Is your business an experienced R&D performer? This three year grant will help you increase your R&D investment.
How can the grant help me?
The Growth Grant is designed to help you:
- Add scale to your R&D investment for greater market impact
- Be flexible by allowing you to adapt to where you want to take your R&D programme, outside the constraints of traditional R&D grant criteria
- Continue to grow your investment in R&D for maximum return
How does it work?
Your business will:
- Receive 20% of your eligible R&D expenditure, up to $5m per annum
- Receive a two year extension after three years, subject to having met annual review requirements.
Who can apply?
To apply for a Growth Grant, your business must be one of the following:
- Registered under the Companies Act.
- Registered under the Limited Partnerships Act.
- A Māori incorporation or trust established under the Te Ture Whenua Māori Act, a trust set up to manage assets as part of a Treaty of Waitangi settlement, a Māori statutory body, or a business controlled by one or more of these entities.
To qualify, your business must also:
- Have spent at least $300,000 per annum and 1.5% of revenue on eligible R&D in each of the last two years; OR plan to exceed these levels over the next year (transitional application)
- Meet financial and due diligence requirements.
How do I apply?
Talk to us and we’ll help you through the process. You can apply at any time however your contract will begin on the first day of the next quarter.
See the Guidelines and FAQs for more details about R&D Growth grants.
The R&D grants allowed us to make a big investment in R&D by taking out some of the financial risk. They also enabled us to work closely with outside research institutes to speed up our R&D. With this funding we have grown faster and taken on more staff to expand our product development.
Nigel Beach, R&D Manager - Compac Sorting Equipment
Updated: 3 December 2015