Haea Te Awa - Regional Investment Fund
Haea Te Awa was created to ensure a focus on the formation of Papatipu Rūnanga development and regional rangatiratanga. This was a strong theme that emerged from the Papatipu Rūnanga Aspirations Group presentations, ‘Auahi-Auora’, in 2016. In 2019, the following outputs of Haea te Awa were approved at the November Te Rūnanga o Ngāi Tahu hui.
The primary goal of Haea te Awa is to enable all 18 Papatipu Rūnanga to achieve economic self-determination to improve whānau outcomes.
The four core elements of the Regional Development Strategy are:
The Implementation
The home fires are burning bright – Papatipu Rūnanga have over $180m in net assets on their balance sheets, and investment readiness and capability is lifting across the regions. Papatipu Rūnanga are ready to enter the next phase of their journeys, and with the support of the Fund, we can collectively “put more wood on the fire” – through an enhanced suite of offerings – to ensure the home fires burn brighter, sooner.
There is no time like the present to supercharge Papatipu Rūnanga investments in productive assets that deliver intergenerational returns across the economic, social, cultural, environmental, and political spectrums for Ngāi Tahu Whānui.
Key Principles
Primary Investment Goal
Blended Returns
Create jobs and career pathways.
Increase social inclusion and participation of Ngāi Tahu Whānui in the wider community.
Enable economic multipliers to 'bounce the dollar' to foster a tribal economy.
Encourage cultural and environmental sustainability and the productive use of land, water and other natural resources.
Improve the resiliency and the strength of Papatipu Rūnanga balance sheets.
Funding Model
- $5M from the Fund and Papatipu Rūnanga will unlock investment opportunities up to c.$15M.
- To unlock the full $5M funding package, Papatipu Rūnanga need $1.25M in equity.
- The remaining $3.75M will be provided in the form of a $2.5M grant and a $1.25M loan at 0%.
- You can collectivise to achieve more.
- This aligns with the staged devolution process, funding limits and Appendix Three of the Regional Development Strategy 2019.
Existing Funding Process
The existing process works well and is responsive to the needs of Papatipu Runanga. All six funded projects went through the robust stage-gated funding process below. The Fund will continue to work alongside Papatipu Runanga to provide a holistic suite of capability supports. This includes due diligence work and deal origination endeavours.
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