Modra Hayes Case Study

Based in regional South Australia on the Yorke Peninsula, manufacturing and engineering company Modra Hayes has put a modern twist on transportable housing sold under its modpod™ brand.

Established by entrepreneur Simon Modra and fabrication expert Ashley Hayes in 2003 and later joined by Management Consultant John Noonan, after earlier designing hospitality industry fit outs, the Warooka based company now manufactures self contained accommodation from its unique hardwearing composite fibre.

With applications including mining, defence and emergency accommodation, Modra Hayes also values supporting the local community through creating employment opportunities in the surrounding area.

Research into revolutionary hybrid bio-composite materials is also underway with annual renewable crops being considered as part of the development of future products in the modpod range.

Key issue

Managing growth and raising venture capital

During a challenging South Australian economic climate, Modra Hayes was seeking advice on navigating and assessing relevant grant and funding streams.

As part of their growth strategy, they also wanted to approach investors to raise capital to grow their business in Australian and international markets.

The company was also seeking advice on the research and development process for their new bio-composite technology.

Key outcomes

Developing entrepreneurial business skills

Modra Hayes was successful in securing a SAIIF Federal Government Grant and raised venture capital investment to match this funding for construction of its new manufacturing premises which is expected to generate tens of regionally based jobs once fully operational.

Innovate SA business advisors have helped Modra Hayes with targeted, ongoing entrepreneurial support and assisted the company to access the Clever Green Innovation Grant awarded in 2011. The grant will be used for further research and development of their revolutionary hybrid bio-composite materials developed from annual renewable crops for use in future models of the modpod range.

The company directors also completed Innovate SA’s intensive five month Investment Attraction Course, giving them the tools and knowledge required to attract investors.

As part of their renewed growth strategy, Modra Hayes has also developed a franchise model for interstate and overseas expansion allowing them to mobilise modpod mass production facilities globally on a ‘needs basis.’

Feedback

“Innovate SA has helped us understand and apply for grants that we have successfully been awarded – having a huge impact on our business.

“The Investment Attraction Course has helped us understand the process of raising investment to help grow our company.