Feasibility case funding for two significant regional economic initiatives was approved in the latest funding round from Trust Tairāwhiti.
Gisborne company Wisewool will receive $30,000 to undertake a feasibility forecast and investment study for a new manufacturing facility in Tairāwhiti.
Wisewool applies agritech innovation to add value to strong wool, making an ingredient that can replace products such as polyester, foam and imported feathers. The product is compression resilient, breathable and sustainable.
The Trust feasibility grant will also fund the development of a business case for the capital expenditure requirements of the project.
Wisewool was recognised in the recent Hawke’s Bay Export Awards, taking out the Judge’s Choice award. The judges were impressed with their vision to transform a traditional raw material and industry into a future-focused product with global appeal.
The Matai Medical Research Institute will also receive $30,000 towards the feasibility work for the second phase of their campus development on Childers Road.
This work will focus on viability to inform the future site development and sequencing. It will also support the decision-making of prospective investors and funders.
With a state-of-the-art imaging facility, medical research spaces, classrooms and onsite accommodation, the campus will be a foundation for technology and education in Tairāwhiti, providing high-quality job opportunities and improved health outcomes.
Trustees also approved two community distributions in July:
- Auckland District Kidney Society Incorporated - $10,000 towards providing education and support services to approximately 80 Tairāwhiti residents. They service clients and their whanau in Te Araroa, Tokomaru Bay, Tolaga Bay, inland Te Karaka, and Gisborne.
- Waerenga-a-Hika Squash Club - $7,500 to replace their club’s lighting with LED for better efficiency and environmental impacts.
Each funding application demonstrated outcomes that align with the Trust’s wellbeing framework, He Rangitapu He Tohu Ora.
The Trust’s next funding round closes on 15 September 2023.
For more information on past distributions, the funding application toolkit and FAQs, visit our Communities on our website.