Here is another answer to recent observers who have been saying there's little to set PFT apart from the TFL's, the Maggie Beers et al.
This has Director Fleming's fingerprints all over it in my opinion, (well done). Pure gold. Worth every cent of of his consultancy fee.
But what I really, really like about the Fund is that it now sets up a vessel, a vehicle for potential grant monies from the Fed Gov't who recently announced funding assistance to be given to the food sector amongst others. Such grants could be applied for on the basis they can be shown to be kept separate from the daily ongoings of PFT operations, and duly accounted for transparently according to the criteria under which they are committed.
Furthermore I take it from the announcement that it will be seeking investment into the fund from other sources. Interested to see whether this might include private individuals who may or may not already be shareholders, state and local governent bodies, or even overseas entities...in particular from areas where PFT already has or is about to establish markets.
As a number of the Board, (including Fleming), are experienced in the area I wouldn't mind a punt that the Incubation Fund could be open to interest from Australian Investment Funds (here's that network theme again, connectedness).
Surfer's having a coffee as we speak, on his phone to members of the Old Boy's Club about sinking some capital into it!!!!!
*Additionally
what this Facility makes PFT is a target, the 'go to' body for aspiring entrepreneurs. In years to come the 'Group' as it is fast becoming could come to be viewed as a father figure to the industry in Tasmania, (if not The Godfather -
more material for Key Sole graphics), even providing oversight and input into registered training courses etc (i.e.TAFE).
Did I mention before that I really, really like this? Well it's not all, not done yet.
'Sludge' Cooper mentions the
IP that may come with one of these start-ups. Now
that's smart. These youngsters today, or even the seasoned foodies who have decided 15 years learning their profession / trade away overseas is enough, can return home can present their idea to PFT for evaluation and assessment, with a variety of options of funding, developing and marketing. If they have a unique, superior way of mixing or refining their product, extracting a revolutionaly bush compound, enhancing the oyster size etc, PFT is ensuring first dibs in a share if not outright ownership.
There is so much scale to be achieved in this industry of course, innovative improvements are not
only potentially with the product, but with its presentation and packaging, transportation, storage, and marketing.
Overall this step is reinforcement of management's all-encompassing vision, cognisant of fast moving and still evolving societal trends, and the abounding talent across the island.
As trading today shows, not every day is 'blue sky', however for PFT managed well the sky is the limit.
(20min delay)
