Massive improvement for TBG investment application

Media Statement 6 April 2005

Massive improvement for TBG investment application

New Zealand companies applying for investment from Technology New Zealand say new on-line application forms have halved the time it takes to state their case for funding.

The new-look forms for those applying for Technology for Business Growth (TBG) investment simplify the process and reduce the previous document from 28 pages to just eight.

Business Manager, Matt Yallop, says the forms reduce the workload for companies and provide Technology New Zealand’s decision makers with information that has a sharper focus.

TBG investment is targeted towards projects that move companies towards high added-value, high-margin, technology based products, processes or services, providing up to 50 percent of eligible project costs.

“It’s an example of Technology New Zealand removing barriers and assisting companies to be more responsive to opportunities, and it shows we are constantly improving our own processes,” says Mr Yallop.

West Coast Orchids Director, Dr David Beck, says it took his company half the time to complete a recent application for TBG funding compared to an earlier application made using the old 28-page system.

Auckland technology company, Mega AS Consulting Ltd, also says the improved application system saves time and money.

“It makes it much clearer as to what information is required, is less repetitious and we found we were able to complete the application without relying on external consultants to help us,” says Mega AS Chief Executive, Arnnei Speiser.

Matt Yallop says Technology New Zealand has refined and polished the process following trials with selected companies and the new TBG application form is now available on-line at: www.technz.co.nz.

ENDS

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