$92m tech grants handed out

Research, Science and Technology Minister Wayne Map. Photo / NZPA

Technology grants have been given to 26 companies in a $92 million Government programme for business research and development.

The grants, which range from $490,000 to $7.2m over three years, are part of the Technology Development Grant programme announced in May's budget.

Announcing the grants today, Research, Science and Technology Minister Wayne Mapp said lifting high-tech export business was critical for the country's future.

"New Zealand's leading high-tech companies need to retain their competitive edge in global markets for the benefit of us all," he said.

"Helping to take some of the risk out of research and development will encourage these firms to stretch for more ambitious goals."

The companies spanned across a range of sectors including manufacturing, biotechnology, 3D scanning and modelling, furniture design, digital technologies and software, Mr Mapp said.

- NZPA