In a bid to help Kiwi businesses who are just starting out on their R&D journey, Callaghan Innovation has introduced the New to R&D Grant.
Callaghan Innovation has today opened the New to R&D Grant for applications.
Announced as part of the Government’s $250 million Budget 2022 boost to support Kiwi firms that want to innovate, the New to R&D Grant has been designed to target businesses who are new on their R&D journey, by helping them to build skills that will see them become long-term R&D performers.
Callaghan Innovation Chief Executive Officer Stefan Korn says the grant is the first of its kind for both Callaghan Innovation and Aotearoa because it’s about more than just funding.
“Many entrepreneurs and businesses find R&D hard, or they simply don’t know where to start. With this grant, we want to build a culture of continuous research and development in Kiwi companies so they stay at the front of the pack – seeking new markets, with new products, and new developments.
“We are deliberately supporting the development of capability within the R&D space. That has never been done before, but we know a focus on innovation leads to the creation of new higher-wage jobs, and helps our firms compete more effectively in the global marketplace. Innovation and R&D activities are often the basis for creating exciting new products and services, and also help bring down costs by improving efficiency.
We want to reach more businesses who are at the start of their innovation journey, and support them to become the next Kiwi success story.
The New to R&D Grant offers more than just research and development funding – over a two-year period, it will help businesses that have previously not had the time or ability to focus on R&D by fully-funding capability development, and supporting them to access future R&D funding through the Research & Development Tax Incentive (RDTI).
To find out more about the New to R&D Grant, including criteria and other support mechanisms available, visit the Callaghan Innovation website.
About the New to R&D grant
The New to R&D Grant is a co-funded grant available over a two-year period, to provide support to businesses that are new to R&D, to develop capabilities to perform R&D on a systematic basis over the longer term. The grant will fund 100 percent of the costs of capability development activities covering seven areas that enable companies to upskill and learn how to perform R&D better for the longer term. Companies can also access up to 20 percent of the cost of R&D activity, up to a total of $400,000 per company. Grant recipients will continue to perform R&D after the end of the grant period and will transition onto the R&D Tax Incentive (RDTI) for ongoing Government R&D support.
For more information, please contact media@callaghaninnovation.govt.nz or call the media team on 027 291 9604.
About Callaghan Innovation
Callaghan Innovation is New Zealand’s innovation agency. The organisation’s primary mandate is to activate innovation and accelerate commercialisation to help businesses grow faster for a better New Zealand. The government agency partners with ambitious businesses of all sizes, delivering a range of innovation and research and development (R&D) services to suit each stage of their growth.
Callaghan Innovation’s team empowers innovators by connecting people, opportunities and networks, and providing tailored technical solutions, skills and capability development programmes, and grants co-funding. Callaghan Innovation also enhances the operation of New Zealand’s innovation ecosystem, working closely with MBIE, NZTE, NZGCP, Crown Research Institutes, and other organisations that help increase business investment in R&D and innovation. The agency operates from four urban offices and a regional partner network in a further 12 locations across Aotearoa.
Gracefield Innovation Quarter is home to more than 200 of New Zealand’s leading scientists, researchers and technicians, along with a suite of tenant businesses. The site features state-of-the-art specialist workshops, pilot plants, labs and equipment, and world-class measurement facilities.
