale, diversify, innovate, export and transform. Within this, enterprises should also demonstrate wider outcomes of the investment including infusing tikanga and mātauranga Māori into their everyday enterprise activities. Enterprises should also ideally show initiatives for creating direct employment, contribute to community resilience and have a focus on building an adaptable enterprise.
The Poutama-PGF investment is targeted at enterprises that will benefit from practical and beneficial interventions that will accelerate an enterprise’s development and growth. This is particularly so within the uncertainties that COVID-19 has wrought upon Aotearoa. And as many have said “A crisis is a terrible thing to waste”. From Poutama’s perspective crises can shake people out of their complacency, create opportunities to challenge conventional wisdom and give enterprises some room to take on vested interests and achieve transformational change, heoi anō koia te whakaaro.
One of the aims of the Poutama-PGF investment is to help enterprises think and behave differently about how they operate. With crises comes opportunity. Being different isn’t always better, but better is always different. Poutama-PGF are interested in enterprises that are looking ahead and taking notice of the signposts of change. Just doing what you’ve always done isn’t necessarily going to cut it. The well worn word ‘pivot’ is often used during these extraordinary times, we prefer the words ‘side-step’ aka the Māori side-step!!
The signs though are encouraging as Poutama-PGF begin to engage with enterprises that have a willingness to adapt to and embrace uncertainty. Some pretty cool initiatives are being scoped out that will help enterprises to scale, diversify, innovate, export and transform. Among all of this Māori to Māori trade is being encouraged and fostered.
While the Poutama-PGF investment is targeted at enterprises in the regions, Poutama-PGF will actively facilitate connecting regional with urban enterprises and vice-a-versa so that they trade among each other. For example we have a regional construction business that buys its core equipment from an urban supplier. We know that digital enablement is a priority for many enterprises and that matching urban providers of digital services with rural businesses to achieve better connectivity and engagement with their customers can be achieved. This is Māori to Māori trade in action.
Among crises, opportunity and challenge, Poutama will continue to play a core role in being a connector. Connecting is a key driver of the Poutama service mix.
You can find out about the Poutama-PGF investment process by clicking here.
