New Tertiary Research Excellence Fund Boosts Innovation and Cuts Red Tape

The new Tertiary Research Excellence Fund (TREF) will replace the Performance-Based Research Fund, investing $315 million annually to enhance research capability in New Zealand's tertiary education system with a focus on economic growth and reduced compliance costs. TREF emphasizes impact through metrics like external research income, citations, commercialisation, and policy outcomes, aiming to reward research excellence in a more efficient and responsive manner. Developed with expert advice and sector engagement, the fund’s operational design begins immediately, with phased implementation from 2027 and full alignment by 2029.