Govt grants worth $140m awarded to 31 tech firms

Rakon's factory in Mt Wellington. Rakon was one of the firm's awarded a R & D Government grant today.

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