First round of the Ākina IIRP 2022 recipients announced
Ākina is proud to introduce the first round of funding recipients for the 2022 Impact Investment Readiness Programme (IIRP).
Ākina exists to transform New Zealand's economy through the power of impact. One way we're doing this is by helping to grow a bigger and stronger impact investing market in New Zealand; one where more funding is available for social, cultural and environmental initiatives.
The IIRP is run by Ākina, with funding coming from our generous programme partners; The Tindall Foundation, Kiwibank, Foundation North and WEL Energy Trust. This is our sixth year running the IIRP, and our largest yet with a funding pool of $300,000.
The IIRP provides funding of up to $30,000 for impact-led businesses to spend on professional support that gets them ready for investment. After completing the readiness work, recipients typically go on to receive significant investment, and grow their business and impact accordingly. In five years, IIRP recipients were granted $795,000 in funding, and then went on to raise $49.75m in impact investment … that’s 62 times the amount granted!
Previously, we’ve supported businesses like Raglan Food Co, Again Again, Nau Mai Rā, Localised, Leaft, Supergenerous, 3 Bags Full and Hot Lime Labs to name a few.
We want this programme to encourage more investment in impact-driven pakihi (businesses), to increase the overall impact made by social enterprises and other purpose-led businesses in New Zealand.
We are pleased to have recipients that are Māori-owned businesses and that tauiwi (non-Māori) businesses are applying Te Ao Māori principles into their business and impact models.
The Ākina Impact Investment Readiness Programme is currently the only one of its kind in Aotearoa New Zealand. In Australia, the government supports an investment programme similar to this one; and Ākina is calling for the New Zealand Government to do the same to accelerate the growth of the New Zealand impact investing market.
November round recipients
Critical Design
“Having Ākina's IIRP support could not have come at a better time. As Critical gears up to close an impact investment round before opening a crowd investment campaign. Ākina's tautoko (support) will go towards helping Critical seal impact into our legal documentation, support our the development of novel IP and campaigning support towards our retail investment round. As a Māori-owned clean technology startup where both tiakitanga and manaakitanga are central to our mission, we could not have found better partners to support us than Ākina, where impact is built into their DNA.”
- Rui Peng, Critical Designs
Check out this feature about Critical Design in TV3's The Project.
Maui Inc.
"My dream has always been to work with the taiao and mother nature to look after her like she has looked after us for generations of whanau in Te Hiku. Maui Inc’s vision is to to create a vibrant aquaculture sector in Te Hiku for the benefit of Te Hiku, and by extension Aotearoa New Zealand. Thank you Ākina Foundation for your confidence and support of this vision."
- Patau Tepania, Founder and Inventor Maui Inc
Alimentary Systems
“Receiving support from Ākina will support our aim to create a circular economy in Aotearoa. Our mission is to consolidate council and industry infrastructure into a single Bioenergy Processing Recovery Plant (BRRP), and this funding will allow us to start seeking impact investment. By working together we can convert Aotearoa's $17 emissions liability into economic value and prevent the cost from being borne by ratepayers and farmers.”
- Matthew Jackson, Alimentary Systems
KiwiFibre Innovations
“Starting a deep tech business with global focus, from scratch, with no capital, while still being students, in Aotearoa, is challenging at the best of times. Our success so far has come from working with people and organisations who get it, and who value the importance of impact-driven business. This grant from the Ākina Foundation is helping us get the help we need to take the next step in achieving our vision.”
- Ben Scales, KiwiFibre Innovations
Thinkladder
“So stoked to receive our first grant from an impact-focused funder. This capital will help us tremendously. Thanks Ākina!”
- Mark Gatt, Thinkladder
Check out the second round of 2022 recipients announced here.
Thanks to the support of our programme partners..
