Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Extra $59m in R&D grants to grow firms faster


Hon Steven Joyce

Minister of Science & Innovation
25 February 2014 Media Statement
Extra $59m in R&D grants to grow firms faster

Research & Development Growth Grants worth $59 million over three years have been awarded to 19 more high tech New Zealand businesses by Callaghan Innovation, Science and Innovation Minister Steven Joyce announced today.

R&D Growth Grants were introduced last year as part of changes to R&D funding designed to encourage more research and development to be undertaken by businesses in New Zealand. They provide up to $5 million co-funding a year to mid-sized and large New Zealand-based companies that are experienced in doing R&D.

“These companies – who have already shown a significant commitment to R&D - have the potential to grow further and faster through the innovation this support will foster,” Mr Joyce says.

“This new funding follows last month’s announcement of more than $140 million over three years for the first 31 companies under the new grants scheme. So far $200 million has been awarded to 50 high tech companies.”

The Growth Grants, an expansion of the previous Technology Development Grants, are aimed at encouraging R&D investment in businesses that show a commitment to R&D.

They provide 20 per cent public co-funding for qualifying firms’ eligible R&D expenditure, with an expanded cap of $5 million per annum - up from the previous scheme’s $2.4 million. After two years of funding, businesses can be granted a further two-year extension of funding.

To qualify for a Growth Grant, a business needs to commit to spend at least $300,000, and at least 1.5 per cent of revenue, on R&D occurring in New Zealand. R&D Project Grants are available for smaller companies and those that are new to research and development, while incubator support programmes assist start-up businesses.

The new Callaghan Innovation grants - R&D Growth Grants, R&D Project Grants, and R&D Students Grants – were announced in Budget 2013. A total of $566 million is now available over four years ($141.5 million a year) to encourage innovation through Callaghan Innovation’s business research and development grant schemes.

The latest companies to be awarded R&D Growth Grants are:

• Apex Valves Limited

• Barker Fruit Processors Limited

• Compac Sorting Equipment Limited

• Fiserv New Zealand Limited

• FlexiDrill Construction Limited

• Gameloft New Zealand Limited

• Gentrack Group Limited

• Imarda NZ Limited

• International Telematics Limited

• Mea Mobile Limited

• Pacific Edge Limited

• Phil & Teds Most Excellent Buggy Company Limited

• SAP New Zealand Limited

• The Simpl Group Limited

• Temperzone Limited

• Tasman Tanning Company Limited

• TracMap NZ Limited

• Vend Limited

• Weta Digital Limited

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Parliament Today: State Opening Of Parliament

The House sits at 10.30am today before MPs are summoned to hear the Speech from the Throne in the Legislative Council Chamber.

The speech delivered by the Governor-General on the Government’s behalf outlines its priorities for this Parliament.

After this MPs will return to the House for the presentation of petitions and papers and the introduction of any bills.

The Government has five notices of motion on the Order Paper which can be debated. These relate to relating to the appointment of the Deputy Speaker, Assistant Speakers, the reinstatement of business in a carryover motion and one on “Entities to be deemed public organisations”. More>>

 

Tertiary Education: Students Doing It Tough As Fees Rise Again

The Government is making it increasingly difficult for Kiwis to gain tertiary education as fees continue to rise and access to student support becomes even more restricted, Labour’s Tertiary Education spokesperson Chris Hipkins says. More>>

ALSO:

Housing, Iraq: PM Press Conference – 20 October 2014

Prime Minister John Key met with press today to discuss:
• Housing prices and redevelopment in Auckland
• Discussions with Tony Abbott on the governmental response to ISIS, and New Zealand’s election to the UN Security Council More>>

ALSO:

Labour: Review Team Named, Leadership Campaign Starts

Labour’s New Zealand Council has appointed Bryan Gould as Convenor of its post-General Election Review. He will be joined on the Review Team by Hon Margaret Wilson, Stacey Morrison and Brian Corban.

ALSO:


Roy Morgan Poll: National Slips, Labour Hits Lows

The first New Zealand Roy Morgan Poll since the NZ Election shows National 43.5% (down 3.54% since the September 20 Election). This isn’t unusual, National support has dropped after each of John Key’s Election victories... However, support for the main opposition Labour Party has crashed to 22.5% (down 2.63% and the lowest support for Labour since the 1914 NZ Election as United Labour). More>>

ALSO:

In On First Round: New Zealand Wins Security Council Seat

Prime Minister John Key has welcomed New Zealand securing a place on the United Nations Security Council for the 2015-16 term. More>>

ALSO:

TPP Leak: Intellectual Property Text Confirms Risk - Jane Kelsey

The US is continuing its assault on generic medicines through numerous proposed changes to patent laws. ‘These are bound to impact on Pharmac if they are accepted’, according to Professor Kelsey... Copyright is another area of ongoing sensitivity... More>>

ALSO:

RMA: Smith Plans Reform To Ease Urban Development

Newly appointed Environment Minister Nick Smith has announced Resource Management Act reform to foster urban development, where high land prices and expensive resource consents are blocking efforts to provide affordable housing. More>>>

ALSO:

Gordon Campbell: On New Zealand getting involved (again) in other people's wars

Apparently, the Key government is still pondering how New Zealand will contribute to the fight against Islamic State. Long may it ponder, given the lack of consensus among our allies as to how to fight IS, where to fight it (Syria, Iraq, or both?) and with whose ground troops, pray tell? More>>

ALSO:

Gordon Campbell: On child poverty, and David Shearer’s latest outburst

The politicisation of (a) the public service and (b) the operations of the Official Information Act have been highlighted by the policy advice package on child poverty that RNZ’s resolute political editor Brent Edwards has finally prised out of the Ministry of Social Development. More>>

ALSO:

Gordon Campbell: On the government’s review of security laws

So the Key government is about to launch a four week review of the ability of our existing legislation to deal with “suspected and returning foreign terrorist fighters, and other violent extremists.”

According to its terms of reference, the review will consider whether the SIS, GCSB and Police are sufficiently able right now to (a) investigate and monitor suspected and returning foreign terrorist fighters… More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news