Coin South launches to help start-up businesses

Business start-ups and investors alike may soon be able to work together easier in Southland, with Coin South launching next month.

Coin South is a collaborative network that will support and provide new businesses with experts, skills and the funding they need to become successful.

Invest South's executive officer Prue Halstead said Southland was lacking proper support networks for start-ups to be able to get their ideas across the line, so this would provide people with an avenue. 

"Funding is a big issue for early businesses so it's about joining the dots, making it easily accessible and building up connections and support." 

Halstead said it was going to be a game changer to Southland.

"It will help people to want to give it a go and see that it is feasible and not scary to run a sustainable business." 

Coin South's establishment comes from the support and financial assistance of its Strategic Partners – Community Trust South, Environment Southland, the Southern Institute of Technology, the Southland Chamber of Commerce and Te Rūnanga o Ngāi Tahu.

It is a not-for-profit incorporated society with both corporate and individual members, supported by a management team.

Miriam Ereckson has had several start-ups and was excited to work with Coin South in the future.

"It's going to be really good for the community to have somewhere to go."

One of Ereckson's ideas that she hopes to develop involved replacing the Insinkerator.

"Instead of the food waste going down the drain it goes into a unit that you can either use for your own compost or it can go into a biogas digestor.

"Thirty per cent of landfill in Invercargill is food waste, so I want to turn this waste into electricity." 

Halstead said she would love in the first year to have at least 10 to 12 businesses engaged with Coin South - "to go from start-up to scale up". 

Coin South will start operating in August in Invercargill.