Budget 2020

The NZ Government has just announced $230 million for encouraging entrepreneurship and “risk-taking”. This includes $150 million to provide loans to R&D intensive businesses, with a cap of up to $100,000.

The scheme will be up and running by early June, with details still to come on the loan interest rates, which are quoted as being offered at “favourable terms”. $80 million was also announced to encourage businesses to develop new products by enabling them to claim tax deductions for unsuccessful or abandoned assets.

Formworks is an Approved Research Provider (ARP) with the IRD. https://www.classic.ird.govt.nz/research-development/rdti/approved-research-provider-list/#f

You can find information on the Callaghan Innovation Grants in the below link:

Getting Started Grants
Are you in the early stages of R&D? The Getting Started grant will help take your product, process or service from development to commercialisation.

Project Grants
Is your business new to, or trying to expand your R&D? A Project Grant can help you take on larger or more challenging R&D.

R&D Tax Incentive
The R&D Tax Incentive (RDTI) helps a wide range of businesses to undertake more R&D, which in turn grows New Zealand’s knowledge economy.

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