NZBIO supports investment in innovation

NZBIO supports investment in innovation

“NZBIO is pleased to see today’s Budget support New Zealand’s solid foundation of capability and knowledge in the life sciences,” NZBIO Chief Executive Bronwyn Dilley says.

“Budget 2009 recognises the critical role science and technology will play in this country’s path to economic recovery through substantial funding for critical areas of New Zealand’s bioeconomy.

Today’s Budget announcement included:

An extra $10 million per annum over four years to the Crown Research Institute Capability Fund, representing a 20% increase in funding.

Funding of $9 million per annum over four years for the Marsden Fund, representing a 24% increasing in funding.

$8 million per annum over four years for the Health Research Council to invest in innovation in health delivery and targeted areas of health research, representing a 13% increase in funding.

$30 million per annum for 2009/2010 increasing to $70 million per annum in 2012/2013 for the new Primary Growth Partnership, with Government investment matched dollar for dollar by industry in primary sector innovation.

New funding of $1 million per annum over four years for the Prime Minister’s Science Prizes, providing a funding boost for the winning scientists and shining a spotlight on excellence in science.

“NZBIO believes the life science sector has an important role to play in helping meet current and future challenges in the environment, human healthcare, primary production and the economy,”Ms Dilley adds.

“Today’s Budget is an encouraging signal that the New Zealand Government recognises both the potential and the achievements of the life science industries.

“We know that one of the greatest challenges facing innovative industries is access to funding. As the industry organisation for New Zealand life sciences companies NZBIO is also aware that this country must be a competitive environment to do business if we are to attract and retain innovative companies and people.

“New Zealand’s prosperity and future security relies on our ability to make full use of the considerable scientific expertise this country is privileged to have. Today’s Budget is a clear signal that New Zealand’s Government is investing in the future.”

ENDS

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