Photo: RNZ / Angus Dreaver
The government has released its updated Endeavour Fund Investment Plan, with $55 million a year in contestable funding available for science and research.
However, it comes after the government shut down the $80m National Science Challenges as part of cost cuts, the Te Ara Paerangi Future Pathways research and development reform programme set up under the previous Labour government, and the Wellington Science City research hub.
The funding spans the three years from 2025 to 2027, with only about a quarter available each year for new investments.
New investments would be targeted with a balance of 70 percent on economic research, 25 percent on environmental research, and 5 percent societal.
It would also have a split of 20 percent for "smart ideas" - smaller investments intended to "catalyse and rapidly test promising, innovative research ideas", and the rest for "research programmes" with "credible high potential to positively transform New Zealand's future in ... value, growth or critical need".
Science, Innovation and Technology Minister Judith Collins announced the new Endeavour Fund Investment Plan on Tuesday morning, saying it was the government's largest contestable fund investing in science and research.
"It is crucial that this investment aligns with this government's priority of rebuilding our economy," she said.
"Updates to the fund help us do this by leveraging the exceptional ideas and developments that come from our science, innovation, and technology sector. We are focused on a system that supports growth, and a science sector that drives high-tech, high-productivity, high-value businesses and jobs."
She said the investments would enable wealth creation through developing new knowledge that lifts New Zealand's economic performance, support adaptation to climate change, and support the growth of innovative technology firms.
"We are focused on a system that supports growth, and a science sector that drives high-tech, high-productivity, high-value businesses and jobs," she said.
"Commercialisation is essential to realising the social and economic potential of our science, innovation and technology system. I look forward to learning more about the impactful projects funded through future funding rounds."