AsianScientist (Aug. 23, 2011) – A new round of technology grants to 19 businesses emphasizes the importance the of science and technology in New Zealand, said the Science and Innovation Minister, Dr. Wayne Mapp, as he announced the successful applicants last week.
The NZ$50 million (US$41 million) in Technology Development Grants are the second round of grants since the scheme was announced as part of Budget 2010, which provided a NZ$321 million boost in Research Science & Technology activities.
“The first round of these grants totaled $92.6 million to 26 businesses, and were announced in December 2010,” said Dr. Mapp.
“The only way we can create the jobs, higher incomes, and better living standards New Zealanders deserve is through building faster and sustainable economic growth. Research Science and Technology will help achieve that that goal,” he said.
Citing the need for high-tech, exporting companies to maintain their competitive edge in global markets, Dr. Mapp said that the latest series of grants, ranging from between NZ$300,000 and NZ$5.9 million, would provide companies financial security over three years, and help to speed up the development of innovative products and services and get them to market faster.
Manufacturing, biotechnology, medical technology, electronics, agri-technology, and software development business were all recipients of these grants. The grants are valued at 20 percent of the R&D spend of each business, up to a maximum of NZ$2.4 million (US$2 million) per year for three years.
Awardees include Energy Mad, for the development of Ecobulb®, a high performance, low mercury, high power factor bulb that replaces incandescent and halogen light bulbs; and Next Window, a company that develops optical touch screen technology devices.
The full list of recipients: Technology Development Grant 2011 – Overview of recipients.
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Source: New Zealand Ministry of Science and Innovation.
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