Focus area

'Quality homes within reach’ is about creating opportunities for housing to positively contribute to individual, whānau, and societal wellbeing, through improved equity, accessibility and affordability, and reduced instability.

There are many different ways to approach the challenge of bringing quality homes within reach of more New Zealanders. Possibilities include repurposing existing buildings, redefining our relationship with ownership, removing barriers and creating conditions that enable innovation to thrive. Indigenous and historical models, as well as new technologies, can also inspire solutions for Aotearoa New Zealand’s housing crisis.

While innovation in how we build is critical, the focus needs to be on how we live and the system structures that support or inhibit that. To get quality housing in reach that also meets the planet’s needs and encourages social thriving, we need to re-evaluate our societal expectations and beliefs around housing and home ownership. - ThinkPlace 2022.

We have up to $1 million NZD funding available to support the best propositions.

Examples

We are looking for applicants who have ideas that will address one or more of the many barriers and opportunities that will support the mission to bring quality homes within reach of more New Zealanders.

This could take many forms:

You might be championing systemic improvements to the legislative or regulatory landscape that shapes housing in New Zealand.
You might be championing quality housing outcomes for Māori and Pasifika communities
You might be developing innovative ways for people to enter the property market that reduce barriers to entry such as progressive ownership, lending or renting models.
You might be able to solve a challenge/problem which can then be replicated elsewhere – no matter where that change is needed or how small it might be.
You might have a ‘quick win’ idea that is simple and implementable – not reliant on new laws or complicated technology.
You might have an already proven solution that could be adopted, shared, or scaled-up to address a broader problem for others.

Need support with your application or have questions?

Please email iaas@westpac.co.nz

What's up for grabs

We have up to $1 Million NZD funding available to support the best propositions. We are ideally looking to fund multiple recipients within this amount (for guidance, n x $100k-250k) - but this shouldn’t stop you from applying if you think you have the ‘one idea to rule them all’.

We have commissioned a piece of research from the team at ThinkPlace to provide context, suggested focus areas and key questions relating to 'Bringing quality homes within reach of more New Zealanders.' This is included in the application pack and is also available below.

For ideas that pass through the initial assessment gate, we’ll work closely with you to help you further develop your thinking to bring your idea to life.

If you’re not quite sure how your idea might fit into a funding round, please get in touch!

Quality homes research report

Process & timing

9 August 2022

Applications open

Applications are now closed

21 October 2022

Applications close

Applications must be received by 5pm on the deadline date. Applications received after this time will only be accepted if you have agreement in writing from the Innovation Fund prior to the deadline time and date.

w/c 19 December 2022

Gate 1 - Shortlisted applicants notified & next steps communicated

Candidates that have been shortlisted, and those who have been unsuccessful in their application will be notified by Fund Management. Shortlisted candidates will receive details regarding the Gate 2 requirements. Shortlisted candidates will be assigned a liaison who provides coaching support. Each shortlisted candidate will be required to develop a 10-page or less investment proposal and a 5-minute pitch video submission.

1 March 2023

Shortlisted candidates submit final investment proposal and pitch deadline

All shortlisted candidates submit their 10-page or less investment proposal accompanied by a 5-minute pitch video. All proposals and pitch videos must be submitted by the deadline, unless otherwise agreed in writing with the Innovation Fund, prior to the deadline time and date.

w/c 27 March 2023

Gate 2 - Successful and unsuccessful shortlisted candidates notified

Funding decisions for the intake are announced and the Fund Management team will contact you to let you know of the outcome.

Key criteria

Each application is assessed on its merits, however, there are some key criteria you need to consider:

Clear articulation of the problem you are trying to solve and the solution you are proposing
Demonstrable evidence articulating how the solution will 'shift the dial'
Clear articulation of how your solution could improve quality housing outcomes for Māori and Pasifika communities