Technology Development Grant
The Foundation for Research, Science and Technology will run a one-off competitive investment process to allocate the $22.5 million of funding available in 2010, for the Technology Development Grant.
The grant reimburses 20 per cent of eligible R&D expenditure on a business's R&D programme, up to $2.4 million (excl. GST) a year, for 3 years.
To be eligible, businesses must meet all of the following criteria:
- have an average annual R&D intensity of 5 per cent over the past three years. (R&D intensity is calculated by dividing eligible R&D expenditure by revenue);
- have an average annual revenue of at least $3m over the past three years;
- be resident in New Zealand.
The process
- Businesses register their interest. Registrations close 5pm, 17 September 2010
- Eligible businesses sent application forms by the Foundation.
- Businesses submit application. Applications close 5pm, 4 October 2010
- Applications assessed by an independent advisory group
- Funding decisions in late November 2010 and contracting in December back dated to 1 October 2010
Grants will be awarded using a contestable process and there is expected to be substantial competition.
The Grant is targeted at larger R&D-intensive businesses that have:
- proven track records in R&D and ambition to grow by increasing their levels of investment in R&D
- R&D management capabilities that justify a hands-off approach from government, and business-centred control over the ways in which grants are used
- programmes of R&D that are likely to generate significant benefits for the wider New Zealand economy through the generation of new products, processes, systems and services.
Please contact us to discuss what opportunities there may be for your business. If you are not eligible for this programme the Technology Voucher programme will become available in November 2010 or one of the other Technology New Zealand programmes may fit your requirements.
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