Tech firms get $140m boost

More than $140 million has been earmarked to go to 31 New Zealand tech companies in research and development grants.

Science and Innovation Minister Steven Joyce yesterday named companies awarded R&D growth grants from Callaghan Innovation, the Government's high-tech development body set up in 2012.

Recipients include NZX-listed companies Rakon, Scott Technology and a company owned by Wynyard Group.

The grants provide a 20 per cent contribution to a firm's annual R&D spend, capped at $5 million a year.

To qualify for the grants, businesses need to commit to spend at least $300,000 and 1.5 per cent of revenue on New Zealand research & development.

The grants last for three years and after two years of receiving funding, a firm can apply for a two-year extension to the assistance.

Grant winners

4RF

ARANZ Geo

Biodiscovery New Zealand

Douglas Pharmaceuticals

Dynamic Controls

Enatel

Endace Technology

Fisher & Paykel Appliances

Fisher and Paykel Healthcare

Forest Genetics CellFor

Formway Furniture

Gallagher Group

HSAGlobal (formerly Healthphone Solutions)

ikeGPS

Jade Software Corporation

Kakapo research and development

Magic Pulse (trading as Kitomba)

Orchestral Developments

Quantec

Rakon

Rocket Lab

Scott Technology

Simcro (formerly SimcroTech)

Skope Industries

Tait

Tandarra Engineering

Trans-Tasman Resources

Unlimited Realities

Vista Entertainment Solutions

Wynyard (NZ)

Zelam

- Hamish Fletcher of the New Zealand Herald

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