A 2015 study of New Zealand businesses by Adam Jaffe and Trinh Le, The Impact of R&D Subsidy on Innovation, found that an R&D grant almost doubles the probability of a business developing products that are new to the world.
Grants administered by Callaghan Innovation are already driving an increase in New Zealand business expenditure on R&D (BERD). Statistics NZ survey data shows that across the country, BERD grew by 29% between 2014 and 2016. Over the same period, R&D spending by a sample of Callaghan Innovation customers increased 46%. Businesses that had a grant and used another Callaghan Innovation service increased their R&D investment by even more.
Analysis of the businesses receiving grants through Callaghan Innovation shows their increased R&D spend is not just the result of government funding — the grants are achieving their intended purpose of encouraging businesses to invest more of their own money in R&D.
If you’re interested in securing Callaghan Innovation grants and want a hand, contact us at the resources guys