Direction to: The Foundation for Research, Science and Technology ("the foundation").
Under section 8A of the Foundation for Research, Science, and Technology Act 1990, I direct the foundation to allocate funds in accordance with the Technology for Business Growth Scheme ("the scheme") specified in this notice.
This notice revokes and replaces the notices published in
the New Zealand Gazette, 17 August 1995, page 2236, New Zealand Gazette, 1 August 1996, page 2019, New Zealand Gazette, 10 July 1997, page 1695 and New Zealand Gazette, 29 June 2000, page 1672, which established and amended the Technology for Business Growth Scheme.
Nature of the Scheme
The scheme is intended to foster research and development, technological learning and technological innovation in technologically capable1 firms.
The intended outcome of the scheme is a greater investment by firms2 in research and development, technological learning, knowledge application and the development of technology?based human capital.
The scheme is intended to focus on projects that have the potential to enhance technological capability and enable firms to move towards high?value, technology?based products, processes or services.
Scheme Objectives
Projects that meet the scheme's objectives are eligible to receive funds from the foundation.
The scheme's objectives are to:
? foster research and development, technological learning and technological innovation within firms; and
? support projects that may enhance a firm's technological capability and may enable firms to move towards high?tech, high?value markets.
More projects may meet the scheme's objectives than there are funds available. The foundation will fund those projects that, in its view, best meet the following criteria:
? Have a clear link to a business strategy focused on developing new markets for high?value, technology-based products, processes or services with reasonable commercial potential;
? are not likely to proceed without the scheme's support;
? are technology?based projects undertaken in a "learning by doing" model; and
? have the potential to create an enduring increase in technological capability in the firm.
The foundation will have full discretion to manage the allocation of funds for the scheme in a way that achieves
the outcome and objectives of the scheme. The type of projects that could be supported may include, but are not limited to, the following:
? Feasibility projects; and/or
? product and process development; and/or
? technology platform development.
The Mechanism
The foundation will use the scheme to fund up to 50% of the research and development costs that a firm will incur in undertaking a project which meets the scheme's objectives.
Those costs can include the cost to the firm of contracting research and development capability.
Funding to be Allocated
Funds available for the scheme will be published each year in the estimates of appropriations.
The foundation will have the discretion to allocate up to 10% of funding for this scheme:
? to the TechLink Scheme or the Technology for Industry Fellowship Scheme; or
? between the TechLink Scheme and the Technology for Industry Fellowship Scheme.
This will occur if all schemes involved in the allocation are appropriated within the same non departmental output class under the Public Finance Act 1989.
The Minister of Research, Science and Technology's written approval is required before the foundation can allocate 10% or more than 10% of the scheme to any other scheme issued by the Minister of Research, Science and Technology under section 8A of the Foundation for Research, Science, and Technology Act 1990.
Period of Operation
The scheme will commence operation on 1 November 2004 and will operate for a minimum of five years from the date of this notice.
Monitoring Agency
Monitoring of the scheme, including implementation of this Ministerial notice by the Foundation for Research, Science and Technology and the extent to which the scheme achieves its stated objectives, will be carried out by the Ministry of Research, Science and Technology.
Dated at Wellington this 18th day of November 2004.
PETE HODGSON, Minister of Research, Science and Technology.
Notes
1Technologically capable firms are those firms that, in the foundation's view, have developed a comprehensive set of competencies in the area of technological innovation and recognise that research, science and technology capability is fundamental to sustained competitive advantage.
2A firm is defined as a body corporate or other entity that has a legal personality or existence distinct from those of its members (including sole traders) and is resident in New Zealand. For the purposes of this scheme,
a firm excludes all Crown owned body corporates or other entities governed by the Education Act 1989 and the Crown Research Institutes
Act 1992. On a case by case basis, the foundation may allow other Crown owned body corporates or other entities not excluded from this definition the opportunity to apply to this scheme. Guidelines for determining access to this scheme will be published by the foundation from time to time.