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.
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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.
• ARANZ Geo
• Biodiscovery New Zealand
• Douglas Pharmaceuticals
• Dynamic Controls
• Endace Technology
• Fisher & Paykel Appliances
• Fisher and Paykel Healthcare
• Forest Genetics CellFor
• Formway Furniture
• Gallagher Group
• HSAGlobal (formerly Healthphone Solutions)
• Jade Software Corporation
• Kakapo research and development
• Magic Pulse (trading as Kitomba)
• Orchestral Developments
• Rocket Lab
• Scott Technology
• Simcro (formerly SimcroTech)
• Skope Industries
• Tandarra Engineering
• Trans-Tasman Resources
• Unlimited Realities
• Vista Entertainment Solutions
• Wynyard (NZ)