Coles’ financial support for SMEs

Coles has opened the seventh round of the Coles Nurture Fund to allow small to medium businesses to apply for grants.

Farmers and food producers can apply for financial assistance of up to $500,000 to develop new products, processes and technologies.

Focus on innovation

Coles’ focus is on small and medium businesses with innovative ideas that employ less than 50 full-time people and have an annual turnover less than $25 million.

“We know Australian farmers and food producers have new and innovative ideas to take their business to the next level,” Coles CEO Greg Davis said.

“By providing financial support from the Coles Nurture Fund, we want to help bring their plans to fruition to set their business up for the long term. Together, we hope we can help extend growing seasons, improve productivity, reduce imports and drive differentiation.”

Since it was established in 2015, the fund has provided more than $19 million to 50 businesses, which have introduced new technology and products or improved productivity and efficiency.

Fund projects 

Projects range from an X-ray scanner which sorts and sizes potatoes to a fodder factory that can grow grass indoors in six days.

As part of round six of the fund, 16 producers shared in $5 million to help them combat drought through new initiatives to store fodder, grow more grass and save water.

To apply for round seven of the Coles Nurture Fund, visit www.coles.com.au/nurturefund.

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