Tag: Innovation

Research and development wine project discovers exciting future market for wines

New Zealand researchers are working hard to ensure they can keep up and competitive with the continuing demand for wine as they cross the half way mark of their NZ$17 million research and development wine industry project.

This is New Zealand’s largest R&D wine project to date and was funded by the NZ government, winegrowers and around 15 individual wineries. The project was first initiated in 2013 with the goal to develop new ways of working in the vineyards, wineries and responding to changing market demands in order to position NZ as a premium producer of low alcohol wines.

The project will continue on for a total of seven years and ultimately aims to create a new category of premium naturally produced low alcohol wines for Sauvignon Blanc, Pinot Gris and Pinot Noir.

Natural production techniques will be explored through the use of different yeasts that are less effective at converting sugar to alcohol. The technique of restricting exposure to sunlight and varying picking times has also been explored in attempts to reduce the alcohol content.

The demand and trend for low alcohol and non-alcoholic wines and spirits has grown in recent years, with many UK supermarkets expanding and introducing new ranges of low alcohol wines.

Australia and New Zealand experience significant  issues each year surrounding drink driving, therefore a low alcohol wine can really make a difference. Low alcohol wines can also make a significant difference to social occasions such as mums meeting for brunch and sharing a bottle of low alcohol wine or a business meeting where you want to be social however remain in control.

While the project still has a significant way to go before the wines are perfected and sold on shelves, the NZ wine industry remains very excited about its innovative future and looks forward to transforming the wine industry in future years to come.

Did you know if your company is incorporating innovation and research into its business practice it could potentially be eligible for an R&D Tax incentive? R&D tax incentives that encourage innovation are an important part of government policy. They encourage more companies to engage in R&D activities that have the potential to improve efficiency, create jobs and make ground-breaking discoveries. Please contact Swanson Reed R&D Tax Advisors to find out which grant funding initiatives are available to you.

2017 Election – Innovation Policies

Government R&D incentives play an active part in encouraging innovative activity. Between 2014 and 2016, due to increases in science funding, R&D spend in New Zealand increased by 29 percent. Business investment in R&D helps Kiwi technology companies to realise products faster and thus bring in global revenues sooner. 

With less than a month until the election, here is a rundown of what each party is proposing in order to increase innovation and grow New Zealand’s economy.

The National Party

Innovation is one of six key areas in the National Party’s growth agenda. This year, the budget for science and innovation was increased by $256 million over four years. Another $74.6 million was added for the Callaghan Innovation Growth Grants, for a total of $657 million over the next four years.

Total spend for science and innovation will rise from $1.32 billion in 2015 to $1.66 billion by 2021.

The Labour Party

Labour plans to increase public science spend to meet the OECD average over time. They also propose a 12.5 percent R&D tax credit.

The Labour Party would like to introduce a young entrepreneurs plan, allowing Kiwi’s between 18 and 23 to apply for a grant of up to $20,000 in order to start a new, innovative business.

Furthermore, Labour plans to set up a digital excellence centre in Dunedin to grow existing digital companies.

The Green Party

The Green Party want to increase investment in science and R&D. They want to focus on research that contributes to sustainability through innovation, and discourage public science funding that is used for environmentally destructive practices.

The Green Infrastructure Fund would be introduced to attract private funding for innovative low carbon projects.

The Opportunities Party

The Opportunities Party would like to raise business R&D levels by encouraging a long-term outlook on productive investment. They aim to focus on sustainable ways of building revenue, rather than a reliance on property. The Opportunities Party believes that New Zealand needs to work smarter, rather than harder. They would like to increase R&D levels and boost the value of exports rather than the volume.

The Maori Party

The Maori Party intend to help create a potential 150,000 new jobs per year by 2060 via a priority investment fund for Maori Research and Development. They will encourage collaboration between researchers and industry to create jobs and opportunities. The party also proposes an incubation hub for hapu and iwi to test the viability of innovative ideas.

New Zealand First

New Zealand First’s policy proposes R&D tax incentives for businesses to innovate and grow exports and to provide assistance in marketing new products and services.  They would also like to lower the cost of intellectual property protection.

Act New Zealand

Act do not have a specific policy for increasing investment in innovation. The party opposes subsidies for R&D, and would instead use funding for a corporate tax cut.

R&D tax incentives that encourage innovation are an important part of government policy. They encourage more companies to engage in R&D activities that have the potential to improve efficiency, create jobs and make ground-breaking discoveries. Please contact Swanson Reed R&D Tax Advisors to find out which grant funding initiatives are available to you.