Team NZ awarded R&D grants from government

The following article was originally published by Radio New Zealand…

Team New Zealand is to receive research and development grants from the government as it works on its 2017 America’s Cup campaign.

eight_col_TNZThe team has been awarded a grant through the agency Callaghan Innovation for high-tech design and development work.The scale of the grant has not been disclosed and will be paid quarterly – up to 20 percent of its annual research and development spending.

The team said it had been leading the way in marine and composite technology for 20 years and in the last campaign pioneered the foiling technology used on the America’s Cup catamarans.

Team New Zealand said it had previously not qualified for research and development grants because of other government sponsorship, which would not be provided for the 2017 Bermuda challenge.

If you would like to know more about securing a Callaghan innovation Growth Grant for your company, contact Garry at the resources guys.