ANDREW TURNBULL on commercialising innovation

Andrew Turnbull, the Investment Committee Chair for the Kiwi Innovation Network

 Andrew Turnbull on how KiwiNet is helping to transform scientific discoveries into marketable products and services.

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NBR Radio has teamed up with Spotify to bring Sunday Business to its podcast platform. You can also listen to the full episode free on SoundCloud here.

This week's featured guest on NBR Sunday Business with Andrew Patterson is Andrew Turnbull, the investment committee chairman for the Kiwi Innovation Network.

A network of public research organisations working together to transform scientific discoveries into marketable products and services. 

He discusses a new programme designed to encourage individual researchers within public research institutions into creating start-ups of their own.

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What has Kiwinet actually delivered? Lots of nice talk about ecosystem etc. But $1.6 billion in R&D pa and maybe a handful or less of really meaningful outcomes.

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Lookie here Anon, How many times do I have to tell thee?
This is all about supplying jobs for Uni. grads that the private sector have rejected.
That is the "innovation" and it works.
What would you have them do Anon? Menial tasks like milking cows? picking up wheelie bins? driving a courier van?
Now for goodness sake belt up, put your back into, and pay your taxes. That's what you and I have always had to do.
I do not want to tell you again. But I will:)

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Funding individual researchers is nice, I think they might like to consider funding individual thinkers, not that there are likely to be many in this public money ecosystem.

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My god, would someone like Mr. Turnbull be a blessing for companies like Martin Aircraft. 37 years of backyard tinkering, burning through more than NZ$70m. Still nothing to sell, other than logo printed accessories (e.g. T-shirts, luggage tags & thermal mugs), 3 experimental, commercially incompatible jetpacks & a simulator to one of their own subsidiaries and at a huge loss. ROTRON RT1200 jetpack engine needs to be rebuilt every 10 hours and completely scrapped after 30 hours. 10 directors at one stage and in excess of 100 employees. Travelled the world to places like Monaco and Paris with nothing more than a static display & an arcade game like simulator and now relying on hand-outs from their largest Bermudas incorporated shareholder in form of a NZ$10m loan, to be repaid in September of 2018. Good luck!

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