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R&D Growth Grants for 22 more high-tech companies

This article was published on 2 October 2014

New Research and Development (R&D) Growth Grants expected to be worth more than $32m over three years have been awarded to another 22 high tech companies by Callaghan Innovation, Science and Innovation Minister Steven Joyce announced today.

“These grants are helping a large number of innovative companies that produce world-leading, high-value products and high-quality jobs for New Zealanders to invest even more in innovation, boost growth and increase exports,” Mr Joyce says.

R&D Growth Grants provide 20 per cent 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.

Growth Grants are determined on an objective basis by application to Callaghan Innovation. To qualify for a Growth Grant, a business needs to commit to spend at least $300,000, and at least 1.5 per cent of revenue per year on quality 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.

The latest companies to be approved for R&D Growth Grants are involved in a wide range of industries, from aviation and audio to horticulture and online travel software.

They are:

  • Atlantis Healthcare Group Ltd
  • Buckley Systems Limited
  • Core Technology
  • CRV Limited
  • Cubic Defence New Zealand Limited
  • Escea Ltd
  • GeoOp Limited
  • Kahne Ltd
  • NEC New Zealand Limited
  • Pacific Aerospace Limited
  • Phitek Systems Limited
  • Plant Research (NZ) Limited
  • PQ Blackwell Licensing Limited
  • RJ Hill Laboratories Limited
  • Serato Inc LP
  • Serko Limited
  • Silverstripe Limited
  • The Tarn Group Limited
  • Technopak Limited
  • Telogis Limited
  • Vadacom Limited
  • Vital Foods Processors Limited

These latest grants mean 110 high tech companies have been awarded Growth Grants worth an estimated $292 million (excl. GST) over three years since the grants were introduced last year.

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 832 different hi-tech companies.

The Callaghan Innovation R&D grants system was announced in Budget 2013, replacing and expanding an earlier programme.A total of $566 million is available over four years to encourage the development of a strong R&D ecosystem in the New Zealand economy, and support the development of industries such as ICT and hi-tech manufacturing.