15 Oct 2021

Tech firm says funding changes left it scrambling for cash

From Morning Report, 6:44 am on 15 October 2021

A tech firm behind a Covid-19 antibody test being fast tracked for sale in the US, says changes to funding left it scrambling for cash.

In April, the government scrapped a quarterly cash research and development grant in favour of a tax-credit scheme.

It means many tech firms are not able to access funding for at least a year.

The government is promising a fix, but the IT sector says some businesses are already considering leaving New Zealand.

Emma Hatton reports.