New Zealand government has announced a major economic initiative committing over $42 million across seven years to establish a Biodiscovery Platform. The platform is designed to convert the nation unique natural biodiversity into high-value export products, including natural pharmaceuticals cosmetics, functional foods, and advanced bio-based materials.
Science, Innovation and Technology Minister Dr. Shane Reti announced the investment, emphasizing that the initiative is an “economic growth initiative” aimed at increasing New Zealand’s global market share in a rapidly expanding sector. The global bio-based products market is forecast to exceed $300 billion by 2027, with natural pharmaceuticals identified as one of the fastest-growing segments.
The effort will be led by the newly formed Bioeconomy Science Institute, which will unite researchers, Māori enterprises, and industry players to accelerate the commercialization of New Zealand’s natural flora and fauna. The Institute’s mandate includes supporting targeted Research & Development (R&D), de-risking private sector investment, and accelerating product development pipelines.
Dr. Reti pointed to the mānuka honey industry as a blueprint for success, noting that its exports have more than doubled from $187 million in 2014 to $420 million by June 2025, largely due to focused innovation.
This Biodiscovery Platform complements several other major government investments aimed at strengthening the science and innovation ecosystem, including:
- Up to $70 million for artificial intelligence technologies.
- $71 million for next-generation materials and magnet technologies.
- $46 million for Endeavour Smart Ideas grants.
- $183 million for Endeavour Research Programmes.
“Science, innovation and technology are one of the five pillars of our Going for Growth economic strategy,” Dr. Reti said, affirming that the investment ensures New Zealand natural advantages are translated into long-term economic gains.