Announcement of the new $700 million funding boost for research, development and innovation projects has been welcomed by University management and academics.
Acting Vice-Chancellor Professor Ian Warrington says the funding, unveiled by Prime Minister Helen Clark earlier today, is welcome recognition of the huge importance of agriculture and food industries to New Zealand economy.
"The University is well-positioned with existing academic and research programmes to support these industries. We have been very conscious for some time of the need for high value pastoral and food industries, and have already targeted these areas both through strategic partnerships with industry and university-led research.
"We have been aware that many of those who lead the professional aspects of agriculture in New Zealand are getting close to retirement and our growth in postgraduate numbers demonstrates our commitment to producing the next generation of professionals that will steer the New Zealand economy through the agriculture and food industries. We look forward to working with the Government to use some of this funding to ensure that such training opportunities are enhanced."
The funding has been named NZ Fast Forward, and is part of a move to shift New Zealand's exports from raw products to added value goods. It is expected industry will match the Government's funding, and that the fund may grow to around $2 billion over the next decade or so.