New $1 Million Fund To Encourage Housing Innovation In NZ

The Westpac NZ Government Innovation Fund is making $1 million in funding available for innovators working to help New Zealanders into quality homes.

The Innovation Fund is funded by Westpac NZ and jointly governed by an Investment Board made up of Westpac and Government representatives. It runs two themed intakes per year, and applicants are invited to apply for funding to help them work towards solving key issues.

Westpac NZ Government Innovation Fund Director Simon Rogerson says the $1 million in funding will be available to Government agencies, NGOs, community groups and private sector applicants who are exploring innovative and tangible housing solutions.

“Having a home that enables intergenerational wellbeing and security should be within reach for as many New Zealanders as possible,” says Mr Rogerson.

“There are a whole range of challenges, many of them historical, that are impacting Kiwis’ access to quality homes, and while ‘quality homes’ will mean different things to different people, communities themselves are often best positioned to determine the solutions that work for them.”

“We see quality homes as more than simply housing. Access to quality homes is a potential enabler of intergenerational wellbeing and stability, especially for those people most affected by the housing crisis.”

The Westpac NZ Government Innovation Fund has commissioned a report from ThinkPlace to support applicants looking to apply.

“The report really highlights the challenges and opportunities along with the need for diverse thinking to optimise the housing landscape for New Zealanders. I encourage anyone working in the housing sector, or those interested in applying for our funding grant to have a read.”

“We’re looking for ventures that will have an impact on ways New Zealanders could live, invest, build and finance housing. If someone thinks their project has what it takes, we urge them to fill out an application.”

Applications for this intake close on 21 October, and allocations will be announced in early 2023. More information about the Innovation Fund and how to apply can be found at innovationfund.co.nz.

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