Youth Enterprise Initiatives

The Youth Enterprise Initiatives budget is new investment secured in Budget 2017.

Government is investing $6m over the next four years to support young people to develop entrepreneurial knowledge, skills and competencies through a range of youth-focused business and enterprise initiatives.

Funding, through contestable application, is being made available to young people (Youth Enterprise Fund - Opportunity for Young People and Youth Digital Enterprise Award), as well as organisations working with young people (Youth Enterprise Fund - Programmes and Services).

The Ministry of Youth Development will also invest funding totalling $0.9m per year through the Partnership Fund - Enterprise and Targeted Youth Enterprise Initiatives. Applications to these funds are by invitation and/or allocations at MYD’s discretion, against agreed criteria and priorities.

Youth Enterprise Initiatives will contribute to reaching 5,000 youth development opportunities per year.

Which funding stream can I apply through?

Youth Enterprise Initiatives

If you a New Zealand registered organisation and have confirmed partner funding (either cash and/or in-kind support) for a youth enterprise initiative that will assist young people to develop entrepreneurial skills, then you may be eligible for funding through the Partnership Fund – Enterprise. If you think this fund may be suitable for you please call Melanie Crawford on 04 931 2395 or email partnershipfund@myd.govt.nz for an initial discussion. More information about this fund can be found here. The Partnership Fund – Enterprise funding stream remains open all year round.

If you (individually or with a group of friends) have a smart and innovative enterprise project and/or an idea to design a new enterprise project, including making a social and/or environmental difference (and you’re all aged between 12 to 24 years), then you may be able to apply for funding through the Youth Enterprise Fund – Opportunity for Young People. Applications for Round Two open on 13 November 2017 at 12:00pm (midday). More information about this fund can be found below.

The Youth Digital Enterprise Award is an initiative aimed at supporting young people who are developing and/or have an idea or concept for developing a smart and innovative enterprise project with a digital focus. If you are interested in applying the first step is to lodge an Expression of Interest. Round Two opens online from Monday 13 November at 12:00pm (midday). More information about this fund can be found below or clicking here.

The Youth Enterprise Fund - Programmes and Services aims to drive innovation and collaboration in service design and delivery which assists young people to develop entrepreneurial skills, business and financial acumen. In a rapidly and constantly changing global environment, young people with entrepreneurial attitudes, behaviours and capabilities are more likely to succeed personally, academically and in business. This fund is now closed and successful recipients will be announced soon.

The Targeted Youth Enterprise Initiatives supports youth enterprise initiatives with a demonstrated track record in increasing academic achievement, and/or leading to establishing enterprise start-ups, and/or leading to employment opportunities. The funding is allocated at the discretion of MYD, based on agreed criteria and priorities.

Youth Digital Enterprise Award

The Youth Digital Enterprise Award (the Award) is designed to provide scholarship funding to support young people who are developing and/or have an idea or concept for developing a smart and innovative enterprise project with a digital focus.

Criteria and Application Process

What is the aim of the initiative? The Youth Digital Enterprise Award initiative aims to support young people who are developing, or have an idea or concept for developing, a smart and innovative enterprise project with a digital focus and would benefit from increasing their skills, knowledge, experience, networks and/or engaging more effectively with wider digital technology industry partners.
How much is available? $110,000 per year (to be awarded as scholarship funding to a value of up to $1,000 per successful applicant).
Who can apply? Young people aged 12 to 18 years
What are the funding criteria?

The Ministry of Youth Development (MYD) will support initiatives which demonstrate:

  • a digital/Information Technology focus
  • innovation and potential enterprise viability
  • potential for social and/or environmental impact
  • value for money and learning impact.
What is the application process?

MYD is inviting young people to submit an Expression of Interest (EoI) for the Youth Digital Enterprise Award Round Two from from Monday 13 November at 12:00pm (midday).

Successful EoI’s will be invited to present their initiative to a panel (either in person or by video) and say why it should receive scholarship funding (invited applicants will have a maximum of 3 minutes). Venue/s and date/s will be confirmed with successful applicants.

What is the timeline for the funding allocation process?

Lodging an EoI will be open from:

Monday 13 November at 12.00pm (midday).

Some other dates to note:

  • EoIs received by 15 January 2018 will be considered by the panel on 1 February
  • EoIs received by 12 February 2018 will be considered by the panel on 1 March
  • EoIs received by 12 March 2018 will be considered by the panel on 5 April.

Applicants approved for scholarship funding will be confirmed from late-February 2018.

What kinds of things could be funded?

MYD’s focus is young people’s development. We want to support opportunities which will increase your skills, knowledge and experiences. Examples of things you could apply the Youth Digital Enterprise Award towards include, but is not limited to:

  • attending a digital focused event and/or programme
  • undertaking market research to identify the demand for a digital product
  • receiving input from an industry expert
  • building and/or testing of a prototype digital product.

Some examples of initiatives that received funding in Round One include:

  • A series of ‘Future of Work/Tech’ workshops delivered to young women aged 12 to 18 years
  • A parking space finder – a phone application that directs you to available parking spaces
  • An automatic lawnmower
  • An app customised for each school’s timetabling system which supports student’s study needs.
What can't be funded?

MYD is unable to fund:

  • initiatives targeted at those below the age of 12 years or over the age of 18 years (MYD will review the upper age limit in 2018/2019)
  • initiatives being delivered outside New Zealand
  • on-going costs, such as rent or salaries
  • subsidising costs or covering funding shortfalls for existing initiatives
  • enterprise/business initiatives which do not have a clear digital focus.
How are funding decisions made?

