"[4] The first Marsden Fund grants were awarded in 1995, when NZ$10.2 million (excluding GST) was shared between 51 successful projects.
In 2001, the Fast Start category was introduced specifically for Early Career Researchers (within 7 years of completing their PhD).
[8] The Marsden Fund granting process is highly competitive, with over 1,000 applications per year and success rates that often hover around 10%.
Proposals are assessed primarily on the potential of the research to contribute to the advancement of knowledge, with long-term benefits to New Zealand.
[5] Because of this intense competition, winning a Marsden Fund grant is regarded as a hallmark of research excellence in New Zealand.