Science and business go together

Media release
17 August 2009 (embargoed until 6.30pm)

Science and business go together

Science and business working together will bring great economic benefits for New Zealand.

That’s the view of Business NZ Chief Executive Phil O’Reilly, commenting on Resene Paints winning the What’s Your Problem New Zealand? competition.

The competition was devised by Industrial Research Ltd (IRL), to showcase and encourage research and development in New Zealand companies. IRL offered a million dollars worth of R&D services to the winning company.

Resene’s ‘problem’ was with widespread reliance on oil-based paints. IRL will now work with Resene in developing high performance water-based paints

Mr O’Reilly said IRL had used a highly innovative approach to fostering greater use of R&D.

“Getting science and business closer together is a key step towards growing wealth based on productivity and innovation. This is one of the major challenges for our time.

“I congratulate not only Resene Paints but all the hundred-plus companies that entered this competition and IRL for its foresight in running it.”

ENDS

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