Youth Enterprise Initiatives

The Youth Enterprise Initiatives budget is new investment secured in Budget 2017.

Read the Minister for Youth’s announcement here

Government is investing $6m over the next four years to support young people to develop entrepreneurial knowledge, skills and competencies through a range of youth-focused business and enterprise initiatives.

Funding, through contestable application is being made available to young people (Youth Enterprise Fund - Opportunity for Young People and Youth Digital Enterprise Award), as well as organisations working with young people (Youth Enterprise Fund - Programmes and Services).

The Ministry of Youth Development will also invest funding totalling $0.9m per year through the Partnership Fund - Enterprise and Targeted Youth Enterprise Initiatives. Applications to these funds are by invitation and/or allocations at MYD’s discretion, against agreed criteria and priorities.

Youth Enterprise Initiatives will contribute to reaching 5,000 youth development opportunities per year.

Which funding stream can I apply through?

Youth Enterprise Initiatives

If you are a New Zealand registered organisation working with young people, and you have the capacity and capability to assist them to develop entrepreneurial skills, and business and financial acumen you may be able to apply for funding through the Youth Enterprise Fund – Programmes and Services.

Online applications are open between 11 September and 11 October 2017.

Please note: all applications to the ‘Youth Enterprise Fund – Programmes and Services’ funding stream will be reviewed by a member of MYDs Partnership Fund team. If suitable, you may be contacted to discuss the potential for alternative options of funding through the ‘Partnership Fund – Enterprise’ funding stream (see below for more details).

If you a New Zealand registered organisation and have confirmed partner funding (either cash and/or in-kind support) for a youth enterprise initiative that will assist young people to develop entrepreneurial skills, then you may be eligible for funding through the Partnership Fund – Enterprise.

If you think this fund may be suitable for you please call Melanie Crawford on 04 931 2395 or email partnershipfund@myd.govt.nz for an initial discussion. More information about this fund can be found here. The Partnership Fund – Enterprise funding stream remains open all year round.

If you (individually or with a group of friends) want to develop knowledge, skills, or competencies or you need mentoring, to help develop an innovative enterprise or entrepreneurial project or idea (and you’re all aged between 12 to 24 years) then you may be able to apply for funding through the Youth Enterprise Fund – Opportunity for Young People. If you are interested in applying the first step is to lodge an Expression of Interest, this process is open online between 31 July and 17 August 2017.    

The Youth Digital Enterprise Award is an initiative aimed at supporting young people who are developing and/or have an idea or concept for developing a smart and innovative enterprise project with a digital focus. If you are interested in applying the first step is to lodge an Expression of Interest, this process is open online between 21 August and 15 September 2017. More information about this fund can be found below or clicking here.

The Youth Enterprise Fund - Programmes and Services aims to drive innovation and collaboration in service design and delivery which assists young people to develop entrepreneurial skills, business and financial acumen. In a rapidly and constantly changing global environment, young people with entrepreneurial attitudes, behaviours and capabilities are more likely to succeed personally, academically and in business. MYD is inviting applications from Monday 11 September 2017, 12:00pm (midday) to Wednesday 11 October 2017, 12:00pm (midday). More information about this fund can be found below.

The Targeted Youth Enterprise Initiatives supports youth enterprise initiatives with a demonstrated track record in increasing academic achievement, and/or leading to establishing enterprise start-ups, and/or leading to employment opportunities. The funding is allocated at the discretion of MYD, based on agreed criteria and priorities.

Youth Enterprise Fund - Programmes and Services

The Youth Enterprise Fund - Programmes and Services aims to drive innovation and collaboration in service design and delivery which assists young people to develop entrepreneurial skills, business and financial acumen. In a rapidly and constantly changing global environment, young people with entrepreneurial attitudes, behaviours and capabilities are more likely to succeed personally, academically and in business.

