Research funding partnership congratulated

The $700 million Government funding announced for the pastoral and food industries has enormous potential, says Business NZ Chief Executive Phil O’Reilly.



“This an excellent model for commercialising research, based on research-industry collaboration.



“Because it will be matched funding, with private sector contributions pledged to equal the taxpayer funding involved, it is likely to bring better commercialising of science research than in the past.



“Industries taking part in the partnership will naturally want to see commercial outcomes for their investment, bringing focus and drive to the scheme.



“Of course this is not the only sector in need of substantial investment. The wider manufacturing sector, for example, could grow further into more value-added and high technology areas, and add far more to the wealth of New Zealand Inc., if supported by this kind of partnership.



“The Government and partnership industries involved are to be congratulated for this bold move.”



Phil O’Reilly is Chair of the Capitalising on Research Action Group, a public-private partnership aimed at gaining more economic benefits from science investment.