Coles has opened a new round of the Coles Nurture Fund to allow small to medium size businesses to apply for grants of up to $500,000.
Businesses with innovative ideas, fewer than 50 full time employees and turnover of less than $25 million in annual revenue are eligible to apply.
Coles Group General Manager of Corporate and Indigenous Affairs Sally Fielke says the fund is helping Aussie producers bring their ideas to life.
“Since 2015, the Coles Nurture Fund has committed more than $30 million in financial support to more than 90 Australian producers, helping them transform their infrastructure, reduce waste, become more energy efficient and install new equipment to support greater volumes of fresh produce,” she says.
“This year, we want to enable more businesses to invest in projects that drive innovation and improve sustainable practices in their farms and facilities.”
Previous projects funded by the Coles Nurture Fund include a vacuum truck to collect manure to convert into renewable energy, Australia’s first quinoa processing facility, and a state-of-the-art factory to grow grass indoors.
National Farmers Federation CEO Tony Mahar says innovation and sustainability are two key pillars that will drive the farm sector’s future success.
“Australia’s farm sector has such exciting opportunities ahead of it as we pursue our ambition to become Australia’s next $100 billion industry,” he says.
“We know that innovation and sustainability are critical to the future of Australian farming, and it’s great to see this investment helping farmers to innovate and grow their businesses.”
To apply for Round 11 of the Coles Nurture Fund, visit coles.com.au/nurturefund. Applications close at 5pm AEST on Friday, 24 February.