BusinessNZ Welcomes Fresh Marsden Fund Focus

BusinessNZ welcomes updates to research science and innovation funding via the Marsden Fund, allowing focused investment in things that will better strengthen our economy.

Director of Advocacy Catherine Beard says support for research and development is crucial to our continued growth.

"New Zealand continues to languish in the productivity space. It’s a problem that can be partly solved through innovation. Directing the Marsden Fund to focus more narrowly on research that will help to support high-tech, high-productivity, high-value businesses and jobs is the right move.

"The rest of the world recognises the established link between increased R&D and economic growth. More research that can lead to more economic and commercial opportunities will attract the attention of our large firms doing R&D in New Zealand. Some good collaborations could come out of this kind of focus.

"New Zealand’s research and development expenditure is growing, but is still well behind the OECD average. Setting clear expectations by funding research that can boost New Zealand’s economy and living standards is a welcome step toward a better tomorrow."

The BusinessNZ Network has recently released a report on support for business R&D in New Zealand, and why it is crucial. It is available on the BusinessNZ website.

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