A serious authorities funding in cutting-edge science will unlock new financial alternatives by reworking New Zealand’s distinctive pure sources into high-value pharmaceutical and bio-based exports, Science, Innovation and Technology Minister Dr Shane Reti introduced at this time.
The Government is investing over $42 million throughout seven years to ascertain a Biodiscovery Platform, designed to speed up the event of high-growth industries producing pure prescription drugs and different bio-based merchandise. The platform shall be led by the newly fashioned Bioeconomy Science Institute.
“This is an economic growth initiative,” Dr Reti says.
“By harnessing New Zealand’s rich biodiversity, we can develop world-class, export-ready products in pharmaceuticals, cosmetics, functional foods, and advanced materials, creating jobs, growing businesses, and increasing our global market share.”
The international marketplace for bio-based merchandise is anticipated to exceed USD $300 billion by 2027, with pure prescription drugs among the many fastest-growing segments. This initiative allows New Zealand to seize a share of that development by commercialising merchandise rooted in our distinctive natural world.
“This platform will open up significant export opportunities for New Zealand businesses. With targeted R&D, we’ll help companies bring new, science-backed products to international markets, supporting regional development and building a stronger, innovation-led economy.”
The Bioeconomy Science Institute will unite researchers, Māori enterprises and business to drive commercially targeted innovation. It can even help market evaluation, de-risk non-public sector funding, and assist fast-track new product pipelines.
Dr Reti pointed to the success of New Zealand’s honey sector as a mannequin.
“In 2014, honey exports earned $187 million. By June 2025, that number had more than doubled to $420 million – thanks largely to innovation in mānuka honey. That’s the kind of economic uplift we want to replicate across multiple natural product sectors.”
The Biodiscovery Platform is a part of a broader strategic push to develop New Zealand’s science and tech financial system. Over the previous six months, the Government has dedicated:
- Up to $70 million for AI know-how
- $71 million for future supplies and magnet applied sciences
- $46 million by way of Endeavour Smart Ideas grants
- $183 million for Endeavour Research Programmes, and
- More than doubling funding within the fast-growing gaming sector.
“Science, innovation, and technology is one of the five pillars of our Going for Growth economic strategy. This investment ensures that New Zealand remains competitive in future-focused global industries – and that our natural advantages are turned into long-term economic gains,” Dr Reti says.