10 Dec 2010

$92m in research grants for technology companies

3:07 pm on 10 December 2010

The Government is giving $92 million to technology businesses in New Zealand over the next three years.

Research, Science and Technology Minister Wayne Mapp says they allow businesses to form closer ties with universities and Crown Research Institutes.

Twenty-six grants of up to $7.2 million each were announced in Christchurch on Friday.

They will be given in stages next year and will enable more scientists and engineers to be hired.

Dr Mapp says technology is New Zealand's most important industry after the primary sector and tourism.

The grants will go to a variety of research intensive industries, including some household names such as Weta Digital and Fisher & Paykel.

Others include Serato Incorporated, which produces software for DJs.

Dr Mapp says the companies selected are proven performers and the investment will feed back into the economy.