22 March 2005
Bio Commerce key for economic growth
Links between science and business will be crucial drivers of New Zealand's future economic success, Research, Science
and Technology Minister Steve Maharey said today.
Speaking at the opening of the new Bio Commerce Centre in Palmerston North, Steve Maharey said that New Zealand's strong
research sector will be an increasingly important asset to businesses seeking an innovative edge.
"Technological innovation has always spurred economic progress, but today the links between science and business need to
be stronger than ever," Steve Maharey said. "Businesses must stay ahead of the curve by developing strong relationships
with research institutes and universities."
The new Bio Commerce Centre will facilitate networking between researchers, businesses and industry groups. It will also
help these groups explore potential research initiatives and develop ways to commercialise research findings and new
technology.
The Centre has been established as a regional development initiative between Industry New Zealand, Palmerston North City
Council and Massey University. It will build on the strong agricultural and biotech research base already present in the
Manawatu.
"The Palmerston North region already accounts for 4 per cent of New Zealand's core bio technology sector.
"With the advent of the Bio Commerce Centre the region is now placed to see its share of biotechnology companies rise to
reflect its contribution to biotech research. That's good news for the Palmerston North region and good news for the New
Zealand research community."
ENDS