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RNZ News
28-05-2025
- Business
- RNZ News
Science sector faces biggest overhaul in decades, warns cuts will put new research at risk
[xh ]Science cuts could come at the cost of new and research, sector warns Samples at an Auckland laboratory. Photo: Nick Monro / RNZ The administrators of a leading science fund fear cuts as part of the sector's biggest overhaul in decades could come at the cost of new and innovative research. Budget 2025 allocated just over $813 million for business, science and innovation. Almost three quarters of that, nearly $577m, was dedicated to rebates for international filmmakers, leaving about $236m for science and innovation. The budget funded major science reform through the reallocation of money from funds dedicated to research and innovation, with much of the $212m repurposed for new government initiatives. The Science Minister said the reprioritisation of funds would help unleash the long-term potential of the new science system. However, administrators of the blue-skies research Marsden Fund are worried cuts will curb innovation and evidence-based solutions at a time when they are needed most. Much of the $212m reallocated from research and innovation funds such as the Health Research Council, Marsden Fund and Strategic Science Investment Fund, would help set up an office to oversee changing gene technology rules as well as an agency to attract foreign investors. Eighty-four million dollars of repurposed funds were slated for Invest New Zealand over four years and close to $23m to establish a new Gene Technology Regulator over the same period, while the merging of Crown Research Institutes into three of the four new public research organisations was allocated $20m over two years. Money found in the disestablishment of Callaghan Innovation would contribute to the new science landscape. Photo: RNZ / Rebekah Parsons-King Money found in the disestablishment of Callaghan Innovation would also contribute to the new science landscape, such as the formation of the Science, Innovation, and Technology Advisory Council - nearing $6m over five years. However, $38m of reallocated money was set aside for Callaghan Innovation's shutdown, with another $20m to keep its Gracefield Quarter running for another year, while the government decided its future. The chair of the Marsden Fund Council, Professor Gill Dobbie, said Budget 2025 resulted in a $5m funding cut over three years, and suspected that would come at the cost of new research projects. The 30-year-old fund, established to support excellent fundamental and blue-skies research, was allocated just under $79m in the 2025/2026 financial year. The Science Minister's office confirmed that funding for Marsden would be cut in stages over the next couple of years, with a new baseline funding of $71m from 2028/29. For the 2025 funding round, the Marsden Fund Council anticipated just over 100 projects - from a total of 978 proposals - would receive grants from about $80m in available funding. Science Minister Shane Reti. Photo: RNZ / Marika Khabazi Projects typically received funding for three years of research, Dobbie said, therefore already contracted researchers would be prioritised when the cuts came in. "There likely will be a reduction in [the] number of new grants we can award each year from 2026/27," she said. "The Marsden Fund Council will review the amount committed through existing research contracts and then determine the number of new grants that can be awarded." In a post-budget statement, the fund's administer, the Royal Society of New Zealand, said the budget cuts came at a time when New Zealand needed "innovation, critical thinking, and evidence-based solutions more than ever" and followed changes to the Marsden Fund last year, that saw support for social sciences and humanities research dropped, and an increased focus on research with the potential for economic benefit. Royal Society chief executive Paul Atkins expressed concern that funding cuts would "effectively reduce the amount available for active research projects". "The capability of our research sector has taken years to build up, and we risk losing talented, knowledgeable, and highly skilled experts." Meanwhile, the Ministry of Business, Innovation, and Employment (MBIE) has cancelled the 2026 funding round for its contestable Endeavour Fund to focus on the merger of Crown Research Institutes into new mega science entities. The $55m Endeavour Fund supported research via Smart Ideas - designed to be fast-fail - and longer-term research programmes of up to five years. MBIE said there was precedent to pause contestable funding rounds during a shake-up to reduce the burden on staff. It said the funding for 2026 would instead be directed to current research projects that would otherwise end. "We expect that a contestable round will be undertaken in 2027 subject to further work as part of the science reforms." Technology used to assess the characteristics of fruit. Photo: Gianina Schwanecke / Country Life Science Minister Shane Reti said the reallocated funding would ultimately benefit the system and create more opportunites for research and innovation. He said funding for science, innovation and technology was in line with Budget 2025's approach to economic and fiscal management. "The government has reprioritised funding for initiatives we need to unleash the potential of our science system in the long term - providing for a modern gene technology regime and fundamental changes to New Zealand's science, technology and innovation system, including new public research organisations and a forward-looking science council." Science, innovation and tech start-ups would also benefit, he said, from the government's $100m budget boost to Elevate NZ Venture Funding and an increase to the R&D tax incentive. "I see these as long-term investments that will over time create even more opportunities for world-leading research and innovation that leads to better outcomes for New Zealanders and our economy." Regarding the Endeavour Fund, he said it had not been suspended. "Any speculation about the future of the Endeavour Fund is just that - speculation. Changes to future funding rounds would likely be subject to Budget decisions." 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Business Wire
28-05-2025
- Business
- Business Wire
Greener Pastures Applauds Milestone as Active Investor Plus Program Surpasses 100 Applicants and $600 Million in Capital Commitments
AUCKLAND, New Zealand--(BUSINESS WIRE)-- Greener Pastures New Zealand, a premier investment and lifestyle advisory firm specializing in facilitating high-net-worth investor residency through New Zealand's Active Investor Plus (AIP) visa program, today celebrated a major milestone in the country's revamped Active Investor Plus (AIP) visa program. The program has now received over 100 formal applications, representing an estimated NZD $600 million in committed capital to be deployed across New Zealand's private sector. In a promising signal for New Zealand's innovation-driven economy, 80% of these applicants selected the growth investment category, which prioritizes direct investment into New Zealand-managed funds and operating businesses. 'As one of the pioneering firms supporting clients through the AIP process, we have witnessed this first hand with our various meetings with clients around the world,' said Dominic Jones, Managing Director of Greener Pastures New Zealand. 'It reflects not only strong international interest in New Zealand as a destination for strategic investment and lifestyle, but also the government's success in aligning immigration policy with long-term economic development.' Greener Pastures operates the Greener Pastures Diversified Fund, an approved investment vehicle under the AIP program. The firm provides end-to-end advisory for global investors pursuing residency in New Zealand, including investment management, relocation support, and strategic introductions across New Zealand's business and lifestyle ecosystems. The program's success to date is the result of coordinated efforts by Invest New Zealand, Immigration New Zealand, and private sector partners working across borders to attract high-quality investors and activate capital that will fuel job creation, innovation, and sustainable growth across the country. Invest New Zealand General Manager, Benny Goodman says the recent changes to the Active Investor Plus Visa have made it even easier to invest in New Zealand. 'New Zealand has a vibrant eco-system of investment opportunities – from growth companies through to more established entities, projects and funds. The Active Investor Plus Visa pathway makes it easy for investors to connect with these opportunities and gain permanent residence in New Zealand.' For more information on Greener Pastures New Zealand, please visit About Greener Pastures New Zealand Greener Pastures New Zealand is a premier investment and lifestyle advisory firm specializing in facilitating high-net-worth investor residency through New Zealand's Active Investor Plus (AIP) visa program. As a subsidiary of Origin Capital Partners, the firm provides tailored investment products and lifestyle transition support, ensuring a smooth relocation process for high-net-worth investors. Its government-approved Diversified Fund meets AIP visa criteria, while its tailored lifestyle services ensure a smooth transition, from real estate and education to local expertise. Led by Managing Director Dominic Jones and Board Chairman Simon Botherway, Greener Pastures helps global investors build secure, sustainable futures in one of the world's most desirable destinations. Learn more at
Yahoo
28-05-2025
- Business
- Yahoo
Greener Pastures Applauds Milestone as Active Investor Plus Program Surpasses 100 Applicants and $600 Million in Capital Commitments
