Notice to the Research Funding New Zealand Board (“Board”) for the 2026 Marsden Fund Round. In this notice, I:

1. Specify, under section 10(3)(b) of the Research, Science, and Technology Act 2010, that the Board is to make certain funding decisions on proposals to the 2026 Marsden Fund Round;
2. Set the criteria for assessing proposals under section 8(1) of the Research, Science, and Technology Act 2010;
3. Specify the total value of funding available for the Research Funding New Zealand Board to award to proposals; and
4. Specify the funding mechanism to be used, and the value and duration of investment under those mechanisms.

General policy objectives

The Marsden Fund encourages New Zealand’s leading researchers to explore new ideas that may not be funded through other funding streams and fosters creativity and innovation within the science, innovation and technology system. Exploring new ideas results in greater potential to develop new technologies, products, boost economic growth, and enhance New Zealand’s quality of life.

The Marsden Fund invests in excellent, investigator-led research that generates new knowledge with potential long-term economic, environmental or health benefit for New Zealand.

The Marsden Fund supports excellent research projects that advance and expand the knowledge base and contributes to the development of people with advanced skills in New Zealand. The objectives of the Marsden Fund are to:

1. enhance the quality of research in New Zealand by creating increased opportunity to undertake excellent investigator-led research.
2. contribute in the long-term to economic, environmental, or health impacts for New Zealand.
3. support the advancement of knowledge and technology in New Zealand and contribute to the global knowledge base.
4. contribute to the development of advanced skills in New Zealand, including support for continuing training of post-doctoral level researchers and support for the establishment of early careers of new and emerging researchers.
5. support research where there is a clear rationale for the research to be undertaken in New Zealand.

Interpretation

For the purposes of this notice (and the Schedules to this notice) the terms:

Vision Mātauranga policy means the government policy which aims to enable the distinctive research, science and innovation potential of Māori people, knowledge and resources.

2026 Marsden Fund Round means the call for proposals made in 2025 and for which funding decisions are announced in 2026.

Investment Plan means the Marsden Fund Investment Plan dated November 2025, approved by the Minister and published on the Royal Society – Te Apārangi website: https://www.royalsociety.org.nz.

Board’s funding decisions

The Board is to make funding decisions about which full proposals will receive funding for the 2026 Marsden Fund Round.

In making its funding decisions, the Board will allocate funds from the Marsden Fund appropriation in Vote Business, Science and Innovation.

For context, the 2026 Marsden Fund Round provides for a transition from the Marsden Council to the Board. In 2026 the Marsden Council will make decisions to:

• invite expressions of interest to proceed to full proposals (based on eligibility and assessment criteria) in the 2026 Marsden Fund Round; and
• determine which full proposals do not meet the eligibility criteria and, therefore, will not be considered by the Research Funding New Zealand Board for funding.

Funding available and funding mechanisms

The 2026 Marsden Fund Round is fully contestable. Two funding mechanisms, Fast-Start and Standard, are available, each with an Expressions of Interest and Full Proposals stage.

The Research Funding New Zealand Board may invest up to $55.8 million of new annual funding (excluding GST) through the 2026 Marsden Fund Round. Indicative funding available for each funding mechanism is shown in the table below.

Eligibility

The eligibility criteria for Fast-Start and Standard investment mechanisms will be determined, published and applied by the Marsden Council.

Only those full proposals determined to be eligible by the Marsden Council will be referred to the Board for consideration.

Assessment criteria

The Board must use the assessment criteria in Schedules One and Two to determine which of the full proposals referred to it will be funded.

Funding decisions

The Board must make its funding decisions on proposals for the 2026 Marsden Fund Round in accordance with the:

1. Public Finance Act 1989 and the relevant Appropriation Acts for Vote Business, Science and Innovation;
2. Assessment criteria in this notice and its schedules;
3. Funding amounts as specified in the “Funding available and funding mechanisms” section of this Notice; and
4. The investment signals in the Investment Plan for the Marsden Fund.

In making its funding decisions, the Board must –

1. Ensure that each funded proposal:
1. has sufficient merit against the assessment criteria in this notice and its schedules; and
2. meets the general policy objectives set out in the “General policy objectives” section of this notice and the specific policy objectives set out in the relevant schedule of this notice.
2. Consider how the overall mix of investments made for the 2026 Marsden Fund Round align with the investment signals in the Investment Plan, including:
1. the distribution of proposals across economic, environmental and health benefit for New Zealand.
2. opportunities to fund research that supports the development of new technologies.
3. opportunities to fund research that supports interdisciplinary research that, in the long-term, may lead to transdisciplinary research outcomes.
4. enhance the delivery of outcomes in research, impact and connectivity.
5. the requirement for approximately 50% of the total funding supporting proposals with the potential to result in economic benefits to New Zealand.
6. the indicative split of funding between the Fast-Start and Standard investment mechanisms as specified in the “Funding available and funding mechanisms” section of this notice.
3. Ensure the proposed funding recipients will adhere to the terms and conditions of funding set out in a funding agreement determined by the Board.

The Investment Plan came into effect in November 2025.

This notice will come into effect on 28 November 2025.

This notice will be revoked on 31 December 2026.

Dated at Wellington this 16th day of November 2025.

Hon Dr SHANE RETI, Minister of Science, Innovation and Technology.

Schedule One

Standard funding mechanism

Specific policy objective

For any New Zealand based researcher.

Assessment criteria

Research

• Proposals must have the potential to lead to quantifiable impacts because of the proposal’s novelty, originality, insight and ambition.
• Proposals must be rigorous and should have a basis in prior research and use a sound research method.
• The research team must have the ability and capacity to deliver.

Benefit

• Proposals must demonstrate why the research could be of economic, environmental, or health benefit to New Zealand.
• Proposals should demonstrate a clear rationale for the research to be undertaken in New Zealand.
• Proposals should develop research skills in New Zealand, particularly those at the post-doctoral level and emerging researchers.

Vision Mātauranga

Where applicable, proposals must consider the relevance of the Vision Mātauranga policy. We expect that Vision Mātauranga will not be relevant to all proposals. Proposals that give effect to Vision Mātauranga should demonstrate the relevance and use of a fit-for-purpose approach.

Value and duration of funding

Investments made under the Standard mechanism will:

• have a duration of up to and including three years; and
• a maximum total contract value of $720,000 to $960,000, depending on the disciplinary area

Schedule Two

Fast-Start funding mechanism

Specific policy objective

The Fast-Start programme is targeted at early-career researchers who are employed at New Zealand universities, Public Research Organisations (PROs) and other research organisations, and who are trying to establish independent research careers and create research momentum.

Assessment criteria

Research

• Proposals must have the potential to lead to quantifiable impacts because of the proposal’s novelty, originality, insight and ambition.
• Proposals must be rigorous and should have a basis in prior research and use a sound research method.
• The research team must have the ability and capacity to deliver.

Benefit

• Proposals must demonstrate why the research could be of economic, environmental, or health benefit to New Zealand.
• Proposals should demonstrate a clear rationale for the research to be undertaken in New Zealand.

Vision Mātauranga

Where applicable, proposals must consider the relevance of the Vision Mātauranga policy. We expect that Vision Mātauranga will not be relevant to all proposals. Proposals that give effect to Vision Mātauranga should demonstrate the relevance and use of a fit-for-purpose approach.

Value and duration of funding

Investments made under the Fast-Start mechanism will:

• have a duration of up to and including three years; and
• a maximum total contract value of $360,000.