EoI’s will be reviewed and assessed against the Youth Digital Enterprise Award criteria and alignment to MYD’s priorities. Download the MYD Youth Investment Strategy Here.

The assessment processes will consider only the information submitted.

Where further information is required regarding a submitted EoI, MYD will directly contact the named applicant.

MYD will invite successful applicants to present their initiative and say why it should receive scholarship funding to a panel convened by MYD.

The panel will confirm funding recommendations to be moderated and approved by MYD.

MYD reserves the right to award funding at a level, and for a period at its discretion

What are the reporting requirements?

Fund recipients will provide reporting information including:

  • what purposes the funds were used for, including a breakdown of financial expenditure
  • how funds have contributed to achieving an increase in knowledge, skills and competencies to help them execute their project or idea
  • proposed next steps in recipients enterprise development
When will decisions be announced? Late-February 2018
How can applications be made?

Click the link below to lodge your Expression of Interest (EoI) from Monday 13 November at 12:00pm (midday).

https://myd.smartygrants.com.au/

Who can be contacted to answer questions?

Dibs Patel, Senior Advisor Youth Development

Tel: 04 916 3537

Email: dibs.patel005@myd.govt.nz

You can read the Youth Enterprise Fund - Youth Digital Enterprise Award FAQs here

Download the PDF version of the Youth Enterprise Fund - Youth Digital Enterprise Award Criteria and Application Process here

Download the PDF version of the Youth Enterprise Fund - Youth Digital Enterprise Award FAQs here

Download the PDF flyer to be used to promote the fund through schools, youth organisations, community groups, etc, here

Youth Enterprise Fund – Opportunity for Young People

This funding initiative is targeted at individuals and/or groups of youth who have a new and/or innovative enterprise project or idea, and need knowledge, skills, competencies or mentoring to help them execute their project or idea.

Criteria and Application Process

What is the aim of the initiative?

This funding initiative is targeted at individuals and/or groups of youth who have a new and/or innovative enterprise project or idea, and need knowledge, skills, competencies or mentoring to help them execute their project or idea.

This fund is to support young people to transition from an idea or fledgling operation into a viable business e.g. funds could be allocated towards market research, marketing, brand development or securing patent rights.
How much is available? $190,000 per year
Who can apply? Young people, aged 12 to 24 years, who have their own, and/or are being supported by, a New Zealand registered organisation.
What are the funding criteria?

The Ministry of Youth Development (MYD) will support initiatives which demonstrate:

  • innovation and viability of enterprise project
  • potential for sustainability and growth
  • potential of social and/or environmental impact
  • value for money and learning impact.
What kinds of projects/ideas can be funded?

The Ministry of Youth Development (MYD) will look to fund:

  • a fledgling operation to upscale into a viable business
  • new and/or innovative enterprise projects and/or enterprise ideas
  • existing successful enterprises, supporting your business to expand into new and/or innovative areas.

What can't be funded?

MYD is unable to fund:

  • initiatives targeted at those below the age of 12 years or over the age of 24 years
  • initiatives being delivered outside New Zealand
  • initiatives that have already been completed
  • overseas or domestic air travel
  • individuals without the support of a legal entity
  • on-going costs, such as rent or salaries
  • youth support/development services not aligned to Youth Enterprise Initiatives funding criteria
  • financial skills education and/or budgeting services.

 

What is the timeline for the funding allocation process?

Applications will be open from 13 November 2017 at 12:00pm (midday) and MYD will accept applications on a rolling basis until all the funds have been allocated.

A panel will assess applications on the following dates:

  • Applications received by 15 January 2018 will be considered by the panel on 7 February.
  • Applications received by 12 March 2018 will be considered on 4 April.
How are funding decisions made?

Applications aligning to MYD priorities will be reviewed and assessed against the Youth Enterprise Initiatives funding criteria. Assessment processes will only consider the information submitted.

Where further information is required regarding a submitted application, MYD will directly contact the named applicant.

MYD will be responsible for convening suitable funding panels to review and assess applications.

Funding recommendations will be moderated and approved by MYD.

MYD reserves the right to award funding at a level, and for a period of its determination.

What are the reporting requirements?

Fund recipients will provide reporting information including:

  • what purposes the funds were used for
  • how funds have contributed to achieving an increase in knowledge, skills and competencies to help them execute their project or idea
  • proposed next steps in recipients enterprise development
  • breakdown of financial expenditure.
How can applications be made?

Click https://myd.smartygrants.com.au/ to complete your application. 

Who can be contacted to answer questions?

Sarah Freer, Senior Advisor Youth Development

Email: sarah.freer005@msd.govt.nz  

You can read the Youth Enterprise Fund - Opportunity for Young People FAQs here.

Download a PDF version of the Youth Enterprise Fund - Opportunity for Young People Criteria and Application Process here.

Download the PDF version of the Youth Enterprise Fund - Opportunity for Young People FAQs here.

Youth Enterprise Fund - Programmes and Services

The Youth Enterprise Fund - Programmes and Services aims to drive innovation and collaboration in service design and delivery which assists young people to develop entrepreneurial skills, business and financial acumen. In a rapidly and constantly changing global environment, young people with entrepreneurial attitudes, behaviours and capabilities are more likely to succeed personally, academically and in business. This fund is now closed and successful recipients will be announced soon.