Waikato University welcomes science funding boost

Waikato University has congratulated Prime Minister John Key on his commitment to new science funding.

The university’s Vice-Chancellor, Professor Roy Crawford, says the organisation welcomes Mr Key’s announcement of an extra $321 million for research, science and technology initiatives. At the heart of the funding, to be announced during next week’s Budget, is a $234 million boost to support business research and development over four years. About $90 million has been reprioritised from existing areas.

Professor Crawford says the government’s emphasis on science and innovation-led economic growth mirrors the efforts already made by the University of Waikato, particularly in the Waikato and Bay of Plenty regions. “This government is talking about creating a better future for business, scientists and the country as a whole, and that’s something this university thrives on.”

He says the University of Waikato is at the centre of a network of research institutions and industry in the Waikato that is responsible for a significant proportion of New Zealand’s research, and the university welcomes the chance to work even more closely with other organisations and government agencies in the pursuit of excellence.

Part of the boost for science funding is aimed at commercialisation of research work. Professor Crawford says the University of Waikato already has a strong track record in the ability to transfer research into commercial propositions.

Waikato University’s commercialisation arm last year helped initiate the formation of AngelLink, a national investment network to support New Zealand high growth technology ventures, with an emphasis on life sciences, engineering and ICT.

The University of Waikato brought in $38.3 million of research funding in 2009 from 96 organisations to the university. “Much of our research funding comes from leading edge organisations in the private sector and governmental funding initiatives. We are pleased the public is seeing these projects which are ultimately creating better lives for New Zealanders.”

Like the government, the University of Waikato also sees the new science funding as a pathway to faster and sustainable economic growth. “We’re hoping that the government will be able to support more excellent work in the future,” Professor Crawford says.