Media release - 26 October 2006
Upcoming summit aims for closer link between business, researchers and government
Medical devices industry overcoming challenges in market by collaborating
An upcoming summit by the government and Business New Zealand aims to help business prosper by strengthening the links
between business, research organisations and government.
International surveys have shown that investment in research and development boosts business productivity and the summit
will discuss the challenges facing the sector and how New Zealand businesses and government can help to achieve high
productivity levels through collaboration.
The medical devices industry is just one example of where companies are overcoming the challenges of scale and the
limited capital available for investment by collaborating with research organisations and the government to ensure
research and development resources are put to their best use.
Dr Justin Vaughan, chief executive of BrainZ, a medical technology company specialising in the research, development,
manufacturing and sale of brain monitoring technology, says there is a growing recognition of the value of investment in
the medical devices industry.
BrainZ’s core product, the BRM2 brain monitor, was commercialised in 2002 and has gained significant share in the New
Zealand and Australian markets as well as finding success in 14 other international markets.
"This is a direct result of the initial investment from Auckland University, the New Zealand Government and local
investors who saw the potential of this product at the research stage," said Vaughan. "We have now brought in
international investors to assist us in fully globalising our technology."
Minister of Research, Science and Technology, Steve Maharey says the Capitalising on Research summit will inform the
government's ongoing work to accelerate the growth of Kiwi firms.
"A stronger connection between business and science is critical if we are to continue New Zealand's transformation to a
high-value, high-wage economy.
"BrainZ is just one example of how science pioneered in this country is enhancing the ability of our firms to compete
Business New Zealand chief executive Phil O’Reilly agreed and said: "For this to occur, a shared agenda needs to be
agreed by government, research organisations and the business community. The summit will provide the ideal platform to
discuss recent research, address current issues and decide the most appropriate actions for the future."
About the summit
The Capitalising on Research Summit will be held at the Sky City Convention Centre on 31 October and 1 November and will
include addresses by Hon Steve Maharey, Minister of Research, Science and Technology; Hon Dr Michael Cullen, Minister
for Tertiary Education; and high profile members of the business community such as Michael Davies, founder and chairman
of Endeavour Partners; Dr Robert Gilmore, Bodyworks Healthcare; and Dr Mike Matthews, Tatua Co-operative Dairy Co.