MEDIA RELEASE
11 August 2004

Funding will spark new research at Flint Technology

Technology New Zealand, in partnership with Auckland City, has approved a grant of $28,638 to Flint Technology Company Limited, under the Grants for Private Sector Research and Development scheme (GPSRD).

This is the first research funding granted to a company that has been advised by Auckland City’s economic development group under the scheme.

As an agent for Technology New Zealand's GPSRD, Auckland City helps businesses evaluate a project’s eligibility for the Technology New Zealand funding scheme, prepare and submit an application and manage the reporting process over the life of the project. These support services are offered to businesses free of charge.

“We aim to support the growth of employment, skills and capital in local businesses by working across industry and Central Government to support sustainable economic development in Auckland city,” said Councillor Mark Donnelly, chairperson of Auckland City’s Strategy and Governance Committee.

“Auckland City recognises that the success of companies like Flint Technology are essential to making Auckland one of the world’s most vibrant and dynamic business and cultural centres.

“Auckland City is pleased to be able to help local businesses expand through our knowledge of business and the processes of central government agencies like Technology New Zealand,” said Mr Donnelly.

“We congratulate Flint Technology on their grant, and look forward to their continuing growth and success as a ground-breaking Auckland business.”

Flint Technology is a plastics manufacturer and will use the grant to develop their current plastic colouring technology.

About GPSRD
The GPSRD scheme aims to boost private investment into technical research and development by reimbursing one third of research project expenditure.

To be eligible for the scheme the research and development project must aim to produce a new or enhanced product or service which has a waiting market. The company applying for funding must be GST registered.

Businesses interested in assistance from Auckland City to apply for the Technology New Zealand funding scheme should contact Lyn Hoben, technology and knowledge industries manager at Auckland City Council on (09) 373 6186.

Ends

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