Xero heads the tech queue as Govt puts $41m up for grabs

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 the Callaghan Innovation.

Introduced last year as part of changes designed to encourage more R&D by businesses in New Zealand, the grants provide 20% 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% 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.

“These are innovative companies producing world-leading, high-value products and high-quality jobs for New Zealanders,” says Steven Joyce, Science and Innovation Minister.

“They are all proven businesses that have committed to investing in R&D in this country.

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

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, including Xero.

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 with a total of $566 million is available over four years to encourage the development of a strong R&D ecosystem in New Zealand businesses.

Follow Us
on Google+
Sponsored

Hilton Auckland

As more and more conferences and events arrive in New Zealand, the opportunity to gain knowledge and build networks becomes better every day. Conferences can be hard work, and there’s nothing like retiring to a nice hotel room at the end of the day to relax and rest. But how do you turn a night in a hotel room into a lesson in building brand loyalty?   Read More →

Android App Review: Vimeo

NetGuide I review a lot of apps that, for one reason or another, aren’t that good. But it’s rare to find one that’s actually irredeemably broken. Video sharing website Vimeo’s app, however, is closer than it should be for an app with such obvious potential.   Read More →