R&D and innovation news: $255.6 m boost for science and innovation
Through Budget 2017, the Government will invest a further $255.6 million in a mixture of new and existing science and innovation initiatives over the next four years to drive excellent, high-impact science and increased international connectivity.
The initiatives include:
- $21 million for Antarctic Science which will provide a stable funding platform for strategic, underpinning Antarctic research
- $19.5 million to enhance New Zealand’s earthquake, tsunami and volcano monitoring capability
- An additional $81.9 million for the Endeavour Fund to grow the amount of excellent research with the potential for long-term, transformative impact
- $6 million for the expansion of the Innovative Partnerships Programme to attract multinational companies to New Zealand to undertake R&D activity
- A further $74.6 million to meet the rising demand for Callaghan Innovation’s business R&D Growth Grants
- An increase of $52.5 million for high-performing research-based institutions through the Performance-Based Research Fund (PBRF). While the PBRF is a Tertiary Education initiative, it counts towards the Government’s overall Science and Innovation investment.