The New Zealand Government announced this week that they will invest $410.5 million over four years in science and innovation through the Innovative New Zealand package. By 2020, the annual investment in science and innovation will have increased by 15 per cent to $1.6b billion per year. This is one of the largest single investments in science and innovation in New Zealand’s history.
Science plays a core role in creating opportunities and solving problems faced by society. These Budget initiatives assist in making a visible, measurable contribution to our productivity and wellbeing through excellent science. These commitments to investment support the priority areas, and fully support the National Statement of Science Investment core principles for investment.
Science and innovation highlights:
- A total $410.5 million for science and innovation, taking the Government’s annual science investment to $1.6 billion by 2020.
- $113.8 million over four years for the newly focused Endeavour Fund, which will fund longer-term, high impact, mission-led programmes of science. Investments will be in science with a “strong potential impact” on New Zealand’s economy, environment and society and would increase in size from $182.7 million in the 2015/16 year to $200.4 million by 2019/20.
- $66 million over the next four years for the Marsden Fund, increasing the annual amount available for the Marsden Fund by 49 per cent over four years, growing it from $53.6 million in 2015/16 to $79.8 million in 2019/20. The Marsden Fund remains the country’s leading fund for “blue-skies” research.
- $63 million over four years for the new Strategic Science Investment Fund, that will support longer-term programmes of mission-led science, critical to the future of New Zealand’s economy, environment and wellbeing.
- $97 million over four years for additional health research through the Health Research Council