14 companies to grow R and D with Growth Grants

Science and Innovation Minister Steven Joyce today announced the latest companies that meet eligibility criteria for research and development (R&D) Growth Grants administered by Callaghan Innovation.

Fourteen new companies will be able to increase their investment in R&D through Growth Grants worth up to $15.8 million over three years. Callaghan Innovation’s R&D grants programme is aimed at bringing New Zealand’s levels of private R&D investment and innovation closer to those of our major trading partners.

Growth Grants meet 20 percent of the cost of an eligible firm’s R&D programme. A total of 152 hi-tech companies have now been awarded grants worth up to $356 million. That will in turn support business spend on R&D of up to $1.5 billion over three years.

"The companies in this latest tranche include young, fast-growing hi-tech firms such as audience engagement app developer STQRY and pigment company D’Arcy Polychrome that realise the importance of innovation," Mr Joyce says.

"These grants are a crucial part of our efforts to boost levels of private R&D spend in New Zealand, which studies show is a key driver of economic growth. In addition, they help diversify the New Zealand economy and assist New Zealand companies to successfully compete internationally.

"That in turn will help lift New Zealand’s export revenues, job numbers, and the incomes of Kiwi families."

The latest companies to qualify are:

- Agility CIS Ltd

- Bluelab Corporation Limited

- D'Arcy Polychrome Limited

- Flightcell International Limited

- Invenco Group Limited

- Izon Science Limited

- MetOcean Limited

- Portland Software Services Limited

- Rinnai New Zealand Limited

- SAFERsleep Limited

- Stella Now Limited

- STQRY Limited

- Unleashed Software Limited

- Waikato Milking Systems