Budget 2002 allocates close to $8 million in 2002-03 to support the government's growing partnership with the biotechnology, creative industries and information and communication technology sectors, Economic, Industry and Regional Development Minister Jim Anderton said today.

The funding will support the work of the taskforces established to chart the future direction for these three key sectors and will rise to around $10 million a year by 2005-06.

The sector taskforces, which report to Jim Anderton, Research, Science and Technology Minister Pete Hodgson and Information Technology Minister Paul Swain, were appointed this month. The taskforces have already started identifying opportunities for growth and highlighting roadblocks confronting these sectors.

The additional resources will provide the taskforces with significant support, including:

• analysis of the sectors and their growth potential, as well as the identification of specific high growth opportunities;
• commissioning sector specific research for taskforces and working groups; and
• assisting partnerships and joint ventures between firms in the sector and with the public sector.