Budget 2017 will invest an additional $81.9 million of new operating funding over four years to support high-impact, mission-led programmes of science through the Endeavour Fund, Science and Innovation Minister Paul Goldsmith says.
“The Endeavour Fund supports excellent, higher-risk research with the potential for long-term, transformative impact in areas of future value, growth or critical need for New Zealand,” Mr Goldsmith says.
This brings the Government’s total investment through the Endeavour Fund, New Zealand’s largest contestable science fund, to $829.2 million over the next four years.
“This additional funding will allow more quality proposals that have a high potential impact on our economy, environment and society to go ahead. Investing in the work of our scientists is also vital for developing a truly resilient and diversified economy,” Mr Goldsmith says.
The Endeavour Fund complements the Government’s other investments in mission-led science. Increased funding demonstrates the Government’s commitment to creating a highly dynamic science and innovation system that enriches New Zealand and lifts our productivity and living standards.
“Budget 2017 demonstrates the Government’s ongoing commitment to delivering on the vision set out in the National Statement of Science Investment, to create a highly dynamic science system that enriches New Zealand, making a more visible, measurable contribution to our productivity through excellent science,” Mr Goldsmith says.
Budget 2017 adds $255.6 million over four years of funding for science and innovation, growing total Government investment in science and innovation by 26 per cent from $1.32 billion in 2015 to $1.66 billion by 2021. This builds on the $410.5 million investment through Budget 2016.