InHouse Marketing was an approved Commercial Advisor for the Te Pūnaha Hiringa: Māori Innovation Fund for 2017–18. This $3 million annual fund invested in initiatives that contribute to achieving the goals and priorities in He kai kei aku ringa (the Crown-Māori Economic Growth Partnership) and the Business Growth Agenda.
The scheme funds Māori collectives up to $60,000 to work with a Commercial Advisor for up to 18 months. Grants through the scheme will cover 75% of the total cost of the commercial innovation advice delivered, with collectives contributing the remaining 25%. It is open to collectives at a range of stages of commercial development, from initial options analyses and feasibility studies, through to business case development, strategic planning, or market analysis and expansion.
Our role as Advisors was to offer professional business advice and mentoring as we work with collectives on business development projects aimed at realising the potential commercial value of the collective’s assets.
One key project Marise worked on as a Commercial Advisor was with Te Kaahui o Rauru, a South Taranaki iwi. Marise started working on this project in October 2015 on a new innovative healthy beverage that has now reached market launch – Kaitahi Superfood Smoothy Drops. As the Commercial Advisor, Marise guided the team through the product development process, to ensure a profitable and uniquely positioned product would be launched.
Kaitahi went on to become the overall winner of the Fine Food New Zealand Innovation Awards in 2018.
For more information on developing your own new product with excellence, do get in touch.