Parliament

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

 

New growth grants to boost R&D in NZ

New growth grants to boost R&D in NZ


Research and Development (R&D) Growth Grants expected to be worth more than $41m over three years have been approved for 23 high tech companies by Callaghan Innovation, Science and Innovation Minister Steven Joyce announced today.

“These are innovative companies producing world-leading, high-value products and high-quality jobs for New Zealanders. They are all proven businesses that have committed to investing in R&D in this country,” Mr Joyce says.

“The Growth Grants will help them increase that investment, which will drive their growth and increase exports.”

R&D Growth Grants were introduced last year as part of changes designed to encourage more R&D 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 a year - up from the previous scheme’s $2.4 million.

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, a year on R&D occurring in New Zealand. The Grants are for three years, but after two years, businesses can be granted a further two-year extension of funding.

The latest companies to be approved for R&D Growth Grants are involved in a wide range of products, from accounting software, robotic walking devices to high tech trampolines. They are:

· ARANZ Healthcare

· Argenta

· AuCom Electronics

· Bayer New Zealand

· BBC Technology

· Best Bars

· Booktrack Holdings Limited

· Brand Developers Limited

· Caldera Health

· Comrad Medical Systems

· Core Builders Composites

· EstarOnline

· Focus Genetics Management Limited

· FoodCap International Limited

· Integrated Control Technology

· Rex Bionics

· Spark Dental Technology Limited

· Springfree New Zealand

· Tekron International

· TracPlus Global

· Wellnomics Ltd

· Xero

· Zeacom

In total 88 companies have now been approved for R&D Growth Grants estimated to be worth about $262 million (excluding GST) over three years.

Callaghan Innovation also operates R&D Project grants for smaller companies and those that are new to Research and Development, and R&D Student grants to give graduates the opportunity to work in innovative companies. Since February last year, Callaghan Innovation has approved funding across all three programmes for 702 different hi-tech companies.

The Callaghan Innovation Grants system was announced in Budget 2013, replacing and expanding an earlier programme. A total of $566 million is available over four years to encourage the development of a strong R&D ecosystem in New Zealand businesses.

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Whether Trump Is Likely To Be Impeached

'Tis the season to be jolly, and for wrapping a plea bargain under the Christmas tree for all ye formerly merry, Trump-connected gentlemen.

Reportedly, Michael Cohen, Paul Manafort and Michael Flynn have all been co-operating with the probe led by special counsel Robert Mueller.

Flynn has done 19 interviews so far. So what chance has the Trump presidency got of surviving, all things considered? More>>

 
 

Dealing Crackdown, Addiction Support: Government Action On Synthetics

The NZ Drug Foundation has welcomed the Government’s response to synthetic drug deaths. The response strikes a balance between giving law enforcement the tools they need to target criminal networks and changing drug law to make it easier for people to access help when they need it. More>>

ALSO:

Strategy Committee Unanimous: Wellington To Forge Ahead With Convention Centre

The three-storey Cable Street building, with around 18,000-square metres of floor space, will comfortably be able to host 1500 people for conventions. It includes a 1651sq m exhibition area that will attract international exhibitions too big for nearby Te Papa and provide an always-changing visitor attraction. More>>

ALSO:

Surveying The Surveillance: First IGIS Review Of Warrants Under New Act

The report sets out the Inspector-General’s interpretation of the new warrant provisions under the ISA and her expectations of the GCSB and NZSIS when they prepare warrant applications. More>>

SSC: 2018 Public Service Workforce Data Published

State Services Commissioner Peter Hughes has published the 2018 Our People, Public Service Workforce Data , which shows the Public Service is making significant progress in important areas. More>>

ALSO:

Sinking Cap: Auctions, Permanent Forests, Added To ETS

The move to auctions, signalled in an August consultation paper, will help put a cap on the number of emission units available over time. Annual announcements, looking forward five years, will help provide certainty for scheme participants, she said. More>>

ALSO:

Joint Select Committee Report: Achieving Smokefree 2025

In a historic first for select committees, the Māori Affairs Committee and the Health Committee presented their joint report on achieving the Smokefree 2025 goal to the House on Tuesday, 11 December 2018. More>>

"Shared Interests And Democratic Values": Peters To Visit USA

Deputy Prime Minister and Foreign Affairs Minister Winston Peters will travel to Washington D.C. for talks with US Secretary of State Michael R. Pompeo and other senior members of the US Administration. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels