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Got a strong track record of R&D? You could be eligible for ongoing reimbursements.
The Technology Development Grant reimburses 20% of eligible expenditure on your research and development (R&D) programme and can be awarded for three years. If you can demonstrate a strong track record of R&D and are investing significantly in this area, then this grant could be of significant value to your business. The grant is available to businesses with an average R&D intensity* of at least 5% over the past three years and with an average annual revenue of at least $3 million per year.
*R&D intensity can be calculated as: eligible R&D expenditure divided by revenue.
The Technology Development Grant is subject to funding rounds, scheduled at specific times of the year.
Technology Development Grant: 2011 investment round have now closed.
Businesses that are considering submitting a proposal for the Grant will have to meet the following eligibility criteria:
- Must have an average annual R&D intensity (eligible R&D expenditure divided by revenue) of at least five per cent (5%) over the past three years
- Must have average annual operating revenues of at least $3m over the past three years
- Must be a person or entity that is ‘in business’ and resident in New Zealand, and must not be an entity established under the Education Act 1989, Crown Research Institutes Act 1992, Local Government Act 2002 or the New Zealand Public Health and Disability Act 2000, or be or an entity that is 50 per cent or more owned by one or more of those types of entities.
Contrary to last year, there will not be a requirement to submit an accountant’s certificate validating the R&D intensity percentage with your application.
Businesses that are successful in their application may be required to provide a certificate as a pre-contract condition.
For more information please visit www.msi.govt.nz/technz/TDG.
How to apply for a Technology Development Grant:
- Call Venture Taranaki on (06) 759 5150 or email countmein@venture.org.nz
- Discuss your business trading activity with a Business Advisor
- Apply for funding (Technology Development Grants are subject to funding rounds)
- Funding decision is made
- If successful, a contract is established
- Payment is made
- Success is evaluated
If you’re interested in learning more about Technology Development Grant or have an R&D project you’d like to discuss contact Venture Taranaki’s Business Advisor Zara Ryan, zara@venture.org.nz or 06 759 5165.
Other funding available is:
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