Anderton Welcomes New Service To Promote Business Growth, Jobs

Minister for Economic Development
Wednesday 3 December 2003

Making sure that up-and-coming companies are best utilising the capital markets is an important factor in the drive to improve our economic and social performance, Economic Development Minister Jim Anderton said today.

"Responsible governments could and should make a positive contribution to business development which is why I am pleased that New Zealand Trade and Enterprise has today launched a service designed to improve entrepreneurs' understanding of, and success from participating in, capital raising," Jim Anderton said.

The new Escalator service is designed to assist entrepreneurial New Zealanders and innovative small-to-medium sized companies better access investment capital and strategic partners.

"Ensuring efficient means for innovative growing companies to access capital is critical to the creation of high quality jobs for all of our people and building the conditions for long-term sustainable economic development," the Progressive leader said.

New Zealand Trade and Enterprise earlier today launched the Escalator service, replacing the Investment Ready Scheme successfully operated by the Economic Development Association of New Zealand (EDANZ) and I Grow New Zealand Ltd. since July 2000.

The Escalator service will be managed by EDANZ and Deloitte and delivered in association with three independent brokers, providing companies with enhanced tools and training to better win either new equity partners or new strategic partnerships. Some companies will get assistance brokering deals.

The new enhanced service complements other New Zealand Trade and Enterprise services such as the nationwide Enterprise Training Programme and the Enterprise Development Fund.

http://www.nzte.govt.nz/escalator

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