Coles has opened a new round of the supermarket giant's Nurture Fund which will provide grants up to $500,000 for small and medium sized businesses to develop new products, technologies and processes.
Subscribe now for unlimited access to all our agricultural news
across the nation
or signup to continue reading
Its CEO Steven Cain has encouraged businesses to apply for the grants in Round 9 of the fund.
"At Coles we want to win together with Australian producers by funding projects which drive innovation to inspire customers or improve sustainability on Aussie farms and production facilities," he said.
"Together we hope to drive differentiation, sustainable practices, extend growing seasons and improve productivity."
Businesses with innovative ideas, fewer than 50 full-time employees and turnover of less than $25 million in annual revenue are eligible to apply.
Mr Cain said since it was established in 2015 the Coles Nurture Fund had awarded more than $24 million in financial support to more than 60 Australian businesses to help them introduce ground-breaking technology, improve sustainability, establish new products and drive productivity.
Previous Nurture Fund projects have included Australia's first quinoa processing plant, an automated indoor facility that grows nutritious cattle fodder in just six days and fence posts made from recycled soft plastic.
National Farmers Federation CEO Tony Mahar said Australian farmers were among the most innovative in the world.
"For five years the Coles Nurture Fund has recognised and rewarded Aussie farmers who are leading the way in ingenuity and innovation," he said.
"Each round of the Nurture Fund uncovers inspiring farm businesses pushing the boundaries when it comes to processes, technologies and value-adding.
"The fund's focus on sustainability and increased efficiencies is in direct alignment with the NFF's vision to grow Australia's overall farm gate output to $100 billion by 2030, up from $60 billion today," Mr Mahar said.
Applications close at 5pm AEST on Friday, March 19, 2021.
To apply for Round Nine of the Coles Nurture Fund, log onto www.coles.com.au/nurturefund
