Building a productive nation
The nature of work is changing, and this Government wants to ensure that New Zealanders thrive in the rapidly moving digital age. This requires us to use data, technologies and skills to become a responsive and efficient economy and society.
|$240m new capital
$60m existing capital
Bridging the Venture Capital Gap
Establishing a new $300 million fund for investing in our venture capital markets through the New Zealand Venture Investment Fund (NZVIF) to provide businesses with a sustainable path to grow and develop.
Funding for Research and Innovation
Funding has been allocated to support innovative businesses to develop and commercialise products and adopt cutting-edge new technologies. It lifts government funding for high-performing business research and development (R&D), and programmes to support, incubate, and grow innovative start-ups.
Reform of Vocational Education
We have set aside funding to support the transition to a thriving vocational education system that better responds to learners’, employers’, and regions’ needs. The funding will enable changes to institutional forms and systems that are necessary to support the ongoing sustainability of a broad range of delivery across New Zealand.
The initiatives in this priority complement the significant changes already underway including R&D tax credits that were announced in Budget 2018 and the investment in the Transforming the Economy priority to develop new energy technologies and industries. In addition, this priority includes support for the Government’s data, digital and cyber security work.