Business NZ is encouraging business, government and research institutes to discuss the role of capital in promoting innovation in New Zealand.Speaking at the High Tech Innovations event at Te Papa last week, Business NZ chief executive Phil O'Reilly said
Business NZ is encouraging business, government and research institutes to discuss the role of capital in promoting innovation in New Zealand.
Speaking at the High Tech Innovations event at Te Papa last week, Business NZ chief executive Phil O’Reilly said that the government had done a good job of promoting “front end” innovation and research.
Now, he said, the public and private sectors need to turn their minds to how best to get that innovation to market – with the role of capital as the next big debate.
Business NZ supported last week’s announcement that the government will underwrite an additional $40m expansion of the NZ Venture Investment Fund (NZVIF).
The High Tech networking event, co-sponsored by Business NZ and the Tertiary Education Commission, is another step in the right direction, Mr O’Reilly said.
The event offered universities the chance to showcase their research to the business community.
Business NZ has also joined with the Foundation of Science, Technology and Research for a recent workshop series talking to businesses about budget changes, including the new, simplified Ministry of Science and Innovation.
“We’re pretty positive about what’s going on,” Mr O’Reilly said, “but more needs to be done.”
“The government doesn’t necessarily have to spend more money... but we need to have a better conversation with government about what government and business can be doing together to release capital into these kinds of ventures.”
“That’s a complex conversation that we’ve really only just started.”
Business NZ is welcoming suggestions in this area from the business community.
