Funding round
In 2006/07 an additional $10 million was added to the Centres of Research Excellence (CoRE) fund, bringing the total operating funds available per year to $34.6 million. $20 million for CoRe capital purchases was also allocated.
The existing Centres were able to apply for refunding for a further six years and applications were also accepted to establish new CoREs.
In 2007 the government announced the selection of seven CoREs. Six of these were existing CoREs (established in 2002/03) and one was a new CoRE. The New Zealand Institute for Mathematics and its Applications CoRE (NZIMA), which was established in 2002, was not re-selected for funding in the 2006/2007 round. The NZIMA will receive transitional funding until 2011.
The Royal Society of New Zealand assisted with the selection of the CoREs from the 2006/07 funding round, by running the assessment process for the new funding round and making preliminary recommendations for selection to us.
CoREs funding is subject to a mid-term review of individual CoREs by the end of 2010/11. This will also provide the opportunity to consider the future of the CoRE fund from a strategic policy perspective.