A seven-year research and innovation programme to extract more value from beef processing is the latest to receive support from the Government's Primary Growth Partnership fund.
It will finance half of the $87 million programme run by meat processor and exporter ANZCO Foods.
ANZCO has identified markets for new products in food, ingredients and healthcare.
The Foodplus project will identify opportunities to create those new products, with a particular focus on lower value parts of the beef carcase.
The latest project lifts the total invested by the PGP fund to more than $650 million.