The government is putting $92 million into research to boost high-tech manufacturing.
Science and Innovation Minister Steven Joyce says the 31 projects that are being funded have "significant export potential".
They range from early cancer detection technology to new nano-technology materials.
"Our top 10 high-tech companies export products worth $4 billion a year but we need more businesses to grow to this size," Mr Joyce said on Wednesday.
"New Zealand businesses need to lift their spending on research and development and I'm pleased to see that almost half of these successful research projects are co-funded by the firms that will directly benefit from the work."
The money will be spread over six years.