More than $400 million from the Covid-19 fund and Budget 2020 is going to research and development "to help deliver jobs and a stronger economy in a post-Covid world".
Science and Innovation Minister Megan Woods made the announcement today.
Of the funding, $196 million will go to Crown Research Institutions, $150 million to a loan scheme for businesses to invest in research and development and $33 million for Māori research and development opportunities.
There was also $12 million to go to the Nationally Significant Collections and Databases and $10 million for helping research and development companies disproportionately impacted by Covid-19.
"Without new ideas and innovation we risk missing out to the rest of the world as we all look at how to rebuild our economies," Ms Woods said.
"Our research, science and innovation system supports New Zealand by providing well paid and secure jobs, high value products and helping productivity growth - all of which will be vital as we look toward economic recovery in the aftermath of Covid."
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