Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

Innovation funding a boost to competitiveness

Innovation funding a boost to competitiveness

Incentives for firms to invest in innovation are welcome, says BusinessNZ.

An $80 million increase in funding for Growth Grants announced today will provide more incentives for companies to increase their research and development, BusinessNZ Chief Executive Phil O’Reilly said.

The Growth Grants, administered by Callaghan Innovation, are allocated to firms that spend at least $300,000 per year, and 1.5 percent of their revenue on R&D for two years.

Mr O’Reilly said the funding was well-targeted.

“Given budgetary constraints faced by the Government, it is positive that the choice has been made to allocate funding where it can be most effective - in prompting innovation by New Zealand companies.

“Innovation in goods and services is the best way for New Zealand firms to compete in world markets, and to counteract the effects on exporters of the strong dollar.

“Funding premised on R&D investment by firms themselves is sound policy which will be welcomed by the many New Zealand firms seeking to innovate and upgrade.”

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.