Scheme aims to boost Maori trusts' returns

Leading Kiwi business incubator The Icehouse is to partner with Waiariki Institute of Technology in a pilot scheme aimed at boosting Maori trusts' business returns.

The Maori Trustees Programme, which gets underway later this month, is the first step in a plan to re-establish a business incubator centre within Waiariki, deputy chief executive Keith Ikin said.

"For about 12 months we had been thinking about a business incubator ... Waiariki did have one about five or six years ago," he said.

Mr Ikin said Waiariki decided to partner with The Icehouse because of its excellent track record in helping businesses get results.

What also appealed was The Icehouse's dedicated Maori business division, with business development packages for start ups through to established businesses and trust governance.

"In our region, one of the challenges is that Maori businesses don't often engage with business incubators. We wanted something that could bridge that and make it happen," he said.

'There are billions of dollars worth of iwi assets in the wider Waiariki region and if The Icehouse, which has a proven track record in lifting value and returns on assets, can do so for these businesses, it will have a significant return to the trusts and region."

The programme involves a three month learning journey, with five participants from each Maori trust able to take part. Each begins with a two and a half day workshop, followed by business coaching and mentoring by The Icehouse.

It has funding support from Enterprise New Zealand and Te Puni Kokiri, although trusts have to register their interest by mid-July to be eligible for a subsidy, said Shay Wright, head of Maori development at The Icehouse.

Mr Wright said The Icehouse, founded by the University of Auckland Business School in 2001, had worked with 4000 entrepreneurs and business owners over the last 11 years.

He said trusts in the Rotorua region had shown strong interest in governance and business growth support, making it an ideal place to launch the pilot scheme, and The Icehouse was looking to partner with local businesses to create a business hub in Rotorua. "There has been huge interest in the programme because it is more than just governance training. It focuses on business growth as well, looking at the goals and strategies of trusts and what knowledge and tools they need to ensure their waka is on course."

General manager of Te Runanga o Ngati Manawa, Maramena Vercoe, said she was looking forward to taking part. "We have all but completed our Treaty settlement so we need to plan and prepare for our future as an iwi," she said.

She said Ngati Manawa, centred near Murupara, wanted to get a feel for the different business options available to them beyond plantation forests.

Meanwhile Waiariki is looking at other ways to support Rotorua business.

A programme with The Icehouse for medium to large business is on the cards, and it's also looking to set up an entrepreneurship programme in schools.

For more information see, www.theicehouse.co.nz.