Science and business driving economic growth

High-quality research and cutting-edge business development will form a winning partnership in the Government's new Technology Transfer Voucher scheme, says Research, Science and Technology Minister Wayne Mapp.

 

"Research and development is a key driver of economic growth. Technology Transfer Vouchers provide businesses with a tool to get more knowledge and technology from the science sector and build success in the marketplace.

 

"The smart application of science and technology will accelerate business growth. The voucher programme creates a tool to enhance the necessary connections between the science and business sectors," he said.

 

 "It is crucial that we get the best out of our scientific research, to support the business growth and innovation which will benefit all New Zealanders."

 

Dr Mapp announced the six research organisations who will lead the first phase of the voucher programme at WelTec's Petone campus today. They are:

• Industrial Research Limited
• The University of Canterbury
• Auckland University of Technology
• The University of Otago
• The Wellington Institute of Technology

 

"We are making a start with these six organisations. More will be brought on board next year," the Minister said.

The programme is one of the new R&D initiatives announced in the May Budget. The vouchers enable businesses to access research services and expertise for a specific R&D project. They are targeted at businesses that have limited or no in-house R&D capability of their own.

The programme, run by the Foundation for Research, Science and Technology, will provide a business with 50 per cent funding to redeem with one of the six research organisations.

Businesses will be able to apply for a voucher from the Foundation from 1 November.