Seed Fund for Pacific YES Companies

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1 Seed Fund for Pacific YES Companies Application Form 2016 Background Information The Ministry of Pacific Island Affairs works to improve economic wellbeing and living standards for Pacific people and strengthen Pacific families and Communities. For the past six years the Ministry has partnered with Young Enterprise Trust to support young Pacific people participating in the Young Enterprise Scheme (YES). The Ministry supports the scheme and acknowledges the value of activity where NCEA qualifications can be gained. The Ministry seeks to increase the number of Pacific students within YES and their achievement levels. We believe that young Pacific people who have been a part of YES are better equipped for tertiary education and higher skilled employment including self-employment. Support for Pacific YES students National Excellence Award Each year, the Ministry and Pacific Business Trust present a YES National Award for Excellence in Pasifika Business to the best Pacific YES company, as evidenced by their Annual Review. The winning YES Company will receive a cash prize of $1,000 and $1,000 for the school. Workshops During the year, workshops are held at the Pacific Business Trust in Auckland and Wellington to support Pacific YES Teams. Seed Funding To address financial barriers faced by many Pacific students participating in YES, the Ministry offers Seed Funding to Pacific YES companies. In 2016 the Seeding Fund also seeks to encourage those teams whose products may be ongoing beyond the YES programme. Depending on the product or service, specific support will be available to these teams.

2 Who is eligible to apply for Seed Funding? All Pacific teams participating in YES in 2016 are eligible to apply for seed funding. A Pacific team is defined as being a team where at least 50% of team members are of Pacific ethnicity. How much Seed Funding can companies receive? Successful teams may be awarded between $100 and $500 Seed Funding. The maximum amount one team may receive is $500. What determines the amount of Seed Funding awarded to each team? Each team will be assessed individually by the Ministry of Pacific Island Affairs and the Pacific Business Trust. Seed Funding will be allocated according to: Financial need Business idea High quality business plan Profit potential Potential for the YES company to continue trading beyond 2015 How will teams know if they have been awarded Seed Funding? Teams and their teachers will be notified via . When will teams receive their Seed Funding? Seed Funding will be deposited into the YES Company s bank account as soon as possible after this date. To avoid any delays in receiving this money, please ensure that Section 3 of the application form has been filled out accurately and that verification of the company bank account is attached to the application.

3 Section 1 General Information Company name: School: Company Please list the names of all team members and their ethnicity Student Name: Ethnicity: Teacher s Name: Teacher s Mentor s name: Mentor s company: Mentor s

4 Section 2 Your YES Company Company Business Plan Please attach a copy of your Business Plan to this Application How would your YES Company use this Seed Funding? Please describe how receiving this funding would assist in the development of your product Be as specific as possible in explaining exactly how this funding will be spent Does your YES Company plan to carry on with their business in the future? Please describe how your YES company may continue trading beyond 2015

5 Section 3 Bank Account Details Payment of funding will be by Direct Credit into the YES Company Bank Account or School Bank Account Bank Account Name: Bank Account Number: Bank: Branch: Please provide verify your bank account details by attaching a bank deposit slip to this application. Section 4 Declaration We declare that all the information we have provided is true and correct. Name of Company Director: Signature: Date: Section 5 Application Checklist All sections of the Seed Fund Application Form have been completed Evidence of Bank Account details is attached Company Business Plan is attached Applications may be sent by post or by . If your application is sent by , please make sure all of the above are scanned and attached to your . to: support@youngenterprise.org.nz OR Mail to: Seed Fund, Young Enterprise Trust, PO Box 25525, Featherston Street, Wellington 6011 APPLICATIONS CLOSE at 5:00pm Friday 9th May 2016