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

 


New growth grants to boost R&D in NZ

Hon Steven Joyce
Minister of Science & Innovation

12 May 2014

New growth grants to boost R&D in NZ

New Research and Development (R&D) Growth Grants worth more than $21 million over three years have been approved by Callaghan Innovation for another 15 high-tech companies, Science and Innovation Minister Steven Joyce announced today.

The latest Callaghan Innovation R&D Growth Grants have been approved for a wide range of companies from across the high-value manufacturing and services sector (HVMSS) who have shown a strong commitment to research and development conducted in New Zealand.

“Through these grants, which pay 20 per cent of each company’s R&D costs, high-value manufacturers and service providers will be able to innovate faster and grow further,” Mr Joyce says.

“That in turn will help lift New Zealand’s export revenues, job numbers, and the incomes of Kiwi families.”

The latest companies to be approved for R&D Growth Grants operate in a range of sectors including software solutions and services, transport management, manufacturing, natural health and wound-care, medical devices, diagnostic and monitoring, wireless power transfer, aluminium casting, environmental monitoring, digital publishing, visual communications, and electronic componentry.

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 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.

In order to apply for a Growth Grant, a business needs to commit to spend at least $300,000, and at least 1.5 per cent of revenue, a year on R&D occurring in New Zealand. Once approved, a company can claim for funding quarterly in arrears.

So far this year a total of 65 companies have been approved for R&D Growth Grants worth a total of around $220 million over three years.

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 available over four years to encourage R&D through Callaghan Innovation’s business R&D grant schemes.

The latest businesses to be approved for R&D growth Grants are:

• Advanced Management Systems Ltd
• Connexionz Ltd
• Howick Ltd
• Manuka Health New Zealand ltd
• Millar Instruments Ltd
• Nexus6 Ltd
• Pictor Ltd
• PowerbyProxi Limited
• Pulltron Composites Ltd
• Reckon Accountants Group Ltd
• Sika Technology Ltd
• Syft Technologies Ltd
• Trends Publishing International ltd
• Truescape
• Vynco Industries (NZ) Ltd

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Last Days Of Parliament: Slave Ships Bill To Pass

The House resumed at 9am and MPs agreed to add the third reading of the Fisheries (Foreign Charter Vessels and Other Matters) Amendment Bill to this morning’s business.

The bill requires all foreign owned fishing vessels to fly under a New Zealand flag from May 2016 and obey all New Zealand laws. This includes labour laws...

Last night Opposition MPs accused the Maori Party of blocking the passage of this bill into law in this Parliament, no members of the Maori Party were in the House to answer the accusations though they denied this in a press release. More>>

 

Parliament Today:

Novopayout: Government-Owned Company To Take Over School Payroll

After lengthy negotiations, the Ministry of Education and the existing school payroll provider, Talent2, have settled both on the amounts payable by Talent2 towards the costs of remediating the Novopay service and a new operating model for the school payroll system. More>>

ALSO:

Employment: Labour Will Raise Minimum Wage, Restore Work Rights

A Labour government will raise the minimum wage $2 an hour to $16.25 and restore work rights to ensure the benefits of economic growth are shared fairly by all New Zealanders, Labour Leader David Cunliffe says. More>>

ALSO:

Police: Crewe File Review Released

No new evidence has come to light implicating any specific person as being responsible for the murders of Jeannette and Harvey Crewe... The review identifies there is a distinct possibility that Exhibit 350 (the brass .22 cartridge case) may be fabricated evidence, and that if this is the case, that a member of Police would have been responsible. More>>

ALSO:

Werewolf Issue #49: Gordon Campbell Interviews Laila Harre

For 25 years, Labour and National have been in virtual agreement about the basics of economic policy, and differed mainly on how to go about managing its social consequences. More>>

ALSO:

Greens: Plan To Protect Our Maui’s Dolphins

1. Protect Maui’s from being killed in the sanctuary set up to protect them... 2. Extend fishing protections to the entire Maui’s range... 3. Help protect the livelihoods of affected fishers by supporting them to adopt dolphin-safe fishing methods. More>>

ALSO:

Gordon Campbell: On National’s Electorate Deals

For all the talk yesterday from Prime Minister John Key about National being transparent about its electorate deals in Epsom and Ohariu, that transparency is entirely front-loaded. More>>

ALSO:

Greens: Oil Drilling Face-Off With Labour

The key policy points in the Green Party’s plan to protect our beaches from oil spills are to:
1. Prohibit deep sea oil drilling; 2. Implement compulsory shipping lanes for coastal shipping; 3. Build Maritime New Zealand’s oil spill response capability; and 4. Introduce a stronger legal framework so that when accidents do happen, the New Zealand taxpayer does not have to pay for the clean-up. More>>

ALSO:


Nick Smith v Fish & Game:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news