4 November 2009
Primary Growth Partnership moves into business planning stage
The Investment Advisory Panel (IAP) of the Government’s Primary Growth Partnership has approved two proposals to advance to the next stage of the funding allocation process.
Business plans are to be developed by the applicants for each of the two approved proposals, collectively seeking more than four million dollars in Primary Growth Partnership funding.
Investment Advisory Panel Chairman Bill Falconer says only those proposals that met all the eligibility rules and assessment criteria were invited to progress to the next stage.
"The standards that these proposals must meet, have been set very high," he says.
"The Primary Growth Partnership is about ensuring the best possible outcome for New Zealand through significant programmes of industry-led research and innovation. As such, we have only approved those proposals that show real potential."
Of the nine proposals received in Round One, two were approved to the business plan stage, one from the forestry sector and one from the arable sector. Three more have been asked to resubmit with more detail and the remaining four were declined or withdrawn.
A Programme Steering Group will now be formed for each of the approved proposals, made up of representatives from each of the co-investors and the Crown. The IAP will monitor the development of business plans.
Once Business Plans have been developed, the IAP will make a final recommendation to the Director General of the Ministry of Agriculture and Forestry regarding whether the funding request be approved or declined.
Media contact:
- Deborah Gray, MAF Communications
Phone: 04 894 0715, Mobile: 029 894 0715, Email: deborah.gray@maf.govt.nz
