R&D grants and innovation news: Budget 2019 R&D initiatives

Through Budget 2019 the Government will invest an additional $132 million of funding over 4 years for research, science and innovation. This is expected to grow total Government investment by 22% from $1.672 billion in 2018/19 to $2.047 billion in 2020/21.

The $132 million of new operating expenditure allocated to vote science and innovation over the next four years includes:

$25 million for the redevelopment of the Callaghan Innovation Gracefield Innovation Quarter.

$25.5 million for a package of initiatives intended to promote the commercialisation of innovation, including increased support for the Commercialisation Partner Network Fund and the PreSeed Accelerator Fund and scaling up the Technology Incubator programme.

$18 million into an Industry Futures (Bioresource Processing Alliance and Product Accelerator) initiative. This funding will allow the continuation of these two programmes. The Product Accelerator helps develop technologies which create new products, new market opportunities and grow New Zealand’s exports. The Bioresource Processing Alliance (BPA) co-funds and co-develops innovative products or processes to turn low-value biological waste streams into new high-value products.

$10 million into the Innovative Partnerships Programme which is run by MBIE, and designed to attract globally leading firms and innovators to New Zealand. This programme develops New Zealand’s competitive advantage as a location for R&D investment.

$9.57 million to fund the continued operation of the New Zealand Food Innovation Network, while a new, more sustainable funding model is developed.

$20 million into advanced energy technologies research. The investment will be delivered through the ‘Advanced Energy Technology Platform’ – a new platform under the Strategic Science Investment Fund.

$20.75 million for the development of tools to help manage kauri dieback.

$25 million will be invested in the further development of tools and technologies to transition New Zealand’s agricultural sector to a sustainable, low-carbon future. This investment is comprised of $3.2 million of new operating expenditure and $21.7m of reprioritised funding.