Innovation report deserves scrutiny

Media release
22 August 2007

Innovation report deserves scrutiny

The latest OECD report on innovation policy provides valuable insights into New Zealand’s strengths and weaknesses in research, science and technology, says Business NZ Chief Executive Phil O’Reilly.

“It confirms those areas where we do well, including competent public administration and strong institutional capabilities.

“It also points to areas requiring improvement, such as lack of investment in business R&D and issues with the funding of Crown Research Institutes.

Mr O’Reilly all parties should take a serious look at the OECD recommendations including:

* Improving New Zealand’s business environment and conditions for innovation, including policies on tax, capital markets and outward investment
* Encouraging more young people to study science and technology
* Improving the supply of seed and venture capital
* Improving broadband access
* Improving the stability of CRI funding
* Using licensing to business firms as the preferred route to exploiting CRI research results
* Considering consolidation in the public research sector

“There are valuable insights here for all parties involved in research, science and technology, including business, Government and the research sector,” Mr O’Reilly said

ENDS

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