November 22, 2010
New Zealand' aquaculture sector may get US$318,617 government fund
New Zealand's aquaculture ventures can obtain NZ$410,000 (US$318,617) in government funding through the third round of a contestable fund.
Economic development minister, Gerry Brownlee, said the goal of the aquaculture market development contestable fund was to support a small number of quality projects with the ability to enhance profitability and competitiveness of New Zealand's aquaculture industry.
The fund is administered by New Zealand Trade and Enterprise on a dollar-for-dollar match basis.
Since its launch in the previous year, more than NZ$1.1 million (US$853,965) in co-funding has been given.
"The additional funding will help New Zealand aquaculture companies grow and succeed in key international markets, which will in turn help the wider industry achieve its growth target of NZ$1 billion (US$776.1 billion) in revenue by 2025," Brownlee said.
