TechNZ R&D Funding
Grow Wellington is the Regional Technology Partner for TechNZ - the Foundation for Research, Science and Technology’s business investment programme. Through TechNZ NZ$75 million is available in 2010/2011 year to help businesses discover and develop new technologies and build people’s skills and knowledge to carry out leading edge R&D. In principle, TechNZ funding supports businesses to undertake high-risk and technical stretch R&D that they can't manage with their own resources and 'capability'.
Grow Wellington can approve investments under $5k, whilst investments up to $30k are reviewed by a nationwide network of TechNZ Partners (one TechNZ regional partner reviews the application in detail, and all 9 partners together with a TechNZ manager discuss the application during a bi-weekly teleconference where the applications are approved, returned to the client for re-work or declined).
Grow Wellington can also work with companies to develop proposals for projects over 30k introducing companies to FRST investment managers to discuss potential investment proposals. FRST investment managers will then work with companies to develop their business case for funding enabling them to make recommendations. The proposal will then be submitted for peer review if the project meets the TechNZ funding criteria.
TechNZ – Getting Started 5k is commonly used to remove roadblocks and to stimulate R&D activities by involving external experts.
- IP advice (Freedom to Operate or Patent Strategy)
- Developing and reviewing project plans
- Technical feasibility
- Mentoring, & Milestone review
- Product validation, including regulatory approval
TechNZ - Accelerate - $5K and $30K supports in addition, structured R&D projects.
- Typically Science and Technology focused involving outside experts and company staff,
- The cost of employing a senior (final year) undergraduate
- Masters or phd student to undertake an R&D project
- Embedding important new capabilities
- Stimulating successful R&D activity within the company
TechNZ – Education
This is for a Masters Student who will work 50% of their time in your business under an experienced staff member and the rest of their time in the University under the guidance of lecturing staff. It means that your company can have a considerable intellectual and technical resource applied to a specific project with highly qualified and valuable results
TechNZ – Internship and Under Graduate Programmes
These are only open for a short time but are designed to allow university undergraduates to gain work experience and to apply their time to assisting the company gain knowledge or research into specific issues or tasks of value to the company.
Projects not supported include: market research for an existing product, consultants' costs, patent filing costs, business planning, generic training courses and overseas travel. The FRST website offers an overview (please see http://www.frst.govt.nz/funding/business).
The applications are assessed in respect of the company and the project. For example, the company is assessed for 'attitude' (knowledge, drive and ability) and desire to grow through research-led innovation. The reviewers also take into account the company's financial status (i.e. whether or not it is profitable) and whether the project represents long term benefit. Also considered is whether the proposed R&D is a sensible next step, the probability of success and whether the company is 'strong' in the region.
In terms of the 'project', the criteria include whether it is the right opportunity and fit, whether the expertise gaps are plugged and the 'expert' is suitable, the level of confidence in the company and personnel and the contribution to the region and/or to New Zealand.
Overview of the assessment criteri
- Technical stretch, significantly technically challenging R&D project and/or building the capability of the company
- Commercialisation "Pathway to market", identifiable market opportunities within New Zealand and/or overseas (potential customers, strategic partners, distribution channels)
- Ability of the company to deliver, the right team and resources and the appropriate qualified experts have been selected
- Return on Investment, to the company and the New Zealand economy (projected sales figures realistic and justified)
To register clcik here
Global Expert
Global Expert is a fast, confidential search service that connects New Zealand businesses with experts to help solve technical and market related challenges. From concept to commercialisation, Global Expert can help evaluate ideas, accelerate product development and inform business decisions – saving you time and money.
This service uses a network of more than 20,000 New Zealand and international experts from leading universities, research institutions and companies around the world. This provides a considerable subsidy meaning we can help you find ‘the’ right expert locally for $499 or from overseas for $1999. On selection of your global expert we may also be able to structure an R&D investment to fund that expert based on the funding options detailed above.
To fill in the Global Expert Questionnaire click here
If you have any further questions about the TechNZ funding programme or the Global Expert service, please feel to make contact with Darren Ross Commercialisation Advisor Darren.ross@growwellington.co.nz 043820077 or Mikesen Breakfast Business Growth Manager Mikesen.breakfast@growwellington.co.nz 04 382 0081 from the Business Growth team here at Grow Wellington.