What Is Callaghan Innovation?
Callaghan Innovation is a programme that was set up by the Government about five years ago. The main aim of Callaghan Innovation is to act as an agency responsible for supporting innovation in New Zealand. Callaghan Innovation grants are designed to help businesses with research and development of new products, services or process lines within New Zealand. They work as an on-demand, non-discretionary scheme whereby qualifying companies may claim back 20% of their eligible R&D expenditure (to a maximum of $5 million per year).
What Have Been The Effects Of Callaghan Innovation?
Innovation is the key to any country’s development, and we applaud the government’s recent efforts to increase spend on Research and Development (“R&D”). Statistics New Zealand released figures earlier this year showing that in the past two years, New Zealand businesses increased their R&D spend by 29%, and recipients of Callaghan Innovation grants increased their R&D spend by approximately 46%. The flow-on effect on the country’s productivity can only be positive in our view.
What Are The Available Callaghan Innovation Grants?
A variety of grants are available from Callaghan Innovation depending on the stage of your project, including “Getting Started Grants”, “R&D Project Grants” and “R&D Growth Grants”. In addition to providing funding support for R&D projects, the grants can also provide technical expertise such as prototyping, project planning, feasibility assessments and product specification developments.
How Can We Help?
Your organisation must meet specific criteria in order to be considered for a grant, including financial and due diligence conditions. Over the past five years, we have developed an in-depth understanding of the intricacies of the Callaghan Innovation grant process, and have successfully assisted many businesses with their application process. We expertly and independently review your financial position and accounts, and carry out the required due diligence to help the grant application process flow as smoothly as possible.
Callaghan Innovation grants are an excellent opportunity for New Zealand businesses to start or advance R&D initiatives with both financial assistance and technical support. Incorporating professional, insightful financial reviews and comprehensive due diligence into the grant application process can maximise the chances of successfully receiving a grant.
To find out more about your eligibility for a Callaghan Innovation grant, or for assistance with the application process, please contact UHY Haines Norton Audit Director Bhavin Sanghavi on (09) 839-0248 or email email@example.com.