21 AUGUST 2008 NEW ZEALAND GAZETTE, No. 131

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 (IIOF or "the scheme") specified in this notice.

This notice revokes and replaces the notice (go5827) published in the New Zealand Gazette, 2 September 2004, No. 111, page 2707, which established the scheme.

Nature of the Scheme

The intended outcome of this scheme is to facilitate research through increasing the ability of New Zealand researchers to participate in research collaborations that attract international co-funding 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), the Royal Society of New Zealand (RSNZ), and the Ministry of Research, Science and Technology (MoRST) to develop and implement the priorities of IIOF.

The scheme will give priority to opportunities involving bilateral partners identified in the Government’s Research, Science and Technology International Linkages Strategy.

Scheme Objectives

The scheme’s objectives are:

• Objective One: To provide funding to enable New Zealand researchers to respond to out-of-cycle opportunities to gain access to international research programmes and associated funding streams; and

• Objective Two: To establish joint funding pools with other countries to facilitate research programmes of joint interest.

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

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

• Scientific and technological quality;
• 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; and
• Consistency with the Government’s Research, Science and Technology International Linkages Strategy, or other priority relationships published by MoRST.

Operating Principles

In administering the fund, the foundation will:

• Seek support from the research institutions submitting proposals;
• 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;
• Ensure the process is flexible and responsive to opportunity; and
• Work with other funding and investment agents receiving IIOF funds to ensure that the research community understands any differences to processes, including eligibility and criteria.

The Mechanism

The scheme has two 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 IIOF to meet the following need:

• 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.

The foundation will identify a funding path into normal funding cycles for all proposals.

The foundation shall include, in its Statement of Intent each year, a rolling Schedule of priority countries for future years, consistent with Government’s Research, Science and Technology International Linkages Strategy or other priority relationships published by MoRST.

Under Objective Two, funds will be provided for New Zealand research funding and investment agents 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 run in two phases:

• Phase One is the selection of the funding and investment agent(s) proposal(s) by MoRST for Objective Two collaboration. The foundation can submit its joint funding pool concepts for Objective Two in an annual case for funds, or similar document. MoRST will request full proposals for partnerships it considers as priorities for collaboration. MoRST is not bound to request or accept proposals.

• Phase Two is the establishment and administration by the successful funding and investment agent(s) of joint funding pools with funding organisations in other countries.

Phase One will be administered by MoRST and is open to the foundation, the HRC and the RSNZ.

The successful funding and investment agent(s) will administer funds for Phase Two on a contestable basis and aim to encourage a range of partnerships.

Allocation of Funding

Funds available to the scheme will be published each year in the Estimates of Appropriations. MoRST will advise the foundation each year in its output agreement of the funds available to it for each objective.

Period of Operation

The scheme commenced operation on 1 September 2004. Its continuation and mode of operation will be reviewed after five years from that date.

Monitoring Agency

Monitoring and review of the scheme, including the implementation of this Ministerial direction by the foundation 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 day of July 2008.

HON PETE HODGSON, Minister of Research, Science and Technology.