Applications called for PGPs

The PGP is a government-industry initiative launched in September2009 to invest in significant programmes of research and innovation that will boost the economic growth and sustainability of New Zealand's primary, forestry and food sectors. It has so far committed nearly $600 million of multi-year funding.

PGP Application Round Eight has just opened, and applications must be received by midday, Tuesday, October 16, 2012.

Six applications were received for Round Seven, held in April 2012.

Of these, three have been approved by the PGP Investment Advisory Panel to develop and present a business plan (two of them after providing further information); one applicant group has been asked to provide a revised proposal and two were declined.

PGP manager Joseph Montgomery says with several projects from previous rounds already in the pipeline, it is possible that Round Eight could be the last for some time as the PGP fund is close to being fully allocated.

"We recognise that the lead times for developing projects can be quite long, so we believe it is fair to signal that the PGP fund is nearing full allocation for the immediate future."

The Investment Advisory Panel will advise Round Eight applicants of results in mid-December 2012.