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Govt $0.93m R&D grant boosts Simcro’s growth
Govt $0.93m R&D grant boosts Simcro’s growth
HAMILTON, NEW ZEALAND: Innovative agritech company, Simcro, intends to use a $930,000 Technology Development Grant from the Government to accelerate the company’s growth and diversify into new markets.
Hamilton-based Simcro is a world-leader in providing customised animal health delivery solutions, such as safety injectors and drench guns, to the pharmaceutical industry.
“ We will hire engineers and devote more time to meeting the innovation requests of our customers. We continue to grow our research and development spend in response to enquiries from our multinational pharmaceutical customers for solutions in our traditional livestock markets, and, increasingly, in the companion animal space,” explains Simcro chief executive Will Rouse.
Simcro is one of 26 businesses to receive new R&D grants, which were announced by the Minister of Research, Science and Technology, Dr Wayne Mapp last week. The grants are designed to support firms with a good track record and investment in R&D and to encourage further innovation and exports.
Simcro’s success in being awarded the grant follows on from the company’s recent awards in international product design contests and the top award for Best Use of R&D in International Business in the prestigious New Zealand International Business Awards 2010.
Earlier this month the company was awarded a coveted International Forum (IF) 2011 product design award from Germany for its revolutionary animal vaccine safety injector, Sekurus TM, launched earlier this year.
Rouse says his company is committed to heavy investment in new product development as it enables Simcro to compete strongly in the international market.
“We have a strategy of developing capability and delivering on some 70 projects we have underway for international pharmaceutical companies currently. The R&D grant will enable us to accelerate our growth.”
The Technology Development Grant is awarded for three years after which a business has to reapply for a grant alongside other businesses.
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