Science and Innovation Minister Paul Goldsmith has released a report which details a number of measures to ensure the Marsden Fund, the Government’s premier fund for excellent investigator-led research, continues to be effective and fit-for-purpose.
The report found the Marsden Fund is highly-regarded, well-run and effective at selecting high-quality research within its current settings, but a number of improvements are needed to ensure it continues to deliver benefits in the future.
The Marsden Fund Council, which oversees the Fund’s operation, has been asked to develop a strategic direction which shows how the Fund will be managed to achieve its objectives and contribute to the National Statement of Science Investment vision and Goals.
The strategic direction will require the Marsden Council to:
- Develop an Investment Plan that sets out the strategic direction of the Fund, addresses the issues identified in the assessment, and shows how the Fund will be managed to achieve its objectives; and
- Develop a Performance Framework that will include periodic review by international experts to provide assurance of the value of the Government’s investment.
The implementation of any changes to the operation of the Fund will be clearly signalled through the Investment Plan. To assist the Council in its expanded role and to provide a strong, independent voice, the Minister of Science and Innovation will also be including more international Councillors on the Council through future appointment rounds.
“For the last 23 years the Marsden Fund has been undertaking high-quality scientific research and with these changes the Fund can plan for the next 23,” says Mr Goldsmith.
The Marsden Fund Assessment of Strategy and Management Report can be found on the MBIE website, HERE.