CFPs: Economic Diversification Fund (New Zealand)

The Economic Diversification Fund, provided by the Queenstown Lakes District Council (QLDC), supports collaborative projects that strengthen and diversify the Queenstown Lakes economy. The fund helps businesses and organisations develop new industries, remove growth barriers, improve innovation, and create long-term economic benefits aligned with the Economic Diversification Plan.

Overview of the Economic Diversification Fund

The Economic Diversification Fund is a funding initiative offered by the Queenstown Lakes District Council (QLDC) to support collaborative projects that contribute to a stronger, more diverse, and resilient local economy.

The fund is designed for businesses and organisations working together to create initiatives that go beyond normal business activities and deliver measurable benefits for the Queenstown Lakes District.

The program supports projects that:

Encourage the development of new industries.
Strengthen local economic resilience.
Support export-oriented businesses.
Remove barriers affecting business growth.
Improve efficiency through collaboration.
Create wider economic benefits for the community.

The fund aligns with the objectives of the Economic Diversification Plan, which focuses on building a sustainable and adaptable economy for the Queenstown Lakes region.

Purpose of the Economic Diversification Fund

The main purpose of the fund is to support innovative and collaborative projects that help diversify the local economy.

The program encourages businesses and organisations to work together to:

Develop new economic opportunities.
Test innovative ideas through pilot projects.
Explore new markets and industries.
Improve business capability.
Strengthen regional partnerships.
Create long-term economic value.

Funding is focused on projects that provide benefits beyond individual organisations and contribute to the broader Queenstown Lakes community.

What Types of Projects Does the Fund Support?

The Economic Diversification Fund supports a range of activities that contribute to economic development.

Eligible project activities may include:

Project Delivery Activities

Funding can support the implementation and delivery of collaborative economic development projects.

Examples include:

Delivering new initiatives.
Coordinating partnerships.
Implementing economic growth strategies.

Pilot Initiatives

The fund supports pilot projects that test new ideas, services, or business models.

Pilot initiatives may help organisations:

Test market opportunities.
Demonstrate innovation.
Evaluate project feasibility.
Develop future economic opportunities.

Feasibility and Scoping Work

Funding may support research and planning activities, including:

Feasibility studies.
Market research.
Project assessments.
Scoping reports.

These activities help organisations determine whether new initiatives can be successfully implemented.

Collaborative Business and Organisation Projects

The fund encourages partnerships between:

Local businesses.
Industry groups.
Community organisations.
Regional partners.
Other relevant organisations.

Collaboration must create measurable benefits for the Queenstown Lakes District.

Why the Economic Diversification Fund Matters

Economic diversification helps communities reduce dependence on a limited number of industries and create more stable economic opportunities.

The fund supports Queenstown Lakes by:

Encouraging innovation.
Supporting emerging industries.
Improving business resilience.
Creating new employment opportunities.
Strengthening local partnerships.
Supporting export-focused growth.

By investing in collaborative projects, the fund helps build a stronger and more adaptable regional economy.

Who Is Eligible to Apply?

Eligible applicants must meet specific partnership and location requirements.

Collaboration Requirements

Applicants must submit projects involving:

Two or more businesses or organisations working together.

At least one project partner must be based in the Queenstown Lakes District.

Regional, National, and International Partners

Projects may include partners from outside Queenstown Lakes, including:

Regional organisations.
National organisations.
International partners.

However, applicants must demonstrate clear benefits for the Queenstown Lakes community.

Funding Recipient Requirements

A Queenstown Lakes-based legal entity must:

Receive the funding.
Manage the project.
Be responsible for reporting requirements.

Partner Contribution Requirements

All project partners are expected to contribute resources to demonstrate commitment and collaboration.

Partner contributions may include:

Financial contributions.
Volunteer time.
Donated materials or services.
Professional expertise.
Facilities or equipment.
Access to networks and partnerships.

These contributions demonstrate shared responsibility for project success.

Project Duration and Timeline Requirements

Funded projects must follow specific completion timelines.

Key requirements include:

Projects may continue until 30 December 2027.
Projects are expected to be at least 50% completed by 30 June 2027.
Applicants must provide a short progress report by the required milestone date.

Projects should demonstrate clear progress and measurable outcomes throughout implementation.

How to Apply for the Economic Diversification Fund

Applicants should prepare a complete project application that explains the purpose, partnership structure, expected benefits, and implementation plan.

Step 1: Develop a Collaborative Project Proposal

Applicants should clearly explain:

Project objectives.
Why the project is needed.
How organisations will collaborate.
Expected economic benefits.

Step 2: Demonstrate Alignment With the Economic Diversification Plan

Applications should show how the project contributes to:

Economic growth.
Industry diversification.
Innovation.
Local business development.
Regional resilience.

Step 3: Provide a Project Delivery Plan

Applicants should include:

Project timeline.
Key activities.
Responsibilities of partners.
Implementation approach.
Measures of success.

Step 4: Submit a Detailed Budget

Applications must include:

Total project costs.
Funding requested.
Other funding sources.
Partner contributions.

