Home » News » NSW State Government Offers R&D Fund and New Tech Vouchers

NSW State Government Offers R&D Fund and New Tech Vouchers

The NSW State Government has recently announced new initiatives relevant to companies conducting R&D activity:

• A $6 million R&D fund will target innovative products that have been developed by NSW businesses. Proposals to scale R&D products will be assessed by a panel of judges with expertise in commercialisation, venture capital, academia, government and industry;
• A COVID-19 edition of TechVouchers, valued up to $25,000 and $50,000 per business, will be provided to businesses to access expertise and equipment in NSW, through publicly funded research organisations such as universities, CSIRO, National Measurement Institute and ANSTO.

Additional information is available on the NSW Government website.

Companies who meet the relevant criteria and that have the time to participate in the grant application process should consider these initiatives.

Companies who receive the grant funding and are also registering activities under the R&D tax incentive will need to be mindful of the operation of the new clawback provisions relevant to grant funded expenditure.

Take our online eligibility test to check whether your company can reduce its tax bill with the R&D tax incentive.