Editorial: Government right to stoke innovation

Trade Me founder Sam Morgan has had a go at the Government’s big “innovation” fund.

Callaghan Innovation, named for the late scientist Sir Paul Callaghan, gave out $270 million last year to encourage hi-tech companies to spend more on research and development.

When it announced its latest grants this week – another $32m for 22 businesses – Morgan let rip about the “stupid” scheme.

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