Government invests $92 million in hi-tech research

Government invests $92 million in hi-tech research

Ministry of Business, Innovation and Employment announces projects receiving funding in second 2012 science investment round

The government has announced it is investing $92 million over six years towards funding hi-tech research at 31 universities, Crown Research Institutes (CRI) and private companies as part of the Ministry of Business, Innovation and Employment's second 2012 science investment round.

Funded projects include non-invasive cancer imaging (University of Otago), micro-fabrication machines using lasers (University of Auckland), and pharmaceutical manufacturing technology (Industrial Research Limited).

The funded projects will contribute towards the nation's hi-tech export economy, says Steven Joyce, Science and Innovation Minister.

"The projects that are being funded have significant export potential. Our top ten high-tech companies export $4 billion of product a year but we need more businesses to grow to this size," says Joyce.

"New Zealand businesses need to lift their spending on R&D and I am pleased to see that almost half of these successful research projects are co-funded by the firms that will directly benefit from the work."

Last month MBIE announced $133 million towards other scientific research.

A full list of funded projects can be seen here.

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