Are you looking to take your business to the next level?
Introduce new revenue streams?
Dig deeper into the science or technology behind what you do?
Innovation can be a hard road but with the right people and financial backing, it can be a game-changer. Right now, there are tax credits, funding programmes and other resources available that are specifically designed for Kiwi businesses aiming to increase their R&D activity in New Zealand.
Where to first?
Whether you’re exploring a bright idea or increasing your R&D investment, talk to Callaghan Innovation. New Zealand’s innovation agency connects people, opportunities and networks. They also provide R&D funding support for businesses with grants such as:
- Getting Started Grants – best suited to businesses new to R&D. Eligible businesses receive 40% off R&D project costs, up to $5,000, as a one-off payment on completion of the project.
- Project Grants – for businesses who are new to, or trying to expand their R&D. Eligible businesses receive up to 40% of R&D project costs; reducing for large projects, or when the business has had multiple grants. Grants are paid in arrears (monthly or quarterly).
- Student Grants – for businesses wanting to increase their R&D capability, and students wanting to develop their skills in a commercial R&D environment.
Discover how Callaghan Innovation has helped other Kiwi businesses grow at: www.callaghaninnovation.govt.nz
Connect for success
Got the brainchild but no funding? You need an investor. Here are three ways to tap into people interested in helping Kiwi businesses thrive.
- Scale-Up New Zealand is a free online platform that provides information about Kiwi start-ups, investors, hubs, and multinationals, and also helps businesses connect with potential partners and investors.
- Angel Association New Zealand champions early stage business investment. It has a network of regional groups and funds throughout New Zealand, runs regular events, and offers practical resources such as shareholder agreement templates and due diligence checklists.
- The New Zealand Investment Network connects Kiwi entrepreneurs with local and international angel investors.
Already invest in R&D? You might be eligible for a 15% tax credit from the 2019/20 income year. Before you can submit a supplementary return to obtain a tax credit, you’ll need to enrol through myIR. The rules are complex, so give us a call on (06) 878 8824 and we can work through the eligibility criteria and tax implications with you.