Updated June 2026

Non-dilutive funding NZ: what should you check first?

Non-dilutive funding can be attractive because it may avoid equity dilution, but it is not always faster, easier or better than capital or finance.

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Short answer. This page is a route-map guide, not an eligibility assessment. Use it to decide which official source or adviser to check first.

What non-dilutive means

Non-dilutive funding usually means support that does not require selling shares. In New Zealand this may include grants, tax credits, rebates, co-funded programmes, export support, research partnerships or some sector support.

Where it can fit

  • R&D activity with evidence and eligible expenditure
  • first-time R&D capability-building
  • export market-entry support
  • energy, decarbonisation or sector projects
  • student or graduate R&D capability

Where it may not fit

  • general working capital
  • unclear projects
  • runway for venture-style growth
  • sales execution with no programme fit
  • businesses unable to co-fund

What to compare

Compare the non-dilutive route with capital, bank finance, customer revenue and adviser preparation. The best route depends on project type, timing, evidence, matched funding and strategic cost.

Official sources to check

RDTIBusiness.govt.nz innovation fundingNZTE

Sources and review status

Last reviewed: June 2026.

Official sources checked: IRD, MBIE, business.govt.nz, NZTE, NZGCP, EECA and MPI, as relevant.

NZ Funding Pathways is a free resource funded by PH Capital Advisory.

General information only. Check the current official source and speak with the relevant adviser before acting.

This page provides general information only. It does not provide tax, accounting, legal, financial, investment or eligibility advice, and it does not guarantee funding.