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The New Year inevitability brings review of the past year and resolutions to advance key
opportunities and projects in the year ahead.
Simon Carlaw (CEO Business New Zealand) in "Plan A for a wealthier New Zealand"
(NZ Herald, 9/01/02), advanced some of his resolutions.
In a 20-point plan for New Zealand he noted the need to "Get more private sector-funded
research and development to help make up for public institutions' difficulties in translating
research into commercial results"
It is well known that there are no tax "breaks" for such research and development,
a fact sometimes bemoaned by the business community. However, what is not so well appreciated
is the increasing number of project specific options for supporting and investing in research
and development. The preferred vehicle is to provide a "hand up" rather than a
"hand out".
Excluding individual venture capital providers there are many different providers of either
investment cash or in-kind support for research and/or development projects. These
include:
- Foundation for Research Science & Technology - This has traditionally been the
preserve of the Crown Research Institutes and Universities but the process has now been
opened up to allow research users to apply directly, which a number are in the process of
doing. FRST publishes a schedule of programme areas for which they will accept proposals.
This is a new development which is still evolving and worth considering.
- Technology New Zealand - Many of you will be aware of the options available here. As
always TNZ staff welcome well-prepared proposals that are technically challenging and
commercially robust.
- Industry New Zealand - We have recently reviewed the services offered by INZ and there are
a range of options for both individual businesses and sector groups. Please contact us if you
want to know more.
- Investment New Zealand - This is a new group within Trade New Zealand, which actively
assists foreign countries and investors to relocate here. Specialist expertise is available
to develop relationships between New Zealand companies and potential overseas investors.
- Agmardt - This contestible fund is available to groups within the primary sector for
research and development projects and industry development projects.
In our experience applications to these agencies, which are technically sound and
commercially robust have a high success rate.
We have also recently reviewed a number of the venture capital options available in New
Zealand, as these are becoming increasingly important. Please contact us if you would like to
receive more information.
All the best for the year ahead.
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