2 SEPTEMBER 2004 NEW ZEALAND GAZETTE, No. 111

section 8A of the Foundation for Research, Science, and
Technology Act 1990.

Period of Operation
The scheme will commence operation on 1 August 2004
and is estimated to continue for a period of five years from
1 August 2004.

Monitoring Agency
Monitoring of the scheme, including implementation of this
notice by the Foundation for Research, Science and
Technology and the extent to which the scheme achieves its
stated objectives, will be carried out by the Ministry of
Research, Science and Technology.

Dated at Wellington this 23rd of August 2004.

PETE HODGSON, Minister of Research, Science and
Technology.

Notes

1 A firm is defined as a body corporate or other entity that has a legal
personality or existence distinct from those of its members (including sole
traders) and is resident in New Zealand. For the purposes of this scheme, a
firm excludes any Crown owned body corporate or other entity (including
but not limited to those that are governed by the Education Act 1989, or the
Local Government Act 1974 or the Crown Research Institutes Act 1992).

2 A small and medium sized firm is defined as a firm that has annual
turnover of up to and including $50 million.

3 A collectives entity is any legal entity that has a legal personality or
existence distinct from those of its members, is resident in New Zealand,
and the primary function of which is to use land or related assets whose
ownership structure is such that they cannot be used as collateral for bank
loans.

go5826

Notice of Introduction of a Ministerial Scheme
Under Section 8A of the Foundation for Research,
Science, and Technology Act 1990—the
International Investment Opportunities Fund

Direction to: The Foundation for Research, Science and
Technology (“the foundation”).

Under section 8A of the Foundation for Research, Science,
and Technology Act 1990, I direct the foundation to allocate
funds in accordance with the International Investment
Opportunities Fund (“the scheme”) specified in this notice.

Nature of the Scheme
The intended outcome of this scheme is to increase the
ability of New Zealand researchers to participate in research
collaborations that attract international co-funding, to recruit
highly experienced researchers from overseas and to support
participation in international research programmes with a
high relevance to New Zealand’s economic, social and/or
environmental development.

The scheme will be used to secure benefits for New Zealand
in terms of research funding, access to equipment or
technologies not available in New Zealand and ensuring
advanced skills are matched to areas of strong growth.

The foundation will work with the Health Research Council
of New Zealand (HRC) and the Ministry of Research,
Science and Technology to develop and implement priorities,
and work with the HRC to invest the fund each year. The
scheme will give priority to opportunities involving bilateral
partners identified in the Government’s Research, Science
& Technology International Linkages Strategy.

Scheme Objectives
Projects that meet the scheme’s objectives are eligible to
receive funds from the foundation.

The scheme’s objectives are:

● Objective One: To provide funding to enable
New Zealand researchers to respond to out-of-cycle

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opportunities to gain access to international research
programmes and associated funding streams;

● Objective Two: To establish joint funding pools with
other countries to facilitate research programmes of joint
interest; and

● Objective Three: To assist world-leading researchers,
working in key areas of strategic interest to New Zealand,
to relocate to New Zealand and establish a research
team.

In making funding decisions, the foundation will fund those
programmes that, in its view, best meet the following
criteria:

● Scientific and technological quality; and
● potential benefit to New Zealand; including the ability
to utilise overseas expertise and advances in science
and technology, and the contribution to New Zealand’s
research, science and technology goals.

Operating Principles
In running the fund, the foundation will:

● seek commitment from the research institutions
submitting proposals to provide infrastructural support
and organisational co-funding for successful projects;

● seek to leverage New Zealand funding to ensure the best
outcomes for New Zealand research and researchers;

● seek to ensure benefit to New Zealand is captured for the
wealth and wellbeing of New Zealanders; and

● ensure the process is flexible and responsive to
opportunity.

The Mechanism
The scheme has three separate but interlinked objectives—

Objective One of the scheme is intended to provide a
mechanism for New Zealand researchers to gain entry into
overseas research programmes and funds that, due to timing,
would not otherwise occur as part of the standard investment
cycle. The funds under this objective should be invested
contestably and sufficiently frequently to meet out-of cycle
opportunities.

Funds will be provided by the international investment
opportunities fund to meet the following needs:

● Providing seeding or bridging funding to underwrite the
New Zealand share of the costs of a joint research
proposal with international partners, until these can be
accommodated within normal funding cycles.

Under Objective Two, funds will be provided for
New Zealand research purchase agencies to establish a
diversity of joint funding pools with overseas funders,
including:

● developing research opportunities for New Zealand in
strategic partnership with overseas funding agencies; and

● investing in targeted research capacity development
initiatives in partnership with overseas funding agencies.

Objective Two will be administered on a contestable basis
and aim to encourage a range of partnerships.

Under Objective Three, funds may be provided to assist
world-leading researchers, working in areas of strategic
interest to New Zealand, to relocate to New Zealand.
Costs covered by this objective may include:

● relocation costs;
● research funding until a researcher can be
accommodated within normal funding cycles; and
● salary costs.

Objective Three requires co-funding and support from a host
institution.