Parliament

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

 

Government Targets Innovation-led Growth To Turbo-charge Business Potential

· Two new grants launched to boost cutting-edge innovation

· The ‘New to R&D Grant’ will support around 400 businesses over four years

· The ‘Ārohia - Innovation Trailblazer Grant’ will support around 100 businesses over its first four years.

· Around 200 companies annually will be supported through a seed version of the Innovation Trailblazer Grant.

· $250 million investment over the next four years

Hundreds of New Zealand companies are set to benefit from the launch of two new grants aimed at fuelling firms that want to innovate, Research, Science and Innovation Minister Megan Woods says.

“This $250 million investment over the next four years is a sign of my commitment to some of New Zealand’s brightest businesses, and to turning our great ideas into building a higher-value, more sustainable economy,” says Megan Woods.

“I want to turbo-charge all the tremendous potential I see in our business ecosystem, by introducing grants to help out with the high costs and steep learning curves associated with R&D, and to provide an on-ramp to our existing R&D Tax Incentive.

“I also want to provide extra encouragement to businesses that are performing innovation that is new to the world. Now with a combination of the R&D Tax Incentive, and the new grants programmes, we will have a system of support that is much more representative of the full gamut of business activity we want to stimulate.

“As we continue our economic recovery from the challenges presented by COVID-19, we need to continue to foster and invest in innovation which we know creates huge value for society and is vital for addressing our social and global challenges such as tackling high emissions. Returns on fundamental research and development can take decades to materialise so it is right we take a long-term view.

“The R&D Tax Incentive now has over 1,500 businesses enrolled, with over $118 million of RDTI credits approved. This has supported private sector investment in R&D of over $788 million so far. This new investment is intended to further supplement private investment by funding innovative activities that might not happen – or happen to the optimal extent – without government support.

“We know innovation is the lifeblood of business. It leads to the creation of new higher-wage jobs and it helps our firms compete more effectively in the global marketplace, bringing down costs by improving efficiency and creating exciting new products and services. We need more unicorns,” Megan Woods said.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On National’s Ongoing Problems With Abortion


Despite Christopher Luxon’s assurances to the contrary, there is no such thing as “settled law” in New Zealand. Apart from the six provisions that are constitutionally entrenched, legislation can always be amended or overturned by a simple majority vote within our single chamber of Parliament. Luxon’s repeated use of the term “settled law” has been particularly tone deaf, given that several of the US Supreme Court justices used that very same term during their confirmation hearings...
More>>



 
 

Government: Joint Press Release With President Of The Govt Of Spain Pedro Sánchez & PM Of New Zealand
On June 28, 2022, a meeting took place in Madrid between the President of the Government of the Kingdom of Spain, Pedro Sánchez Pérez-Castejón, and the Prime Minister of New Zealand, Jacinda Ardern, who was visiting Spain... More>>


Winston Peters: Issues Judicial Review Proceedings

Winston Peters has issued judicial review proceedings against Speaker of the House the Rt Honourable Trevor Mallard, challenging Mr Mallard’s issue of a trespass warning against Mr Peters on 28 April 2022, which the Speaker then withdrew on 4 May 2022... More>>

Government: Electoral Changes Will Bring Greater Transparency For Voters

Changes to electoral law announced by Justice Minister Kiri Allan today aim to support participation in parliamentary elections, and improve public trust and confidence in New Zealand’s electoral system... More>>



Government: Wellington’s Rapid Transit Option Progresses To Next Stage
The Government is progressing a preferred option for LGWM which will see Wellington’s transport links strengthened with light rail from Wellington Station to Island Bay... More>>


NZ Republic: Charles CHOGM Speech Green Light For Change
“Prince Charles had made it clear in his speech to the Commonwealth Heads of Government Meeting (CHOGM) in Rwanda today that even the Royal family think it’s time for change” said Lewis Holden, campaign chair of New Zealand Republic... More>>


National: Goodfellow To Retire As Party President
Peter Goodfellow today announced he will not seek re-election as President of the National Party at its Annual Conference. Mr Goodfellow will remain as a director on the board for one final term to assist in the transition... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels