Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Private Sector R&D In Good Shape

technology nz figures for new scheme- note regional and localised $ amount invested breakdown at bottom of story.

MAY 4 2001

Innovative businesses are getting a shot in the arm from the new Grants for Private Sector Research and Development scheme, with around $1.5m per month being invested in private sector R&D projects.

More than $10.5 million has been allocated to 179 companies in the seven months since the scheme was launched in September last year.

John Gibson, GPSRD investment manager, says he is pleased with the interest from businesses. “We’ve provided funding for R&D across a number of sectors and right throughout the country, which is pleasing to see,” he says.

The manufacturing sector is an early leader in taking up R&D funding through the GPSRD scheme. Manufacturing companies make up 31% of the allocation, at around $3.3 million, followed by agriculture, forestry and fishing ($2.4m, or 23%), information, electronics and communication ($2.3m, or 22%), and engineering at $1.7m, or 17%.

Businesses in the upper half of the North Island account for over 75% of the funding allocated so far.

The GPSRD scheme supplements other Technology New Zealand funding initiatives , which are also administered by the Foundation for Research, Science and Technology. GPSRD is intended to encourage businesses with a turnover of less than $50m to make a stronger commitment to investing in R&D. Support is limited to a third of a business’s increased investment in R&D, to a maximum of $100,000.

Mr Gibson says the scheme is designed to help technical and technological risk takers. “Companies facing other types of risk already have access to investors and sources of funds whereas technology risk takers often have only their own resources to rely upon.

”To be successful, applicants must clearly identify the ‘technology gap’ they are addressing. There needs to be a clearly evident technical risk or uncertainty, a measurable outcome, and a methodical resolution of the uncertainty.”

GPSRD is the first of the Technology New Zealand schemes to operate exclusively via the Internet, with initial registration through its website, www.technz.co.nz.

-ends-

* For more information:
John Gibson, Foundation for Research, Science and Technology, 04 917 7863
www.technz.co.nz

NOTES FOR EDITORS:

Localised/regional breakdown as follows:
(Rounded figs at end April)

Auckland $4.86 million
Central North Island $2.99 million
Southern North Island $1.15 million
Canterbury $0.74 million
Other South Island $0.77 million

And, in more detail:
Auckland $2,607 K
Manukau City $1,620 K
North Shore $400 K
Waitakere City $231 K
Waikato $1,480 K
Western Bay of Plenty $476 K
Poverty Bay, East Coast $24 K
Taranaki $757 K
Hawke Bay $257 K
Manawatu $565 K
Wellington $585 K
Canterbury, Westland $738 K
Nelson and Marlborough $136 K
South Canterbury $291 K
Otago $234 K
Southland $112 K


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news