80% of investors choose growth category, channeling capital into New Zealand's innovation economy AUCKLAND, New Zealand, May 28, 2025--(BUSINESS WIRE)--Greener Pastures New Zealand, a premier investment and lifestyle advisory firm specializing in facilitating high-net-worth investor residency through New Zealand's Active Investor Plus (AIP) visa program, today celebrated a major milestone in the country's revamped Active Investor Plus (AIP) visa program. The program has now received over 100 formal applications, representing an estimated NZD $600 million in committed capital to be deployed across New Zealand's private sector. In a promising signal for New Zealand's innovation-driven economy, 80% of these applicants selected the growth investment category, which prioritizes direct investment into New Zealand-managed funds and operating businesses. "As one of the pioneering firms supporting clients through the AIP process, we have witnessed this first hand with our various meetings with clients around the world," said Dominic Jones, Managing Director of Greener Pastures New Zealand. "It reflects not only strong international interest in New Zealand as a destination for strategic investment and lifestyle, but also the government's success in aligning immigration policy with long-term economic development." Greener Pastures operates the Greener Pastures Diversified Fund, an approved investment vehicle under the AIP program. The firm provides end-to-end advisory for global investors pursuing residency in New Zealand, including investment management, relocation support, and strategic introductions across New Zealand's business and lifestyle ecosystems. The program's success to date is the result of coordinated efforts by Invest New Zealand, Immigration New Zealand, and private sector partners working across borders to attract high-quality investors and activate capital that will fuel job creation, innovation, and sustainable growth across the country. Invest New Zealand General Manager, Benny Goodman says the recent changes to the Active Investor Plus Visa have made it even easier to invest in New Zealand. "New Zealand has a vibrant eco-system of investment opportunities – from growth companies through to more established entities, projects and funds. The Active Investor Plus Visa pathway makes it easy for investors to connect with these opportunities and gain permanent residence in New Zealand." For more information on Greener Pastures New Zealand, please visit About Greener Pastures New Zealand Greener Pastures New Zealand is a premier investment and lifestyle advisory firm specializing in facilitating high-net-worth investor residency through New Zealand's Active Investor Plus (AIP) visa program. As a subsidiary of Origin Capital Partners, the firm provides tailored investment products and lifestyle transition support, ensuring a smooth relocation process for high-net-worth investors. Its government-approved Diversified Fund meets AIP visa criteria, while its tailored lifestyle services ensure a smooth transition, from real estate and education to local expertise. Led by Managing Director Dominic Jones and Board Chairman Simon Botherway, Greener Pastures helps global investors build secure, sustainable futures in one of the world's most desirable destinations. Learn more at View source version on Contacts Stephen FrancyRubenstein PR212-805-3017sfrancy@ Sign in to access your portfolio
Newsroom
22-05-2025
- Business
- Newsroom
Gene tech the winner in new science budget
Half of the savings found by cancelling research funds and institutes will be spent setting up an office to attract foreign science and an office to oversee a deregulated gene tech space. In total, $212 million was cut from the science sector in Budget 2025, of which $107m was spent setting up the office of the Gene Technology Regulator and Invest New Zealand. With the Gene Technology Bill before select committee, there has been criticism about its ability to open up New Zealand as a proving ground for foreign gene-tech companies to test their products. The total budget line for business, science and innovation was $813m. But nearly three quarters of this, $576m, was a rebate for international moviemakers. This left $236 million for science and innovation. Some $212m of that was funded by cannibalising other areas of the science sector. The two main spends funded by cuts to research and innovation were the combination of an international investment agency alongside a gene technology regulator tasked with obeying 'general policy directions' of a given government. These were Invest New Zealand and the Gene Technology Regulator. Invest New Zealand had 84.6m earmarked over four years. The new agency was tasked with attracting foreign capital to New Zealand, with an emphasis on scientific ventures. Meanwhile, $22.8m was dedicated over the same four years to the Gene Technology Regulator. The regulator was tasked with overseeing the country's new GMO regime, defined by the Gene Technology Bill, which is due to pass into law by the end of the year. This funding also supported compliance and monitoring of the new regime. The gene tech bill will deregulate many gene technologies, opening the door for innovation. Support has come largely from the agriculture sector. Scion's Alec Foster told Newsroom last week that research into conifers alone could unlock billions in the New Zealand economy, and he believed the industry was capable and best-suited to regulate the technology's use. Select committee hearings are underway for the