Business grants for Kiwi businesses
If you’re looking for a grant to start your business, it’s best to warn you upfront that business grants from government or other organisations are few and far between. Where they do exist, they’re generally geared towards research and development (R&D), and businesses with an established track record - and often require an equal (50/50) investment from the business owner.
On this page:
- R&D grants and assistance
- Grants for branching out into international markets
- Other grants and assistance
- Other funding options
R&D grants and assistance
The Ministry of Science and Innovation ( MSI) offers funding, business support and advice to help companies undertake new R&D projects or commercialise current R&D projects. Established businesses with a good track record in R&D can apply for an annual Technology Development Grant, which reimburses 20% of eligible R&D expenditure up to $2.4 million (exclusive of GST) per year. You can also consider Project Funding for your R&D projects. Approved projects are co-funded, with the business paying 50% and MSI paying 50%.
The Technology Transfer Voucher is designed to assist all businesses from start-ups to established companies to help them undertake well-defined research to help get products to market faster. The vouchers are available when needed for certain high-value manufacturing and service areas and agri-technology, and provide 50% funding. Vouchers typically range from $100,000 to $200,000 and there are currently 14 R&D partners where these vouchers can be redeemed for research and assistance.
If your business is looking for a Global Expert to evaluate new ideas and market opportunities, solve technical challenges or find new suppliers, MSI will provide you with a list of suitable experts you could work with, within 15 working day.
Branching out into international markets
New Zealand Trade and Enterprise ( NZTE) offers a number of support programmes designed to help established businesses expand into the export market. The grant programme, the International Growth Fund, has a budget of about $30 million to support businesses assessed by the NZTE as being most likely to contribute to New Zealand’s long-term growth.
Businesses that receive funding via the International Growth Fund will need to at least match the level of investment that NZTE makes through the fund.
Other grants and assistance
If you operate in New Zealand’s primary forestry and food sectors, the MAF Primary Growth Partnership could help with funding for research and innovation to boost growth and sustainability within the sector.
The Energy Efficiency and Conservation Authority ( EECA) offers a number of funding options including grants and loans to assist businesses in reducing greenhouse gas emissions.
Other funding options
Given that grants outside of R&D are largely non-existent, this means that most businesses in New Zealand will need to consider other funding options. This article on the main sources of finance outlines other options for you to consider to start up your business or fund its growth.
Information supplied by Business.govt.nz
