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