bill, but criticisms of the new regime have focused on the degree of deregulation proposed and the relative lack of independence wielded by the new regulator. As Newsroom has previously reported, Fonterra warned in its submission that pitfalls could 'cede control' to foreign nations via legislative design. The regulator is tied to the directives of the government of the day, unlike Australia's regime on which the bill was based. Other specifics in the bill directly cite Australian legislation, which raised the concern of officials in their regulatory impact statement. Others have warned about foreign gene-tech companies coming to New Zealand, attracted by lax restrictions, to set up testing facilities for experimental crops. If those crops were to fall within certain thresholds, they may escape a degree of the regulator's scrutiny, which will already be bound to the 'growth-first' directive of the coalition Government. This regulator will sit within the Environmental Protection Authority, which has also been tasked with managing fast-track applications. In his announcement, Minister for Science, Innovation and Technology Shane Reti said: 'We must have an eye on emerging opportunities to make sure we keep growing the role of science and innovation – we must always be asking, what's next?' The answer wasn't research funding. The majority of new science spends – outside of the film rebate – were funded by the cancellation of funds, grants and centres, but no new ones were created. The sector as a whole saw very little new funding, which contradicted advice given by Sir Peter Gluckman in the Science System Advisory Group report published in 2024. Gluckman wrote: 'We have an underfunded system by any international comparison.' This made for competitive inter-agency relationships, which was 'known to inhibit the most intellectually innovative ideas coming forward, and of course it is these that can drive a productive innovation economy'. Despite new dedicated funds, elsewhere in the Budget a $398m spend on tertiary education boosts looked to emphasise Stem courses. Some $213m of that fund – from the tertiary education budget line, not science and innovation – would go to 'many' subject areas across the tertiary sector, for a 3 percent increase across whatever that range may be. Stem subjects in particular were earmarked for a further 1.7 percent increase of $64m. But this was the only extra money given to early-career researchers. $35.5 million from other funds for this type of work – the Marsden, Health Research, Partnered Research, and Strategic Science Investment funds – was reprioritised. The Innovation Trailblazer and the New to R&D grants were axed, as well as Callaghan Innovation. The disestablishment of Callaghan Innovation itself was set to cost $38m over four years. An earlier version of this story said the Marsden Fund and others had been disestablished. The story has been updated to clarify the funds had been partially reprioritised.
Scoop
22-05-2025
- Business
- Scoop
Invest New Zealand: Backing Growth Through Global Investment
Minister for Trade and Investment Budget 2025 establishes Invest New Zealand, a new dedicated agency to attract global capital, businesses, and talent into New Zealand's high-value industries and help drive long-term economic growth. 'This is about creating a smarter, more targeted approach to international investment—streamlining the process and ensuring New Zealand competes for the best people, ideas, and capital,' Trade and Investment Minister Todd McClay says. 'Today we have announced $85 million over four years to set up Invest New Zealand as an autonomous Crown entity, with a clear mandate to deliver on the Government's economic priorities. Legislation to legally establish Invest New Zealand will be passed over Budget week and the agency will formally commence activity from 1 July 2025. 'Invest New Zealand will partner with multinational corporations and foreign investors, with a particular focus on backing sectors that create high-value jobs and help lift productivity.' The agency will provide expert support to investors and help connect them with opportunities across New Zealand's economy. Its work will include: Promoting investment in advanced sectors with strong growth potential. Attracting new capital to innovative New Zealand businesses and research institutions. Encouraging global companies to expand their R&D footprint here. Helping to build the skilled workforce needed to support an innovation-led economy. 'An experienced advisory group, chaired by Rob Morrison, has been appointed to support the establishment of Invest New Zealand. The group brings deep expertise in global capital markets and will help shape the agency's structure and legislative framework. 'Having the input of leading private sector experts has been invaluable to ensure Invest New Zealand operates with the agility and commercial focus needed for success. 'We are focused on making it easier to do business in New Zealand and more attractive to invest here. If it is good for New Zealand and good for New Zealanders, we will be saying yes to investment,' Mr McClay says.
