Research, Science and Innovation Minister Megan Woods today released the revised 2019-2021 Endeavour Fund Investment Plan, with new investment signals to support the Government’s aim of transitioning to a more sustainable economy.
The Endeavour Fund supports over $200m of research each year, investing in ambitious research ideas with the potential to transform our economy, environment and society. It will invest $58m of new annual funding between 2019 and 2021.
The Government’s vision for New Zealand puts the long-term well-being of people and the environment at the heart of what it does, Dr Woods said.
“That’s why the Endeavour Fund will now be guided by investment signals that reflect the Government’s priorities of growing R&D intensive industries, and transitioning to a low emissions economy. These new signals will initiate much needed research into both areas.
“Research, science and innovation will make a vital contribution towards improving kiwi’s lives by informing and improving how we respond to the social, economic and environmental challenges we face.”
The new investment plan also introduces a new approach to supporting higher-risk, transformational Research Programmes proposals. This is to encourage research proposals in emerging areas where impact initially can be harder to assess, such as technologies, and goods and services which are new to New Zealand, or new to the world, Dr Woods said.
Other key settings of the Endeavour Fund remain unchanged.
The Science Board will continue to make funding decisions, and excellence and impact will continue to be key assessment criteria.
The Fund will continue to support research with a broad range of economic, environmental and social impacts beyond the new investment signals.
The Investment Plan is a guide for researchers and scientists to apply for funding, and will cover the next three rounds from 2019 to 2021.
More information on the 2019-2021 Endeavour Fund Investment Plan can be found can be found HERE on the Ministry of Business, Innovation and Employment’s website.