Coles Nurture Fund

To be eligible for funding applicants must:

• have a turnover that is less than $25,000,000 per annum;
• employ no more than 50 full time employees (excluding casual seasonal labour);
• have a registered Australian Business Number;
• have been trading for a minimum of two years;
• provide financial statements for a minimum of the previous two financial years;
• demonstrate the project is unique and drives innovation, and provides outstanding sustainability benefits;
• provide a funding declaration from an external accountant on the accountant’s company letterhead confirming ability to fund applicant’s share of project costs and solvency.

Applicants that have already secured co-investments for their project from other entities will be considered.
However, funds cannot be allocated for general operational expenses including purchase of real estate, rent, utilities, marketing or remuneration for existing staff. Nor can funds be used as security to obtain, or comply with, any form of loan, credit, payment or other interest or for the preparation of, or in the course of, any litigation.

See the guidelines for full details of eligible applicants.

1. The level of innovation and economic benefit that the proposed project will bring

2. The sustainability improvements that the project will bring

3. The demonstrated capacity of the applicant(s) to successfully undertake the project, outlining the skills, experience and resources that will be accessed for the purposes of the project described in the application form

4. The demonstrated capacity of the applicant to provide funding to complete the project^*

5. Sustainability of the project to continue after its completion date, over the longer-term without the need for ongoing support

6. The benefit of CNF funding for the project: Would the investment proposal proceed without the CNF funding?

^*Whilst matched funding is not an eligibility requirement, the applicant must demonstrate that it can fund the project costs not funded by the CNF.

Possible questions that may be asked during the CNF Application and Evaluation Process

Some of the questions the Applicant may be required to answer during the CNF application and evaluation process include but are not limited to:

• Why is the Applicant applying for support from the CNF?
• How will the support from the CNF be used by the Applicant?
• What assets may need to be purchased, and what entities would supply goods and services required by the project?
• What business debt does the Applicant have, and who are the Applicant’s creditors?
• Who are the members of the Applicant’s management team?
• Is the proposal market-ready?

See the application form for full details of the assessment criteria and evaluation process.

You should read and understand the guidelines.

You need to ensure you are eligible for the funding. Applicants that do not meet all the eligibility criteria outlined above will not be considered.

Successful applicants will demonstrate:

• a unique and innovative project that creates value for business and customers
• a sound project plan that identifies key activities/milestones and establishes the project’s long-term sustainability
• the need for funding and its impact on the project’s timing and scale
• the skills, experience and resources to successfully deliver the project within the agreed timeline

The following documents must be attached to the application:

• Funding declaration from an external accountant on the accountant’s company letterhead confirming ability to fund applicant’s share of project cost and solvency
• Resumes of key personnel – maximum two pages each
• Copy of statutory approvals received for planning or building (if applicable)
• Applicant’s two most recent financial statements

Information required for the application form includes:

• a project timeline
• project milestones/major activities
• a project budget

Applications should also provide material to demonstrate the potential value of the project across several key measures, including but not limited to commercial potential, adoption of innovative technology, economic impact, and level of strategic alignment with the food and grocery sector in areas such as fresh produce, food processing, grocery, energy efficiency, logistics/transport, IT and packaging. Applicants will also be asked to demonstrate where they can achieve productivity improvements and capture new market opportunities through additional investment.

See the guidelines and application form for full details of information requirements.

Applications are submitted via the fund website.

Register your interest here with GrantHelper to explore your alignment with this program and how we can assist you to increase your chances of success.