Wintec business incubator Soda Inc. has entered this year's 2018 Westpac Waikato Business Awards for its work helping local startups grow.

The company has entered the ‘Not for Profit' category in the Awards, which will be held in November. It's not the first time the company has entered  – in 2012, the company won the Wintec Special Awards for Services to Start-up Companies.

“We're thrilled to be named alongside other top Waikato businesses who're making valuable contributions to Waikato's business community, and look forward to celebrating our success and accomplishments together,” comments Soda Inc's chief executive Erin Wansbrough.

Soda Inc. helps founders and entrepreneurs form and grow their startup – but Soda does so with a unique business model. Soda Inc. takes a 5% stake in each startup with the goal of supporting a future business success. The 5% stake could also support the next generation of entrepreneurs to come through the programme and receive help.

“Founders who have received invaluable support on their journey through a Soda programme love knowing their success will one day be able to pay for another entrepreneur needing support,” says Wansbrough.

She says that the company provides programmes that are 100% founder-focused. Each programme is built around the needs of the startup and the people behind it.

“Soda is about solving problems and finding solutions to real problems for our clients. We talk to hundreds of entrepreneurs with varying needs each year and intensively back 15 to 20 of them.

Soda also provides the best people to work with each startup.

“We are a connected organisation who shoulder tap the right people and pay them to work with our founders. We want participants to leave the programme with a powerful network and the knowledge of what to do beyond the life of Soda,” Wansbrough explains.

Soda Inc. entered The Westpac Waikato Business Not-for-Profit Award this year, which recognises excellence in organisations with an annual turnover up to and including $1 million per year that apply commercial strategies to maximise improvements in community wellbeing, reinvesting profit or surplus from trade to achieve their social mission.

The 2018 Waikato Business Awards includes a number of categories. They include: Not-for-Profit; Micro Business; Service Excellence; Business Growth; Marketing; Innovation; Strategy, Planning - Governance; Community Contribution; Global Operator; Emerging Leader; CEO; and Supreme Winner.

The category winners and the announcement of Westpac Supreme Business of the Year will be announced at a gala dinner in Hamilton on November 2 at Claudelands Event Centre.