Appendix 1: Current Criteria for Enterprise Awards Scheme
Scheme Criteria
- The scheme is project based
- The maximum award per applicant per year (July/June) is $20,000
- Awards are offered on a 50:50 reimbursement basis, based on details of costs submitted by the applicant
- Costs cannot be retrospective
- Other Government funds cannot be used to fund the applicant's 50% of the Award
Project Criteria
- The project must have good commercial potential and add value to an existing business or an entrepreneur's current activities
- Applicants must demonstrate that they have the capacity and capability (including financial and planning support) to carry the project through to commercialisation
- The project must be consistent with relevant laws and regulations
Entry Criteria
Businesses must be:
- resident in New Zealand for tax purposes
- operating in a commercial environment
- registered for GST purposes (where required under Inland Revenue tax regulations)
- financially viable
Entrepreneurs must be:
- a New Zealand citizen or have permanent resident status
- able to show how they are going to finance the project.
Ineligible Costs
- Costs relating to normal business operating expenses, non-developmental costs of the project, business establishment, purchase of assets
- Costs incurred internally by the organisation, such as payments that cannot be invoiced by a third party
- Work undertaken in relation to the project by employees or immediate family members of the applicant. This includes business or associate companies and/or directorships held.
- Costs of anyone with a pecuniary interest in the project
- Cost of permits, consents, licence fees, renewal fees or registration fees
- Costs relating to website creation
- Applications from Government departments and their agencies
- Costs relating to commercialisation e.g. printing of brochures/advertising.
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