New Zealand commits $71 million to a high-tech research platform led by Robinson Research Institute, aiming to drive innovation, grow exports, and create high-value jobs.

Dr. Shane Reti, Minister of Science, Innovation, and Technology, claims that increased funding for cutting-edge technology research will increase high-tech exports, improve ties between academia and business, and create high-value jobs.

The government will invest $71 million over seven years in a new advanced technology scientific platform run by the Robinson Research Institute, which is situated at Victoria University of Wellington, Minister Reti announced today.

According to Dr. Reti, cutting-edge technology research produces innovations that can change people's lives. The potential for advancements in fields like cryogenics and quantum physics is enormous. This investment will support economic growth in industries like health, transportation, energy, and their space industry while enabling innovation that could benefit our daily lives, from creating portable MRI devices to creating smaller and quicker engines.

According to Dr. Reti, the money will not only sustain vital personnel and cultivate young scientists into world-class innovators, but it will also encourage invention that may be translated into financial rewards. The Government is investing in the materials and engineering know-how required to produce technological breakthroughs and transform creative concepts into practical goods and services right here in New Zealand through this new science platform, he said.

This expenditure is a component of the government's efforts to refocus and modernize New Zealand's research, innovation, and technology sector for the future in order to spur economic growth. Establishing the new Advanced Technology Public Research Organization is the initial stage in this process.