Criteria and Application Process

What is the aim of the initiative? The Youth Enterprise Fund - Programmes and Services initiative is a contestable fund which aims to drive innovation and collaboration in service design and delivery which assists young people to develop entrepreneurial skills, business and financial acumen.
How much is available? $300,000 per year, for the four year period 2017 to 2021.
Who can apply? New Zealand registered organisations with the capacity and capability to deliver initiatives meeting the funding criteria.
What are the funding criteria?

The Ministry of Youth Development (MYD) is seeking to support initiatives which demonstrate:

  • Youth focused business and/or social enterprise learning and developmental activities within and across targeted communities (e.g. young people from disadvantaged backgrounds)
  • the development of young people’s entrepreneurial knowledge, skills and aptitude and ‘other’ transferable skills
  • building young people’s resilience and confidence through youth-focused business and enterprise initiatives
  • contributing to young people’s academic achievement
  • extending the number of business and enterprise focused youth development opportunities
  • providing value for money
  • benefitting young people aged 12 to 24 years old.

Note: Priority will be given to initiatives that align to the MYD Youth Investment Strategy, and organisations that have demonstrated effectiveness in achieving tangible outcomes (e.g. raising academic achievement, increasing consumer choice, expanding market reach).

What is the application process?

 MYD is inviting applications from Monday 11 September 2017, 12:00pm (midday) to Wednesday 11 October 2017, 12:00pm (midday). N.B: Applications have now closed.

What is the timeline for the funding allocation process?

Application assessment to be completed by: Monday 30 October 2017, 12:00pm

All applicants to be notified from 16 November 2017.

Applicants approved for funding will receive a Letter of Offer from late-November 2017.

What kinds of things could be funded?

MYD’s focus is young people’s development. We want to support opportunities which will increase their skills, knowledge and experiences (with the potential to contribute to academic achievement). Youth Enterprise focused youth development opportunities include, but are not limited to:

  • initiatives which develop business skills
  • personal leadership through entrepreneurial experiences
  • experiences enhancing enterprise knowledge and/or skills.

Note: MYD’s primary interest is improving young people’s resilience and capability through developing entrepreneurial knowledge, skills and aptitude.

What can't be funded?

MYD is unable to fund:

  • initiatives targeted at those below the age of 12 years or over the age of 24 years
  • initiatives being delivered outside New Zealand
  • initiatives that have already been completed
  • overseas and domestic air travel
  • sponsorship of an individual
  • individuals without the support of a legal entity
  • on-going costs, such as rent or salaries
  • youth support/development services not aligned to Youth Enterprise Initiatives
  • financial literacy and/or budgeting services
  • costs associated with establishing and/or running a business venture.
How are funding decisions made?

MYD will convene a panel to review and assess received applications against the funding criteria and alignment to MYD’s Youth Investment Strategy.

The panel will make funding recommendations to be moderated and approved by MYD.

MYD anticipates requests for funding will exceed the available budget, and reserves the right to award funding at a level, and for a period at its discretion.

Where further information is required regarding a submitted application, MYD will directly contact the key person named in the application.

What are the reporting requirements?

Recipients of funding will provide reporting information including, but not limited to a :

  • Quarterly Update Report from the Provider organisation
  • Participant Feedback Survey (open across the whole financial year).
When will decisions be announced? From November 2017
How can applications be made?

 You can lodge your application through here: https://myd.smartygrants.com.au/

Who can be contacted to answer questions?

Dibs Patel, Senior Advisor Youth Development

Tel: 04 916 3537

Email: dibs.patel005@myd.govt.nz

You can read the Youth Enterprise Fund - Programmes and Services FAQs here.

Download the PDF version of the Youth Enterprise Fund - Programmes and Services Criteria and Application Process here.

Download the PDF version of the Youth Enterprise Fund - Programmes and Services FAQs here.

Youth Digital Enterprise Award

The Youth Digital Enterprise Award (the Award) is designed to provide scholarship funding to support young people who are developing and/or have an idea or concept for developing a smart and innovative enterprise project with a digital focus.

