The grant is going to Te Moana a Toi Truffles Collective, made up of seven Māori landowners in the Eastern Bay of Plenty.
“Investing into these kinds of enterprises will be a promising pathway to creating sustainable regional growth in Aotearoa,” Allan said.
Oaks, hazels, and pine that typically make up truffle trees might be outside the Government’s natives focus, but at $2-3 per gram, truffles present a highly profitable, sustainable crop for a small footprint.
“The Bay of Plenty has a credible history of producing high-value horticulture,” Allan said.
“These investments will see the region continue to grow in capability and build strong relationships with technical partners to thrive in this sector.”
Of the more traditional investments, Paengaroa North A1 Section 2 has been approved a loan of up to $1.16 million and Waihau Bay Horticulture has secured a loan of up to $2.12 million to develop kiwifruit orchards.
Ngāi Tamarāwaho has been granted up to $726,000 to develop a purpose-built contracting yard that will provide nursery services to support ecological restoration, planting and eco-sourcing seedlings on Māori freehold land.