Supporting documents may include:

Letters of support.
Evidence of previous projects.
Organisational achievements.
Partnership confirmation documents.

What Information Should Applicants Include?

A strong application should explain:

Project Purpose

Applicants should describe:

What the project aims to achieve.
Why the project is important.
How it addresses economic challenges.

Target Audience and Need

Applications should identify:

Who benefits from the project.
The problem or opportunity being addressed.
Evidence demonstrating demand or need.

Collaboration Approach

Applicants should explain:

Roles of each partner.
Shared resources.
Partnership benefits.
How collaboration improves outcomes.

Expected Outcomes

Applicants should include measurable results such as:

New business opportunities.
Economic growth outcomes.
Industry development.
Employment impacts.
Increased collaboration.

Activities and Costs That Are Not Funded

The Economic Diversification Fund does not support certain expenses.

Funding cannot be used for:

Normal business operating expenses.
Business-as-usual activities.
Costs incurred before signing a funding agreement.
Debt repayment.
Legal fees.
Religious activities.
Political activities.
Construction projects.
Capital asset purchases.
Rental expenses.
Alcohol purchases.

Applicants should ensure proposed expenses directly support eligible project activities.

Assessment Criteria

Applications will be reviewed by an independent assessment panel.

The panel will evaluate projects based on:

Alignment With Economic Diversification Goals

Projects should demonstrate clear connection with the Economic Diversification Plan.

Demonstrated Need

Applicants must explain:

The problem being addressed.
The target audience.
Why funding support is required.

Benefits Beyond Project Partners

Projects should create wider community and economic benefits beyond participating organisations.

Quality of Collaboration

Assessment will consider:

Strength of partnerships.
Shared responsibilities.
Contribution from each partner.

Project Viability

Applications should demonstrate:

Realistic timelines.
Effective planning.
Ability to deliver outcomes.

Measurable Outcomes

Projects should include clear success indicators and evaluation methods.

Funding Decision Process

The independent review panel may request additional information before making funding recommendations.

Successful applicants will enter into a formal funding agreement with QLDC.

The agreement will outline:

Funding conditions.
Reporting requirements.
Project responsibilities.
Payment arrangements.

Reporting Requirements for Successful Applicants

Funding recipients must provide reports throughout the project period.

Reporting requirements may include:

Progress Reports

Applicants must provide updates on:

Completed activities.
Project progress.
Challenges.
Next steps.

Final Report

A final report must include:

Project activities completed.
Total project costs.
Outcomes achieved.
Lessons learned.
Effectiveness of collaboration.

Recipients may also need to provide supporting evidence such as:

Financial records.
Project documents.
Outcome measurements.

Applicant Responsibilities and Requirements

Applicants must:

Have no outstanding debts with QLDC.
Have no unresolved reporting obligations from previous QLDC funding.
Follow all legal and regulatory requirements.
Provide accurate project information.
Declare other funding sources.
Disclose conflicts of interest.
Agree to due diligence and reference checks.
Acknowledge QLDC support in promotional materials.

Common Mistakes to Avoid When Applying

Submitting a Non-Collaborative Project

Projects must involve at least two businesses or organisations. Individual business activities are unlikely to qualify.

Failing to Show Local Benefits

Applicants should clearly explain how the project benefits the Queenstown Lakes District.

Applying for Normal Business Expenses

The fund does not support routine operational costs. Applications should focus on new initiatives, pilots, or collaborative economic development activities.

Weak Measurement Plans

Applicants should include clear indicators showing how project success will be measured.

Poor Partnership Explanation

Applications should clearly define partner roles, contributions, and responsibilities.

Frequently Asked Questions (FAQ)

What is the Economic Diversification Fund?

The Economic Diversification Fund is a QLDC funding program that supports collaborative projects designed to strengthen and diversify the Queenstown Lakes economy.

Who can apply for the fund?

Businesses and organisations can apply if they submit collaborative projects involving at least two partners, with at least one partner based in Queenstown Lakes.

What types of projects receive funding?

The fund supports project delivery, pilot initiatives, feasibility studies, scoping activities, and collaborative economic development projects.

Can organisations outside Queenstown Lakes participate?

Yes. Regional, national, and international partners can participate if the project provides clear benefits to the Queenstown Lakes District.

How long can funded projects run?

Projects may continue until 30 December 2027, but they should be at least 50% complete by 30 June 2027.

What costs are not covered by the fund?

The fund does not support business-as-usual expenses, debt repayment, legal fees, construction, capital purchases, rental costs, political or religious activities, or alcohol purchases.

How are applications assessed?

Applications are assessed based on economic alignment, project need, collaboration quality, project feasibility, local benefits, and measurable outcomes.

Conclusion

The Economic Diversification Fund by Queenstown Lakes District Council provides an opportunity for businesses and organisations to collaborate on projects that strengthen regional economic growth.

By supporting innovation, pilot initiatives, feasibility studies, and partnership-based solutions, the fund helps create a more diverse, resilient, and future-focused economy.

Projects that demonstrate strong collaboration, clear local benefits, measurable outcomes, and alignment with the Economic Diversification Plan will have the strongest potential to receive support.