Direction to: The Foundation for Research, Science, and Technology (“the foundation”).
Under section 8A of the Foundation for Research, Science, and Technology Act 1990, the foundation is directed to allocate funds in accordance with the New Economy Research Fund Scheme (“the scheme”) specified in this notice.
This direction revokes and replaces the direction, establishing the scheme, issued to the Foundation
for Research, Science and Technology by the Minister of Research, Science and Technology, on the 1st day
of November 1999, and published in New Zealand Gazette, 18 November 1999, No. 173, page 4102.
Allocation of funds under the scheme must be consistent with the direction issued to the foundation under section 103 of the Crown Entities Act 2004, which came into effect on the 8th day of May 2006, and published in New Zealand Gazette, 18 May 2006, No. 47, page 1183, as that direction may be amended from time to time.
The New Economy Research Fund Scheme
The Nature of the Scheme
The New Economy Research Fund will facilitate research through supporting researcher-led innovation aimed at developing capability and knowledge in new areas or applications where industries are emerging or yet to
emerge, in order to underpin new high-technology business opportunities.
The focus of the research should be on targeted basic research and human capital that will underpin new enterprises and new sectors.
The scheme is not restricted to any type of research provider.
Research providers must be able to demonstrate the capability to carry out the proposed research themselves.
The Objectives of the Scheme
The primary objective of the scheme is to underpin new or emerging knowledge-based enterprises in New Zealand through:
? supporting investigator-initiated basic research that
has the potential to create the advanced technological platforms that will underpin new and emerging industries;
? building a critical mass of research capability and new knowledge in emerging science and technology areas;
? developing advanced human capital and skills that
draw from rapidly advancing international science and technology; and
? developing new areas of knowledge to a point where they may be further developed, sustained and/or exploited through other public or private investments.
Principles for Determining Research Support
The scheme will support research proposals that:
? meet international standards of excellence;
? seek to build new areas of knowledge and research groupings in areas extending beyond existing industry boundaries;
? build human capital in advanced science and technology that may underpin the emergence of new industries;
? are initiated as a basic research concept or idea, and develop towards a research-led commercial opportunity; and
? involve research based in New Zealand, but which
may include appropriate international collaboration to maximise the benefit to New Zealand.
It is recognised and accepted that the research supported by the scheme may generate uncertain or unpredictable results.
Funding Estimate
The amount of funds available for the scheme is estimated
at $61.586 million. Actual funding will be published in the annual Estimates of Appropriation.
Timing Estimate
It is estimated that the scheme will operate for a minimum of five years from the date of this notice.
Monitoring
The foundation’s management of the scheme will be monitored by the Ministry of Research, Science and Technology.
Dated at Wellington this 20th day of July 2006.
STEVE MAHAREY, Minister of Research, Science and Technology.