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Vision secures increased R & D funding contract

PRESS RELEASE 21 August 2008


Vision secures increased R & D funding contract

More business owners are to benefit now that Vision Manawatu has secured a regional technology partnership with the Foundation for Research, Science and Technology (FoRST).

Vision Manawatu is one of only nine regional economic development agencies that has been appointed regional partners by FoRST, a division of the Ministry of Research Science and Technology, according to Vision’s boss Andrew Powrie.

“This is a great achievement and reflects more than $7.7million in funding to businesses we have administered across the region since 2000,” he said.

“More Manawatu businesses have taken up the government funding than any other provincial region in New Zealand and is ahead of Waikato, Wellington and Otago. This reflects the high level of our region’s manufacturing businesses’ innovation, astute business people and the skilled specialists available here.”

The new regional responsibility has expanded to include businesses from Horowhenua to Ruapehu districts and funding up to $30,000 could be accessed, up from $5,000 grants.

“Becoming a regional technology partner with FoRST will enable us to now access larger grants up to $30,000 for individual businesses, says Richard Forgie, Vision Manawatu’s Growth and Investment Director.

“Where companies qualify, the funds would assist innovators to obtain expertise from specialist organisations to overcome technological and intellectual property challenges faced in new product development.”

Preference is given to companies that have either grown strongly over the last few years or that have plans to grow rapidly in the future or have an export product for development.

For more information contact Richard[at]visionmanawatu.org.nz


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