Grants allocated by Science and Innovation Minister Steven Joyce this week will provide 12 future innovators the opportunity to work in some of the Bay of Plenty's top commercial research and development facilities.

Demand for the internships was high, with interest in the 2013 grants exceeding available places. In total, 220 undergraduate and 71 postgraduate internships have been made available with the $147,600 allocated.

Science and Innovation Minister Steven Joyce is providing 12 future innovators with grants.

The funding allows research and development active businesses in the Bay of Plenty region to employ students with science, technology, engineering, design, or marketing degrees. A total of $3.5million worth of R&D student grants is paid out nationwide.

Bay of Plenty-based funded projects includes developing a mating plan to maximise the genetic value of seed produced, integration of a novel fibre technology and natural product extracts for skincare product development, and design and development of a novel drill-bit device for use in keyhole surgery.

Comvita New Zealand Ltd gets six undergraduate internships, and Pingar Holdings Limited, PlusGroup Horticulture Limited, Titanium Industry Development Association Incorporated get one each.

'The high level of interest shows the great appetite among New Zealand companies to work with our future innovators, who not only get to gain and develop technical skills in a commercial R&D environment but also greatly benefit the businesses they work for,” says the Minister.

'High calibre proposals were submitted by some of our most innovative high tech companies as well as a great number of ambitious new start-ups who recognise the value of innovation and the need to provide career development opportunities for our future innovators.”

'These R&D Student Grants will enable a wide range of innovative businesses to hire talented students. This is a win-win result for the students' career development and the acceleration of the business' R&D projects,” says Steven.

Based on an annual salary of $60,000, the postgraduate R&D student grants provide companies with 50 per cent of annual salary costs up to $30,000 plus GST, to cover the salary of the postgraduate for the first six months.

The undergraduate R&D Student Grants provide companies with funding of $16 per hour for up to 400 hours of work for a maximum of $6400 excluding GST.

Details of the businesses approved for funding under the 2013 R&D Student Grants scheme can be found on www.callagahaninnovation.govt.nz

The successful companies will advertise the internships, administered by Callaghan Innovation, on the NZUniCareerHub: www.nzunicareerhub.ac.nz and by the University of Waikato through the Cooperative Education.