Is your business an experienced R&D performer? This grant will help you increase your R&D investment.
NOTE: This grant is being replaced by the R&D tax incentive. The final date for new Growth Grant applications is 12 noon on 20 December.
(On 3 October 2018, the Government announced the final design of the R&D tax incentive following extensive consultation with the innovation sector and businesses throughout the country. Read more… )
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
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 before 12 noon on 20 December 2018.
Growth Grant guides and FAQs
How do I calculate R&D intensity ratio and eligible R&D expenditure for a Growth Grant?
As a starting point, consult the following Evidencing Eligible R&D and RDI for Growth Grant guideline and Growth Grant Application template. These two documents will help clarify, eligible and ineligible R&D expenditure and evidential requirements, and specify relevant accounting standards.
Growth Grant Guidelines
Application/Annual Review Certificate template (for chartered accountants)
Please refer to the 'Evidencing Eligible R&D and RDI for Growth Grants' guidelines above for other templates.
Growth Grant application template
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: 18 October 2018