Several IT companies are among the recipients of Ministry of Science and Innovation technology development grants announced by the government earlier this week.
The IT firms that have been granted research and development funding are:
Agility CIS, Auckland-based vendor of customer management software for the utility sector, $300,000;
Core Technology, Wellington-based vendor of management software for IT departments and businesses, $629,000;
Mako Networks, Auckland-based vendor of network management and security products, $4,321,000;
NextWindow, Auckland-based optical touchscreen specialist, $5,931,000;
OpenCloud, Wellington-based telecomms software maker, $2,394,000;
Wherescape, Auckland-based data warehouse software specialist, $650,000; and
Wellington-based online accounting vendor Xero, which received a $4,040,000 grant. The grants are valued at 20 per cent of the money a recipient spends on R&D, up to a maximum of $2.4 million per year over the three years, according to a statement released by the government. So the final amount that each company receives is contingent on how much of their own money they spend on research and development in that time period. A full list of the recipients can be found on the Ministry's website.