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

 

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    After King's Labour Snub: Māori Party And Kiingitanga To Work Together

    Māori Party Co-leaders Te Ururoa Flavell and Marama Fox met with Kiingitanga representatives in Wellington yesterday to discuss working together on key issues for the betterment of Māori. More>>

    ALSO:

    Waitangi Claim On Rehabilitation: The 'Justus' System For Māori Not Good Enough

    Closing statements at the Waitangi Tribunal case against Corrections called for immediate steps and a comprehensive review to address the high rate of Māori reoffending. More>>

    ALSO:

    Advice: PM Sets Rules For Ministers' Treatment Of Public Servants

    Prime Minister John Key has laid down the law about the way ministers and public servants should interact, saying ministers may not always like the advice they receive, but they must listen to it carefully, respectfully and professionally. More>>

    Gordon Campbell: On The Funding Changes In Special Needs Education, And Uber

    The plan to strip out the educational support for older “special needs” children in order to meet the existing shortfall in funding for special needs in early childhood education is so miserly and relentlessly stupid as to defy belief… More>>

    SPECIAL EDUCATION (& More):

    Online Learning Plans:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news