Direction to: The Foundation for Research, Science and Technology ("the foundation").
Under section 8A of the Foundation for Research, Science, and Technology Act 1990, I direct the foundation to allocate funds in accordance with the International Investment Opportunities Fund ("the scheme") specified in this notice.
Nature of the Scheme
The intended outcome of this scheme is to increase the ability of New Zealand researchers to participate in research collaborations that attract international co-funding, to recruit highly experienced researchers from overseas and to support participation in international research programmes with a high relevance to New Zealand's economic, social and/or environmental development.
The scheme will be used to secure benefits for New Zealand in terms of research funding, access to equipment or technologies not available in New Zealand and ensuring advanced skills are matched to areas of strong growth.
The foundation will work with the Health Research Council of New Zealand (HRC) and the Ministry of Research, Science and Technology to develop and implement priorities, and work with the HRC to invest the fund each year. The scheme will give priority to opportunities involving bilateral partners identified in the Government's Research, Science
& Technology International Linkages Strategy.
Scheme Objectives
Projects that meet the scheme's objectives are eligible to receive funds from the foundation.
The scheme's objectives are:
? Objective One: To provide funding to enable
New Zealand researchers to respond to out-of cycle opportunities to gain access to international research programmes and associated funding streams;
? Objective Two: To establish joint funding pools with other countries to facilitate research programmes of joint interest; and
? Objective Three: To assist world-leading researchers, working in key areas of strategic interest to New Zealand, to relocate to New Zealand and establish a research team.
In making funding decisions, the foundation will fund those programmes that, in its view, best meet the following criteria:
? Scientific and technological quality; and
? potential benefit to New Zealand; including the ability
to utilise overseas expertise and advances in science
and technology, and the contribution to New Zealand's research, science and technology goals.
Operating Principles
In running the fund, the foundation will:
? seek commitment from the research institutions submitting proposals to provide infrastructural support and organisational co-funding for successful projects;
? seek to leverage New Zealand funding to ensure the best outcomes for New Zealand research and researchers;
? seek to ensure benefit to New Zealand is captured for the wealth and wellbeing of New Zealanders; and
? ensure the process is flexible and responsive to opportunity.
The Mechanism
The scheme has three separate but interlinked objectives-
Objective One of the scheme is intended to provide a mechanism for New Zealand researchers to gain entry into overseas research programmes and funds that, due to timing, would not otherwise occur as part of the standard investment cycle. The funds under this objective should be invested contestably and sufficiently frequently to meet out-of cycle opportunities.
Funds will be provided by the international investment opportunities fund to meet the following needs:
? Providing seeding or bridging funding to underwrite the New Zealand share of the costs of a joint research proposal with international partners, until these can be accommodated within normal funding cycles.
Under Objective Two, funds will be provided for
New Zealand research purchase agencies to establish a diversity of joint funding pools with overseas funders, including:
? developing research opportunities for New Zealand in strategic partnership with overseas funding agencies; and
? investing in targeted research capacity development initiatives in partnership with overseas funding agencies.
Objective Two will be administered on a contestable basis and aim to encourage a range of partnerships.
Under Objective Three, funds may be provided to assist world-leading researchers, working in areas of strategic interest to New Zealand, to relocate to New Zealand.
Costs covered by this objective may include:
? relocation costs;
? research funding until a researcher can be accommodated within normal funding cycles; and
? salary costs.
Objective Three requires co-funding and support from a host institution.
Allocation of Funding
Funds available to the scheme will be published each year in the estimates of appropriations.
Period of Operation
The scheme commenced operation on 1 September 2004.
Its continuation and mode of operation will be reviewed after two years.
Monitoring Agency
Monitoring and review of the scheme, including of the implementation of this Ministerial notice by the foundation and the extent to which the scheme achieves its stated objectives, will be carried out by the Ministry of Research, Science and Technology.
Dated this 23rd day of August 2004.
PETE HODGSON, Minister of Research, Science and Technology.