Got an idea for a research and development project, or wanting to test the feasibility of something you’ve developed? If so, it’s time to talk to Enterprise North Shore about two avenues of funding that could help your business…perhaps even within the week.

Smartstart, a Technology New Zealand funding programme, and tax credits offered by Inland Revenue for R&D are two of the easiest and simplest ways for your business to gain funding.

Email Enterprise North Shore for more information.

SmartStart Grants

If you’re planning to develop a new product, wanting to build a prototype, constrained by resources or expertise, needing a technical problem solved, or wanting specialist technology expertise, then now is a good time to act.

In the past, SmartStart has supported projects in manufacturing, marine, engineering, electronics, ICT and other technology-based sectors. One North Shore early-stage company successfully used SmartStart to undertake research at Massey University in order to develop and test a prototype system for a smart digital camera, and is now commercialising the technology.

SmartStart is simple to apply for. In fact, if the total project cost is less than $10,000, Enterprise North Shore can often approve it within one week. Applications for more than $10,000 are sent to TechNZ for about a two-week turnaround, with SmartStart funding normally covering half the total project’s external costs and the company paying the other half.

Email Enterprise North Shore to apply for a Smartstart grant or for more information.

Research and Development 15% Tax Credits

We can also advise on new tax credits for R&D launched on April 1 this year. If your current R&D exceeds NZ$20,000, your business may be eligible for tax credits covering 15% of eligible costs. Enterprise North Shore is also planning further workshops on tax credits in the next few months.

You can download a presentation on Tax Credits from the Hayes Knight website.

You can find out more about Research and Development from the Applied Support Services Website.

You can visit the IRD website to find out more about the rebate scheme.

For more information on SmartStart and tax credits, email Dorian Scott or call 414 1341.