One of the Government's flagship research and development policies promoted in last week's Budget will fail to deliver results, says the chairman of a Christchurch nanotechnology firm.
The Government said last week it would dedicate $90 million of operating funding and $76.1 million of capital funding over the next four years to create the Advanced Technology Institute (ATI).
Of this $166.1 million, $11.9 million is earmarked for the ATI in the 2012-13 budget.
This initiative was announced before the last election and will increase the size and reach of an existing Crown research institute, Industrial Research Ltd, to build up the sector and create new opportunities for high-value manufacturers.
A number of scientists welcomed news of the funding and New Zealand Association of Scientists' president Shaun Hendy said it would build stronger links between science and industry.