The Ministry of Business, Innovation and Employment (MBIE) announced in January 2017 that applications for non-devolved preseed funding are now available. Non-devolved preseed funding is one part of the Government’s wider preseed investment which has targeted research projects early and accelerated commercial returns from research for over ten years.
The non-devolved preseed fund targets early technology commercialisation activities with the aim being to maximise the commercial benefits to New Zealand and improve the commercial capability of publicly funded research organisations. Preseed also aims to promote linkages between these public research organisations and the private sector, including from New Zealand and overseas. The end goal of the funding is to attract investor interest to publicly funded research and development, which will in turn enable greater economic return from New Zealand’s science and technology sectors.
MBIE will allocate up to $879,898 over the years 2016-2019 for non-devolved funding. Funding is available through an on-demand process. In order to be eligible for funding, applicants must:
- be a New Zealand based research organisation or legal entity based in New Zealand representing a New Zealand based organisation that has a regular and demonstrated flow of commercialisation projects;
- not have a devolved preseed contract; and
- apply in respect of projects which result from publicly-funded research and align with the priorities of the National Statement of Science Investment.
Non-devolved preseed funding is available to support expenditure such as external expert advice, experimental proof of concept and prototyping, market analysis and early development, commercialisation staff time and intellectual property expenses.
To date, devolved and non-devolved preseed investment has resulted in revenues to research organisations in excess of $118 million and has the potential to generate many jobs and up to $3 billion in export earnings for New Zealand (see here for more information).
Further information on MBIE’s non-devolved preseed funding and the call for proposals document is available here.
This article was written with the assistance of Vicky Mullins.