Additional Budget 2020 funding announced today for research, science and innovation
Published: 03 June 2020
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.
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