The New Zealand Institute of Crop and Food Research has received $2.2 million over three and a half years from the government’s new Pre-seed fund that aims to bridge the gap between generating new knowledge and creating an 'investor-ready' commercial prototype.

The company’s general manager, investments, James Anderson, says the funds will be dedicated to early stage commercialisation projects within Crop & Food Research.

“We have a range of commercial research projects which have potential to add value to the New Zealand economy. What we have lacked in the past is the funding to progress them to the next stage of development.”

Mr Anderson says the company has a number of projects earmarked for the funding and will be moving ahead with them in the new year.

The new Pre-seed Accelerator Fund (PSAF) is managed by the Foundation for Research, Science and Technology.