Up to $55 million a year is being made available for investment into science and research through the government’s Endeavour Fund Investment Plan.
Science, Innovation and Technology Minister Judith Collins has released details of the fund, saying it is in line with the government’s focus on growth and rebuilding the economy, which requires a science sector that drives high-tech, high-productivity and high-value businesses and jobs.
“Commercialisation is essential to realising the social and economic potential of our science, innovation and technology system,” she said in a statement.
The 2025-2027 investment plan will focus on projects that enable wealth creation through developing new knowledge that lifts New Zealand’s economic performance, supports adaptation to climate change, and builds a resilient and prosperous society.
Applications must also support the growth of the country’s base of innovative, high-value exporting technology firms.
Funding applications will be contestable and decided by a Science Board, which will provide funding contracts for between two and five years.
The fund will use targets to achieve the government’s goals, with 70% available for projects that have an economic outcome, 25% environmental and 5% societal.
Funding guidelines will allocate 20% for smart ideas and 80% for research programmes.
In Focus Podcast | National Science Challenge faces end of funding
With our regular host Bryan Gibson still laid low with covid this week, senior journalist Richard Rennie talks to Joanne Todd, National Science Challenge director for high-value nutrition.
After a decade of ground-breaking research, four patents, 137 products researched and 60 business partnerships funding came to an end in June, along with funding for the country’s other 11 National Science challenges.
Joanne outlines the work done to date, and the impact the end of funding is likely to have, bringing a period of major uncertainty to the scientific community, and to a key plank in the government’s goal of doubling NZ’s exports within the next 10 years.
