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 and the final date for completed submissions is 31 January 2019. Your completed submission must have all required supporting information including review reports. For further information please see our FAQs.
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. The final date for completed submissions is 31 January 2019.
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: 5 December 2018