Government unveils $130 million boost to research and innovation


The Government has unveiled $130 million of new spending to boost research and innovation by Crown bodies.

The money is part of a $400m package, most of which was announced in the Budget.

The overall package includes funding for the government's loan scheme designed to encourage businesses to invest in innovation; and $33m for Māori research and development opportunities.

The new spending announced today comes from the $50 billion COVID-19 Response and Recovery Fund.

About $120m will be spent on the Crown Research Institutes over 4 years, while $10m has been announced to cover the revenue losses at Callaghan Innovation.