WELLINGTON, Sept. 17 (Xinhua) -- New Zealand Research, Science and Innovation Minister Megan Woods said Tuesday that the government is investing 241 million New Zealand dollars in leading research projects to tackle New Zealand's social issues.
The project will help find new ways to address long-term issues like increasing sources of renewable energy and growing knowledge-intensive industries.
The Endeavour Fund selects excellent research proposals openly, which will provide the highest potential impacts across a range of economic, environmental and societal objectives. As New Zealand's largest contestable research fund, it has awarded 71 projects in 2019.
Woods stressed that the government is funding important research to tackle the big issues, and improve living standards and wellbeing through productive, inclusive and sustainable economic development.
The fund backs research aimed at growing R&D intensive industries, low emissions economy transition and people's well-being.
"This year we will see 37 million New Zealand dollars will go to projects to help our transition to a low emissions and climate resilient economy, through the development of new energy opportunities and new materials. Projects like the GNS Science led 'Geothermal: The next generation' will look for new ways to extract geothermal energy at greater depths."
Woods said they have invested 91 million New Zealand dollars in projects that help to create and grow knowledge-intensive industries, including the Plant & Food Research-led "Re-imagining aquaculture", which will develop low-impact offshore technologies to transform the finfish production in New Zealand.
The Endeavour Fund provides up to 58 million New Zealand dollars per year of new investment to fund projects that have a high potential to transform New Zealand's future in areas of future value, growth or critical need. (1 New Zealand dollar equals 0.64 U.S. dollar)
