Seedlab Tasmania, a business and marketing support service for food, drink and agricultural start-ups, is on the hunt to secure future funding after the closure of the federal government's Incubator Support Initiative.
The service was launched in early 2020 and has since helped 105 start up businesses in regional Tasmania, including 15 per cent of start-ups from the North West.
It has secured $4 million from Woolworths for the new Seedlab Australia, that will adopt what Seedlab Tasmania did on a national scale, with a view to developing products to be sold in Woolworths stores.
Seedlab Tasmania founder Hazel MacTavish-West said she was currently working to secure state, federal and sponsorship funding for its Tasmanian organisation to continue into the future.
She said the funding search was not at crisis point, but she would be sad if it reached that point.
"If we put together an investment of $1.8 million, we reckon that we could turn that into $43 million turnover for Tassie within the first four years," Dr MacTavish-West said.
"I'm working like a demon to access funding. Seedlab Tasmania is the passion project for everybody, it is the sense of community and being able to look people in the eye, to help them pitch their products and grow their business.
"I'm hoping that the money is going to be available ... but nothing is carved in stone yet."
Businesses have said completing Seedlab Tasmania's bootcamp resulted in a $25,000 growth to their business, while program participants Red Cow Organics secured a major deal with local Woolworths stores worth $1 million to their business, even before their products enter mainland stores next month.
Program participant, Sanyou founder Ian Spykes, said Seedlab helped him move from a product-focus to a whole-of-business focus.
He said this included developing a brand story, target market and everything else needed to run a business, such as funding, accounting and running processes.
"I was focused on the spirit in the bottle. At the start I thought the hardest part was making the spirit, but that is just 30 per cent of the business and the rest of the 70 per cent is what Seedlab really helped me to focus on," he said.
Meanwhile, Dr MacTavish-West said up to seven Tasmanian businesses were accepted in the first round of Seedlab Australia.
The Woolworths' model will assist artisan foods, and health, wellness and sustainable products
"There will always be Tassie businesses as part of that program, specifically targeting products that are of interest to Woolworths. It won't be covering agri-tourism or cellar doors, but some of the more lifestyle businesses we have been able to support in Seedlab Tasmania."
Initial funding for Seedlab was $846,000 including from federal government and in-kind support.
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