New Zealand's 2013 Budget announcement last week includes a
package of three internationally focused growth initiatives
(totalling $400 million) designed to lift kiwi exports to 40
percent of GDP by 2025:
Science and innovation - $200 million of new funding over the
next four years for science, innovation and research including
Business R&D grants, repayable grants for start-ups, National
Science Challenges and the Marsden Fund.
Tourism - $158 million over four years to attract more visitors
to New Zealand, particularly high-spending visitors. This includes
$7 million over four years for Immigration to help boost tourist
numbers by improving visitor facilitation.
International education - $40 million over four years to
strengthen New Zealand education's presence in key
Science & Innovation
Science & Innovation funding totalling $200 million over the
next four years includes:
$75.2 million for business R&D grants
$31.3 million for repayable grants for start-up businesses
$73.5 million for the National Science Challenges
$20 million for the Marsden Fund
$130 million goes to Callaghan Innovation to encourage kiwi
businesses to invest more in research and development, and to
support new start-ups including expanded revamped R&D grants as
summarised further below.
Also announced is $2 million in new funding to launch the
New Zealand Story project – an initiative to help New
Zealand companies gain a competitive advantage from the use of the
New Zealand brand in international markets.
Marsden Fund ($20 million) will enable New Zealand's top
scientific researchers to conduct quality research in their fields
of expertise. The support for the Marsden Fund follows the
announcement of the
National Science Challenges earlier this month. On 1 May, the
Government announced 10 research areas under the National Science
Challenges initiative, including an increase of $73.5 million over
four years for the Challenge projects.
R&D Growth Grants
This is an expanded version of the previous Technology
A three year grant programme targeted at substantial R&D
Provides 20 per cent public co-funding for qualifying
firms' R&D programmes
Businesses with a minimum of $300,000 of R&D spending in
New Zealand, and at least 1.5 per cent of revenue spent on R&D
over last two years will be eligible
After two years of funding, businesses can be re-assessed for a
further three years funding
The cap on funding per annum will increase to $5 million (from
R&D Project Grants
Project grants are targeted at firms with smaller R&D
programmes and those that are new to R&D
Project grants will typically provide 30-50 per cent public
Project grants will be repayable under certain circumstances
– particularly if a business shifts its R&D activity
Businesses who receive the R&D Growth Grants will only be
eligible for project grants for collaborative cross-industry
R&D Student Grants
Student grants will provide support for undergraduate and
postgraduate students to work within R&D active businesses
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
James & Wells Intellectual Property, three time winner
of the New Zealand Intellectual Property Laws Award and first IP
firm in the world to achieve CEMARS® certification.
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As per a 2015 survey by Nasscom (the National Association of Software and Service Companies) India has paved the way to secure the third position in the world with three to four startups emerging every day, primarily in the areas of e-commerce, consumer services and aggregators.
Joint Ventures are still a popular investment vehicle for many
foreign investors who do business in China. Sino-foreign joint
ventures can take the form of equity joint ventures or cooperative
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