Takitimu brings business to Bay

Chief executives and general managers representing more than $300 million of assets are heading to Hawke's Bay looking for opportunities to invest their cash.

They include iwi business leaders from Ngai Tahu (South Island), Ngati Kahu (Northland) and Tainui (Waikato region), as well as heads of state from each of the major Pacific nations and two First Nations investors from Canada.

They'll be in the Bay to attend the Takitimu Indigenous Peoples Business Conference at the Hawke's Bay Opera House in Hastings next month.

The conference is part of the five-day International Takitimu Festival, which aims to celebrate the arts, culture, history and also business prowess of all those Maori iwi and Pacific nations affiliated to the Takitimu waka.

The Bank of New Zealand, which has created a division dedicated to Maori business, is backing the conference as a major sponsor while Te Puni Kokiri, the Ministry of Maori Development, has also offered staff to help set up and run the event.

Te Puni Kokiri business account manager Henry Heke, who works at the department's Takitimu office in Hastings, said the conference provided a unique opportunity to match investors with those looking for capital or partners to grow their businesses.

"Maori are investing heavily in business ventures, take for example Ngai Tahu Tourism which has just invested in the Agrodome tourism operation in Rotorua. We're hoping the conference will provide an opportunity and a forum for similar joint ventures to be formed."

Those attending the conference looking for investors included people working in the renewable energy industry, as well as the viticulture, farming, forestry, tourism and technology sectors.

Mr Heke said Hawke's Bay businessman Rod Drury would speak about the Pacific fibre broadband project to attract investors while others looking for similar interest include a company heading a wind energy project and another Hawke's Bay viticulture brand. "Another exciting joint venture we hope will come to fruition is between a dairy farmer in northern Hawke's Bay who is looking to develop an automated, robotic dairy milking shed."

There was also a Waipawa company that had developed a device that reduces exhaust emissions from vehicles.

The firm is now looking to take the product to the marketing and sales phase.

"So they are potentially looking for an investor ... most of those coming to the conference who are looking for capital want a $500,000 investment or more into their businesses or ventures," Mr Heke said.

Besides those looking to receive capital, there are those looking to invest their money.

"One of the two First Nations groups from Canada is very interested in renewable power, so already we have a possible connection to make at the conference with one local company looking for an investor for its wind power venture," Mr Heke said.

The first two days of the conference will involve guest speakers and workshops while the third day will include a tour of Hawke's Bay.

"What you're going to see is between $200 million to $300 million worth of investment opportunities all in the same room. Obviously we hope at the end of the conference people will be sitting down to talk business.

"This is the first time a big indigenous business group like this has come together and no doubt there is going to be a need to have another one in the near future to see what results the inaugural conference generated."