Criteria and Application Process

What is the aim of the initiative? The Youth Digital Enterprise Award initiative aims to support young people who are developing, or have an idea or concept for developing, a smart and innovative enterprise project with a digital focus and would benefit from increasing their skills, knowledge, experience, networks and/or engaging more effectively with wider digital technology industry partners.
How much is available? $110,000 per year (to be awarded as scholarship funding to a value of up to $1,000 per successful applicant).
Who can apply? Young people aged 12 to 18 years
What are the funding criteria?

The Ministry of Youth Development (MYD) will support initiatives which demonstrate:

  • a digital/Information Technology focus
  • innovation and potential enterprise viability
  • potential for social and/or environmental impact
  • value for money and learning impact.
What is the application process?

MYD is inviting young people to submit an Expression of Interest (EoI) from Monday 21 August, 12:00pm (midday) to Friday 15 September, 12:00pm (midday).

Successful EoI’s will be invited to present their initiative to a panel (either in person or by video) and say why it should receive scholarship funding (invited applicants will have a maximum of 3 minutes). Venue/s and date/s will be confirmed with successful applicants.

What is the timeline for the funding allocation process?

Lodging an EoI will be open from:

Monday 21 August, 12:00pm (midday) to Friday 15 September, 12:00pm (midday)

Successful EoI’s should be available during the period Monday 2 October to Friday 13 October to present their initiative to a panel.

Applicants approved for scholarship funding will be confirmed from late-October.

What kinds of things could be funded?

 MYD’s focus is young people’s development. We want to support opportunities which will increase your skills, knowledge and experiences. Examples of things you could apply the Youth Digital Enterprise Award towards include, but is not limited to:

  • attending a digital focused event and/or programme
  • undertaking market research to identify the demand for a digital product
  • receiving input from an industry expert
  • building and/or testing of a prototype digital product.
What can't be funded?

MYD is unable to fund:

  • initiatives targeted at those below the age of 12 years or over the age of 18 years (MYD will review the upper age limit in 2018/2019)
  • initiatives being delivered outside New Zealand
  • on-going costs, such as rent or salaries
  • subsidising costs or covering funding shortfalls for existing initiatives
  • enterprise/business initiatives which do not have a clear digital focus.
How are funding decisions made?

EoI’s will be reviewed and assessed against the Youth Digital Enterprise Award criteria and alignment to MYD’s priorities. Download the MYD Youth Investment Strategy Here.

The assessment processes will consider only the information submitted.

Where further information is required regarding a submitted EoI, MYD will directly contact the named applicant.

MYD will invite successful applicants to present their initiative and say why it should receive scholarship funding to a panel convened by MYD.

The panel will confirm funding recommendations to be moderated and approved by MYD.

MYD reserves the right to award funding at a level, and for a period at its discretion

What are the reporting requirements?

Fund recipients will provide reporting information including:

  • what purposes the funds were used for, including a breakdown of financial expenditure
  • how funds have contributed to achieving an increase in knowledge, skills and competencies to help them execute their project or idea
  • proposed next steps in recipients enterprise development
When will decisions be announced? Late-October 2017
How can applications be made?

Click the link below to lodge your Expression of Interest (EoI):

https://myd.smartygrants.com.au/

Who can be contacted to answer questions?

Dibs Patel, Senior Advisor Youth Development

Tel: 04 916 3537

Email: dibs.patel005@myd.govt.nz

You can read the Youth Enterprise Fund - Youth Digital Enterprise Award FAQs here.

Download the PDF version of the Youth Enterprise Fund - Youth Digital Enterprise Award Criteria and Application Process here

Download the PDF version of the Youth Enterprise Fund - Youth Digital Enterprise Award FAQs here

Download the PDF flyer to be used to promote the fund through schools, youth organisations, community groups, etc, here