Positive reaction to latest govt high-tech R&D funding

The government has announced almost $100 million of investment today for New Zealand’s high-tech manufacturing sector.

Thirty-one projects at universities, crown research institutes and other research organisations will receive the $92 million of funding over the next six years.

Science and innovation minister Steven Joyce says the projects have the potential to earn top export dollars, following on from the $4 billion of product which is exported annually by the country’s top 10 high tech companies.

Mr Joyce says growing innovation is essential to creating a better performing economy an improved standard of living.

“New Zealand businesses need to lift their spending on research and development and I am pleased to see that almost half of these successful research projects are co-funded by the firms which will directly benefit from the work.”

The projects range from medical technologies like early cancer-detection technology and smart gels to stop bleeding, to novel materials such as nano-technology insulation.

The funding has been welcomed by industry players.

Wellington-based breast imaging company Matakina is not one of the funding recipients but chief executive Ralph Highnam says it is good news for the industry.

Matakina has had its fair share of export success in recent months.

It has spent the last three years and upwards of $3 million investment in developing image processing software called Volpara. It can be used with any existing breast screening system to measure breast density.

The company has recently announced its first New Zealand sale to the Auckland Breast Centre.

Volpara was also chosen by the Dutch breast screening organisations and University Medical Centre Utrecht for a trial called the DENSE trial.

Sales have also been recorded across the US, South Korea and Malaysia, with trial units in almost every country in the world.

“The more funding for the high tech sector, the better,” Dr Highnam told NBR ONLINE.

Export New Zealand executive director Catherine Beard has long been advocating for a point of difference in manufacturing and says the high-tech sector is the way to go.

Many of these businesses do their own research and development but having a helping hand from the government is a positive step, she says.