FUSION Electronics has received a NZ$1.9million Technology for Business Growth (TBG) Grant from the New Zealand Government to assist in funding numerous Product Development projects over the next 18 months.
This Grant will enable FUSION to continue to develop world-leading consumer electronics products ensuring it continues to set global standards in innovation and design.
TBG Grants are viewed as an investment by the New Zealand Government, with the scheme aiming to ‘grow capability within firms by partially funding the costs of technically challenging research and development projects.’ Projects approved under this scheme must have proven that they will ‘lead to significant business growth.’
FUSION Electronics underwent a rigorous four month selection process and full company audit by the New Zealand Government’s Foundation for Research, Science and Technology to gain approval for the TBG Grant. Selection policy is extremely thorough; ‘In selecting our investments, we look for committed founders and company management who have enthusiasm, integrity, and a deep understanding of the market. These are people who will have a strong clear vision for their companies to be world leaders in their market with products, processes or services that deliver customer value.’
‘We are thrilled to have received such a great level of investment and support from the NZ Government’ said Shane McMahon, FUSION’s General Manager. ‘This will be of great benefit to our business and ensure we continue to produce world-leading products, such as our Marine and Car Stereo Units with an internal iPod dock’.
FUSION’s world-first iPod Receiver (CA-IP500) recently won the Gold Award for ‘Best Innovative Product’ at the UK’s Car Audio ICE Awards, with the Marine iPod Stereo Unit (MS-IP500) also currently a finalist for the prestigious DAME Award for Marine Electronics, to be announced at the METS Show on November 18.