Membership of two new independent boards responsible for funding for science and innovation have been announced.
Renowned scientists, business people and innovation experts have been appointed to the Science and Innovation panels.
They include Dr William Rolleston as the Innovation Board chair and Professor Sir David Skegg as the chair of the Science Board.
Research, Science & Technology Minister Wayne Mapp says the boards will be key players in the reforms aimed at improving the science and innovation sector.
Dr Mapp says the Science Board will, within four years, allocate $500 million per year to research organisations, while the Innovation Board will have $150 million annually to give to businesses to develop good ideas.