Callaghan Innovation provides co-funding towards the costs of technically challenging research and development (R&D) projects that lead to business growth.
The funding provides support to businesses to develop new technology products, processes, services and freedom to operate searches.
Initial funding is available to prove developing a technical product is feasible. Further funding can then be provided to complete the R&D project. Funding is generally for 40% of the project cost and can be awarded to companies at any stage, from start-up to mature, and across a broad range of sectors . However, support for a product once it is ready for market, such as marketing and branding, is not covered.
When assessing a funding application for a potential project, the following aspects are considered:
- Is there a technical challenge or technology stretch for the proposed activity?
- Will the project result in a competitive advantage?
- Are the returns on investment sound?
- Is there a clear pathway to your target market?
- Is there is an understanding of the intellectual property (IP) position and a strategy is in place for this?
- Are there the right expertise internally or externally for the project?
- Is your business financially robust?
Projects are assessed individually, and funding can range from $1,000 to $1,000,000 plus.
Project Funding cannot be used for:
- Business as usual activities
- Patent filing costs
- Generic business planning activities
How to apply for Project Funding Grants:
- Contact Alistair Adam at Venture Southland
- Discuss your project or new product ideas in confidence with Venture Southland.
- Apply for funding.
- Await the funding decision
If successful, a contract is established between the organisation and Callaghan Innovation. The project is then undertaken and funding provided. Following the completion of the project, the success is evaluated.