A company specialising in touch screen technology will receive the largest amount of funding in the latest round of Government research and development grants.
Nineteen businesses will be given $50 million over the next three years, in the second round of grants to be announced since the 2010 Budget.
NextWindow - which supplies touch screen components to electronics manufacturers - will get a grant of about $6 million.
Two businesses that develop animal health products, Ancare Scientific and Argenta, will receive $5 million and $4.6 million respectively.
Accounting software developer Xero has been awarded more than $4 million over the next three years.
Science and Innovation Minister Wayne Mapp says the money will give the companies more financial certainty and speed up the development of innovative products and services.
The grants scheme replaced the former previous government's R & D tax credit.