18 NOVEMBER

NEW ZEALAND GAZETTE

4103

The objectives of the Scheme

The objectives of the Scheme are to:

• Assist New Zealand graduates to further develop and enhance their skills and knowledge in science, technology and engineering, and where appropriate to focus some of this development and enhancement for the benefit of New Zealand;
• Assist New Zealand post-doctoral researchers to obtain exposure to international developments in science, technology and engineering of potential interest to New Zealand;
• Assist New Zealanders who have completed doctoral degrees overseas to undertake post-doctoral research in New Zealand;
• Assist New Zealanders who have completed a period of up to 5 years of research overseas following completion of their doctoral degree to return to employment in the New Zealand science, technology and engineering sector; and
• Bridge the potential gap between attainment of a doctoral degree and employment in the New Zealand science, technology and engineering sector.

Mechanisms of the Scheme

The objectives of the Scheme will be achieved by providing support, in the form of fellowships, for talented New Zealand post-doctoral students undertaking research in approved research institutes or business enterprises in New Zealand or overseas. It is anticipated that recipients of the Fellowship undertaking their research overseas, will upon the completion of their Fellowship, return to New Zealand for employment in the science, technology and engineering sector.

Targeting of Support

The Scheme will be targeted at New Zealand doctoral graduates who have recently had their degrees confirmed. It is expected that each individual Fellowship will have a duration of at least 3 years.

Administration and Selection

The Scheme will be administered by the Foundation for Research, Science and Technology.

A standard set of robust criteria will be used to select the applicants to be awarded Fellowships.

Where appropriate, the Foundation may depute a potential host organisation the ability to select Fellows against the standard set of criteria for the Scheme.

Estimated funding

The amount of funds available for the Scheme will be published in the annual Estimates of Appropriation.

The estimated funding for the Scheme is a maximum of $2.535 million in 1999/2000 financial year.

Estimated duration

The Scheme will operate for a minimum of 5 years from the date of this notice.

Monitoring

The Ministry of Research, Science and Technology will monitor the Scheme and the Foundation’s management of the Scheme.

2. Ministerial Direction to the Foundation for Research, Science and Technology (New Economy Research Fund Scheme) Notice 1999

To the Foundation for Research, Science and Technology (‘‘the Foundation’’).

Under section 8A of the Foundation for Research, Science and Technology Act 1990, the Foundation is directed to allocate funds in accordance with the New Economy Research Fund Scheme (‘‘the Scheme’’) specified in this notice.

This notice establishes the New Economy Research Fund Scheme. The Notice was issued to the Foundation for Research, Science and Technology by the Minister of Research, Science and Technology on 1 November 1999.

New Economy Research Fund Scheme—

The Nature of the Scheme

The New Economy Research Fund will support researcher-led innovation aimed at developing capability and knowledge in new areas or applications where industries are emerging or yet to emerge, in order to underpin new high-technology business opportunities. The focus of the research should be on targeted basic research and human capital that will underpin new enterprises and new sectors.

The Objectives of the Scheme

The primary objective of the Scheme is to underpin new or emerging knowledge-based enterprises in New Zealand through:

• Supporting investigator-initiated basic research that has the potential to create the advanced technological platforms that will underpin new and emerging industries;
• Building a critical mass of research capability and new knowledge in emerging science and technology areas;
• Developing advanced human capital and skills that draw from rapidly advancing international science and technology; and
• Developing new areas of knowledge to a point where they may be further developed, sustained and/or exploited through other public or private investments.

Principles for Determining Research Support

The Scheme will support research proposals that:

• Meet international standards of excellence;
• Seek to build new areas of knowledge and research groupings in areas extending beyond existing industry boundaries;
• Build human capital in advanced science and technology that may underpin the emergence of new industries;
• Are initiated as a basic research concept or idea, and develop towards a research-led commercial opportunity; and
• Involve research based in New Zealand, but which may include appropriate international collaboration to maximise the benefit to New Zealand.

It is recognised and accepted that the research supported by the Scheme may generate uncertain or unpredictable results.

Selection of Research and Administration of the Scheme

The Foundation is to focus on investing in skills and basic knowledge that may be applied to support new sectors, rather than simply allocating all available funds. In selecting proposals for funding, the Foundation should apply the following criteria:

• Contestability—Any individual, public or private enterprise or organisation may submit proposals for funding. Applicants must be able to demonstrate the