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R&D – is it for me?
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 and we can work through the eligibility criteria and tax implications with you.
