New Zealand’s economic performance needs a step change improvement. Although economic prosperity, as measured by real GDP per capita has grown, on average, by around 2% per annum since 1990, New Zealanders earn around 20% less than the OECD average and we are not catching up.
The prosperity of advanced economies is driven strongly by innovation performance. And innovation performance depends on having an effective innovation ecosystem; the institutions and resources that produce scientific and other innovations and convert them into commercial and economic benefit.
New Zealand has done a lot to lift the performance of the innovation ecosystem but we remain disadvantaged relative to other advanced economies. The good news is that there are worthwhile opportunities to lift performance.
You will not have missed the intensification of efforts in New Zealand to find ways to lift economic performance, including the performance of the commercialisation of science. Government has established taskforces looking at research, science and technology priorities, the CRIs and Business R&D. The New Zealand Institute’s contribution is to identify opportunities to improve commercialisation outcome and the overall performance of the innovation ecosystem.
Today we have posted on our website a short opinion piece that highlights priorities for improving commercial and economic outcomes from science along with a PowerPoint presentation that takes a deeper look at the opportunities for improving the innovation ecosystem performance.
We will soon release a discussion paper that will explain in more detail why New Zealand needs an effective innovation ecosystem, how current performance falls short of what we would like and what we should do about it.
We welcome your feedback on the materials posted today. We will use that feedback to improve the content of the discussion paper and to help guide our efforts as we move from the research phase into advocating adoption of our proposed solutions.
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