Additional Budget 2020 funding announced today for research, science and innovation

The Government has today announced additional funding for research, science & innovation as part of Budget 2020 and the COVID Response and Recovery Fund, bringing the total package to $401.3 million package over 4 years. This continues to highlight the government’s support for the science system as a key component of economic recovery post-COVID-19.

Budget 2020 and the COVID Response and Recovery Fund includes:

• $196 million to ensure that Crown Research Institutes are set up for success and can retain key capabilities in the workforce.
• $150 million Research & Development Loan scheme to provide immediate cash support to R&D-performing businesses.
• $10 million to assist Callaghan Innovation to maintain in-house R&D capability to serve New Zealand businesses, particularly early stage R&D intensive companies.

Details of all Research, Science and Innovation initiatives funded through Budget 2020 can be found on the MBIE website.

More information about the Research & Development Loan Scheme(external link) can be found on the Callaghan Innovation website.