Wenderholm, Auckland
Funding model and terms
Is Wing funding a grant?
No. Wing provides individually tailored loans, not grants. Funding is released against agreed milestones, interest applies, and repayment terms are negotiated for each project.
How much can I apply for?
Up to NZD $100,000. You may apply for any amount you require up to that maximum. Wing has up to NZD $100,000 per annum available for lending, so the maximum request is not an amount every successful applicant receives.
What interest will I pay?
Between 1% and 8%, depending on the risk of the project. Lower-risk projects are allocated lower interest; higher-risk projects are allocated higher interest. Interest accrues from day one on the amount drawn.
How is the loan repaid?
Payment schedules and terms are negotiated, for example during the project or after product launch. Repayment is either on an agreed schedule or through a pre-agreed option to purchase shares in the finished product. Revenue-sharing arrangements are also possible. Early repayment is allowed with no penalty.
Do I need to provide a personal guarantee?
No. Wing uses the project as collateral, defined as the end product of the research outcome and all the assets involved in the project.
What happens if the project fails?
If an approved project does not reach commercialisation, Wing will liquidate whatever is possible and write off the rest. Terms can be renegotiated if the original repayment schedule cannot be met, and loan restructuring, hardship provisions or extended terms are negotiable case by case. Wing has the right to use debt collectors in a default scenario.
Eligible projects and costs
What stage does my project need to be at?
Wing funds projects in the mature research stage that have a clear, demonstrable proof of concept, have had some technical validation conducted, and need a financial boost for end-stage research and production.
What can the funding be spent on?
End-stage research, market research, feasibility studies, prototype production and testing, and production line setup. Wages are funded only under fixed-period contracts with set start and end dates and key outcomes in the agreement. Marketing and sales costs beyond market research are eligible only once a definite marketable product is ready to be produced.
What is not funded?
Overheads and administrative costs including rent, utilities and accounting.
Which fields does Wing support?
Primary health, renewable energy and waste management. Projects outside those three fields are not funded.
Applicants and geography
Can an individual apply, or only a company?
Applicants can be individuals or companies.
Do I need to be in New Zealand?
Funding is ideally targeted towards applicants residing in New Zealand, but residing outside New Zealand will not be counted against an applicant.
Can I apply if I already have funding or investors?
Yes. Existing funding or investors are not a barrier.
Do I need professional qualifications?
No. Applicants are not required to hold professional qualifications, but must show they possess the necessary skill sets, initiative and drive to achieve their goals.
Documents and confidentiality
What documents do I need to attach?
CVs of the individuals or team, a business plan and IP status information are requested. Budget plans and timelines are within the application form itself.
Who owns the intellectual property?
You do. Successful applicants own the IP developed during the project. IP is counted as the security and is released to the owner once the loan is repaid in full.
How is my information kept confidential?
Wing follows industry and government standards and will also sign confidentiality agreements. The Director and the Research & Operations Manager have access to data. Personal details are not shared with advisors, co-investors or other adjacent parties. Unsuccessful application materials are held for ten years.
Review, interviews and timing
Is there a fee to apply?
No. There are no application fees.
How long does a decision take?
Typical decision timeframes from submission to outcome are six to eight weeks. There are three to four application rounds per year.
Will I be interviewed?
One or more online interviews will be conducted with applicants as part of the decision-making process.
How are applications assessed?
Against concept, market, viability and impact, scored to a rubric. Sector experts are brought in where the work demands it.
Outcomes and reapplication
Do unsuccessful applicants get feedback?
Yes. Applicants receive feedback even if the application was unsuccessful. That letter sets out the conditions to be met, so a later application can be better prepared and eligible for approval.
Can I apply again?
Yes. You may apply in a later application round even if you were rejected previously.
What are my reporting obligations if funded?
Successful applicants submit progress reports at pre-agreed intervals. Evidence is required to release each milestone payment. Conditions for missed milestones or late reporting are negotiated as part of the individual agreement.
Ready for the next stage?
A few questions. No fee, no commitment.
Lake Hāwea, Otago