Funding your NPD venture

You can’t just magic your new product out of thin air: you need cash. Here’s where you might find it.

Government commercialisation organisation Callaghan Innovation manages $140 million a year in funding and grants. The Ministry of Business, Innovation and Development – check its online Fund Finder. The Ministry of Primary Industries has a significant budget for funding primary sector science and innovation projects. Universities and research institutes have pockets of funding and deep expertise to help companies develop science and research. Banks: Many companies fund their research and innovation out of cash flow and debt facilities. Supply chain or retail partners may be willing to share some of the costs. For example, companies developing private label ranges for supermarkets. New Zealand Innovation Council doesn’t have money, but provides networking and an online hub with access to innovation and business-growth resources, experts, forums and events.