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Budget 2013 has recognised the importance of the Marsden Fund to New Zealand’s science and innovation system with a funding increase of $20 million over four years.

“This year’s increase for the Marsden Fund reaffirms Government’s on-going support for fundamental, investigator-led research. Since 2008 we have increased support for the Marsden Fund by 37 per cent,” Science and Innovation Minister Steven Joyce says.

The funding forms part of the $100 million a year internationally focused growth package, which is a centrepiece of Budget 2013.

Budget 2013 is investing nearly $130 million into Callaghan Innovation to encourage businesses to invest more in research and development, and to support new start-ups.

“Business innovation is crucial for New Zealand companies to compete and win in the tough international environment we have today,” Science and Innovation Minister Steven Joyce says.

Budget 2013 delivers on the Government’s commitment to building a more competitive and productive economy with $200 million of new funding over the next four years for science and innovation, Science and Innovation Minister Steven Joyce says.

“Science and innovation are key drivers of economic growth and international competitiveness. To achieve this, New Zealand needs to develop better linkages with international markets and be a stronger player in research and development,” he says.

The Government has today announced the final 10 selected National Science Challenges and a $73.5 million boost over four years to fund them, as part of Budget 2013.

“The National Science Challenges will tackle some of the biggest science-based issues and opportunities facing New Zealand,” Minister of Science and Innovation Steven Joyce says.