Ideas needed for Coles Nurture Fund

Innovative ideas called for Coles Nurture Fund

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MOMENT: Got an idea to expand your farming capacity? Consider applying for the Coles Nurture Fund.

MOMENT: Got an idea to expand your farming capacity? Consider applying for the Coles Nurture Fund.

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Coles has trumped up more cash for its latest round of the Coles Nurture Fund.

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SUPERMARKET giant Coles has put the call out for innovative farmers to take up the Coles Nurture Fund to help their businesses.

A new round of the Coles Nurture Fund has opened, providing grants of up to $500,000 for small businesses to develop new market-leading products, processes and technologies.

Food and beverage producers affected by bushfires or drought can also apply for financial support to help renew their business.

Businesses with innovative ideas, fewer than 50 full time employees and turnover of less than $25 million in annual revenue are eligible to apply.

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Coles chief executive officer, Steven Cain, encouraged small businesses to apply for financial support from the Coles Nurture Fund ahead of the deadline on March 20.

"At Coles, we want to win together with food and beverage producers by funding projects which drive innovation to inspire customers or improve sustainability on Aussie farms and production facilities," he said.

"As a proudly Australian company that began as a small business more than 100 years ago, supporting Australian producers to develop their businesses is a key pillar of our strategy to sustainably feed all Australians to help them lead healthier, happier lives."

Since it was established in 2015, the Coles Nurture Fund has committed more than $21 million in financial support to more than 50 Australian businesses to help them introduce ground-breaking technology, establish new products and improve productivity and efficiency.

Previous Nurture Fund projects include Australia's first quinoa processing plant and an automated indoor facility that grows highly nutritious cattle fodder in just six days.

Applications close at 5pm AEST on Friday, March 20, 2020.

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