Innovation Policy in New Zealand
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Transcript of Innovation Policy in New Zealand
New Zealand and Innovation
Recommendations to Prime Minister John Key
A Prime Place to Do Business World’s most liberalized economy and 2nd
best for doing business according to the World Bank
One of the world’s most transparent and least corrupt institutional environments
3rd strongest property rights, world’s strongest investor protection environment
Main Challenges: Small and Isolated
Barriers to Innovation
Innovation Goals
Enhance the innovation framework
Develop an educated, globally competitive workforce
Foster innovation through public-private partnerships
Focus initiatives in areas which can have maximum impact.
The Plan: Education + Incubation = Innovation 1. Invest in education
Post-secondary and poly-technical programs Enhance the pre-exisiting skilled workfrace
II. Create leadership and management institutes
Businesses lack the proper resources to devise innovation strategies
III. Host R&D symposiums sponsored by the government
Bring together industry leaders in multi-sector events
Education + Incubation = Innovation I. Establish a national institute for sustainable
innovation Not just for bio-tech and ICT
II. Provide resources for tier 2 and 3 industries Expand innovation to hospitality, health and community
services Subsidize R&D and encourage sustainable practices
III. Develop policy and incentives to foster larger firms in concentrated city centers
IV. Expand exports – enter the global marketplace
Poised for Success