The biotechnology sector is getting $15 million funding to help it raise capital, the Government said today.
Research, Science and Technology Minister Pete Hodgson said the money would come from the Venture Investment Fund, which has $100 million to put into new developments.
"Through engaging with the venture capital industry and peopleinvolved in biotechnology, the fund has seen an opportunity to help address the sector's unique challenge in raising capital," he said.
"The new seed fund will help grow more New Zealand businesses based on our world-class biotechnology research."
