Growth-Promoting Science And Innovation Backed

Thursday, 22 May 2025, 2:19 pm
Press Release: New Zealand Government

Hon Dr Shane
Reti
Minister of Science, Innovation and
Technology

The Government is backing modern,
commercially-focused science and innovation to fully realise
the contribution it can make to economic growth and the
wellbeing of New Zealanders, Science, Innovation and
Technology Minister Dr Shane Reti announced
today.

“Budget 2025 reprioritises
existing funding towards new growth-promoting investments in
science and innovation. The changes will enable safe use of
gene technology and secure the long-term success of the
science and innovation system,” Dr Reti
says.

“New Zealand has some of the best
researchers in the world, but our publicly funded research
institutes have lacked incentives and clear pathways to
commercialise their research.

“We need publicly
funded research to focus on economic growth. We want
researchers to use cutting-edge science to solve real-world
problems that can be commercialised or help us to prepare
for the impacts of natural hazards or climate
change.

“Through Budget 2025, we are providing
funding to support the establishment of three new public
research organisations focused on bio-economy, earth
sciences and health and forensic sciences. They will be
charged with seizing new opportunities and translating ideas
into successful commercial enterprise.”

Budget 2025
also funds a new gene technology regulator to support safe
and effective use of gene technology from 2026, following
the passing of legislation.

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“Gene technology has
enormous potential to improve healthcare, help communities
adapt to climate change, boost exports and lift agricultural
productivity.

“But New Zealand has been held back by
some of the most stringent regulations on gene technology in
the world. Our competitive advantage is being eaten away by
other countries where gene technology is permitted,” Dr
Reti says.

Budget 2025 also invests in the long-term
success of the science system by funding the newly
established Prime Minister’s Science, Innovation and
Technology Advisory Council.

“We must have an eye on
emerging opportunities to make sure we keep growing the role
of science and innovation – we must always be asking,
what’s next?” Dr Reti says.

“This council will
advise the Government on investment priorities and areas
where funding can be better targeted.

“These
investments are about ensuring that our science and
innovation system is fit-for-purpose, fosters high-value job
creation, boosts productivity, and delivers real-world
benefits to New Zealanders.”

Specific
initiatives through this Budget include:

• $20
  million over two years to support the establishment of the
  Bioeconomy, Earth Sciences and Health and Forensic Public
  Research Organisations.
• $23 million over the
  forecast period to establish the dedicated gene technology
  regulator, as well as compliance, monitoring and enforcement
  of the new regime.
• $5.8 million over the forecast
  period to establish and operate the Prime Minister’s
  Science, Innovation and Technology Advisory Council. This
  funding will support reporting and monitoring, as well as a
  secretariat provided by MBIE.

These
initiatives are being funded by reprioritising existing
funding from the Science, Innovation and Technology
portfolio.

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