Emirates Team New Zealand gets Kiwi government funding

by NZ Herald

Photo by Chris Cameron

Photo by Chris Cameron

The Kiwi syndicate has been selected to receive Callaghan Innovation Growth Grant – the same scheme that has assisted Emirates Team NZ’s key rivals and America’s Cup holders Oracle Team USA. Oracle’s Warkworth-based boat-building operations, Core Builder Composites, was confirmed as a recipient of the grant in August 2014.

The grant gives taxpayer funding of 20 per cent of its R&D spend, up to a maximum of $5m for three years, plus GST. Companies can therefore get theoretical maximum funding of $17.25m.

Leave a Reply

Your email address will not be published. Required fields are marked *