Research, Science and Technology Minister Wayne Mapp yesterday announced the initial list of six research institutions from which businesses participating in the scheme could choose.
The "vouchers" will be awarded on application to businesses with a specific research and development project, but little or no in-house research and development capability.
Under the scheme, the Government will match, dollar for dollar, a company's investment in having the research done at one of the selected research organisations.
Voucher values will range from a minimum of $100,000 to a maximum of $1 million, though it is expected most will be in the range of $100,000 to $200,000.
The Budget set aside $20 million over four years for the vouchers, with $5 million of that avaliable in 2010-2011.
The other research organisations selected are the University of Auckland, Industrial Re-search, the University of Canterbury, AUT University, and the Wellington Institute of Technology.
More would be selected next year, Dr Mapp said.
The scheme will be administered by the Foundation for Research, Science and Technology. Applications for vouchers can be made to the foundation from November 1.
Dr Mapp said in a statement research and development was a key driver of economic development.
The voucher scheme would enhance the connection between the business and science sectors, which would lead to innovation and business growth, which benefited all New Zealanders, he said.
