Fri 10 Dec 2010

$1.4m Technology R&D Grant Awarded to Gentrack

10 December 2010: Gentrack, a leading provider of innovative utility billing and CRM software, announced today it has been awarded a $1.4m R&D grant under the Government’s Technology Development Grant programme. 
Research, Science and Technology Minister Wayne Mapp announced the selection of 26 of the country’s leading technology companies, including Gentrack, for a share of the $92m development fund allocated for “businesses that have the ambition to grow through research and development”.
Gentrack CEO, James Docking acknowledged the grant following the announcement. “This grant is significant for our business and caps off an incredible year. We have now turned our attention to 2011 which will see Gentrack delivering some major projects offshore to support smart metering, smart grids and water industry reforms.”
“Our strategy of retaining R&D in New Zealand and employing local talent to support international growth is now paying dividends, and is a key driver behind our positioning on the global stage as a credible value based software house” says Docking.
“We have a growing pool of graduate and experienced technical resources – ready to develop and deliver our products internationally. This approach provides us with the agility we need to get projects over the line where our much larger competitors can’t“.
Gentrack recently relocated to its new global head quarters in College Hill Auckland, a sign of its commitment to investing locally to drive innovation and growth offshore.
“Now that we are in our new and much larger global head quarters, we have room for significant expansion to deliver our R&D roadmap. The demand for innovating our smart software solutions is stronger than ever and continues to be fuelled by the Smart Grid boom in the energy sector and water industry reforms worldwide.”
25 other companies including Rakon, Fisher & Paykel , Weta Digital and Zeacom received grants, recognition of the Governments continued support for technology innovation and export led growth.
“It’s great to see the Government getting behind proven, performing and local companies like Gentrack” concluded Docking. “We have continued to build a positive return to the economy through development of our own technologies and associated IP.  This grant will ensure more rapid R&D and commercialisation of our leading software products.”