PODCAST: Business R&D focus in Budget ’10

The Prime Minister this morning pre-announced the science and innovation funding commitments that will be included in the Budget on May 20.

govt scienceThe Government also released its strategy on science and innovation.

The allocations totaling $321 million for new initiatives and including $96m of reprioritised money over four years are as follow:

* $189.5m for technology development grants to support R&D in businesses that already do significant amounts of R&D.

* $20m to trial technology transfer vouchers, which will encourage links between companies and publicly-funded research organisations.

* $11m to support technology transfer from research organisations to businesses and commercialisation of new products and processes.

* $13.7m in contingency funding for initiatives to improve the transfer of technology from research organisations to the private sector.

* $25m over four years for the Rutherford Discovery Fellowships which will support early to mid-career researchers.

* $9m over three years, starting in 2011/12 to attract top science entrepreneurial talent to New Zealand.

* $44.3m over four years in contingency funding for proposed large-scale science infrastructure, subject to Cabinet approval.

The Prime Minister revealed the funding allocations in a speech at the Wellington Chamber of Commerce at Te Papa Museum this morning.

Click below to play a recording of his speech: