Callaghan Innovation is giving 15 manufacturing and services companies a boost with R&D growth grants totalling more than $21 million over the next three years.
The government introduced the grants last year to give firms 20 percent co-funding on their R&D spend, with a bigger cap of $5 million per year on the previous scheme's $2.4 million. After two years the companies can get another extension of funding.
The latest companies to be approved for R&D Growth Grants span sectors including software, transport management, manufacturing, natural health and woundcare, medical devices, diagnostic and monitoring, wireless power transfer, aluminium casting, environmental monitoring, digital publishing, visual communications and electronic componentry.
Advanced Management Systems
Manuka Health New Zealand
Reckon Accountants Group
Trends Publishing International
Vynco Industries (New Zealand)
A business needs to commit to spending at least $300,000 and at least 1.5 per cent of revenue on R&D in New Zealand to apply for a grant.
So far this year 65 companies have been approved for R&D Growth Grants worth $220 million over three years.
In February, companies to get grants included Apex Valves, Barker Fruit Processors, Compac Sorting Equipment, Fiserv New Zealand, Gameloft New Zealand, Imarda, Mea Mobile, Pacific Edge, Phil & Teds Most Excellent Buggy Company, TracMap, Vend and Weta Digital.