Is your business eligible?
Science and Innovation Minister Steven Joyce announced during Budget 2013 that three new R&D grants would replace the four existing schemes. Callaghan Innovation will now invest more than $130 million a year in government grants. It wants to encourage businesses to invest more in R&D and support new start-ups.
“Business innovation is crucial for New Zealand companies to compete and win in the tough international environment we have today,” said Joyce.
“This package will help our businesses invest more in R&D so they can compete more effectively in international markets. Our most successful exporters are generally the most innovative.”
Through its Business Growth Agenda, the Government has committed to supporting businesses to double their expenditure on R&D to over 1% of GDP.
The three new Business R&D grants announced in the Budget are:
- R&D Growth Grants: Targeting businesses with strong track records for R&D spending in New Zealand, this is a three-year grant programme with a $5million cap on funding per annum
- R&D Project Grants: Targeting firms with smaller R&D programmes and those that are new to R&D, typically providing 30–50% public co-funding
- R&D Student Grants: Providing support for undergraduate and postgraduate students to work within R&D-active businesses
For more information about the new grants system and any further questions, please phone 0800 4 CALLAGHAN (0800 422 552).
Updated: 4 September 2015