$6.6 million for education/business projects

15 February 2007

$6.6 million for joint projects between the tertiary sector and business

The Tertiary Education Commission (TEC) has awarded $6.6 million to 11 new tertiary sector-based projects in the areas of biotechnology, design, and information and communications technology, TEC Deputy Chief Executive Dr Colin Webb announced today.

“This new funding is for projects that build capability and strengthen partnerships between tertiary education organisations and business, and help bring cutting-edge ideas to the commercial world,” Dr Webb says.
“Stronger ties ensure that tertiary teaching and research are responsive to business needs and that business can access the knowledge and expertise in the tertiary sector.

“By working together, tertiary education organisations and business can find innovative ways of creating value and harnessing new technologies to improve economic performance.”

Some examples of newly-funded projects include:

• Waikato Institute of Technology, which is receiving just over $1 million to develop an AgBiotech Innovators’ Academy. This academy will facilitate knowledge sharing, capability development and entrepreneurship between key players in the agricultural biotechnology sector. Partners include the University of Waikato, Lincoln University, Innovation Waikato, AgResearch, and a range of businesses involved in agriculture and biotechnology.

• Unitec New Zealand, which is receiving $1.19 million for a project known as “the Hothouse” that aims to develop a community of design innovation. Design-led companies, such as Lexicon and Design Mobel, and Unitec design and business school staff and students will jointly develop ideas and turn the best ones into commercial reality.
Dr Webb said today’s funding announcement aligns with the tertiary reforms currently underway.

“One of the chief objectives of the reforms is to improve tertiary education organisations’ understanding of and responsiveness to the needs of key stakeholders such as business.

“This funding is clearly in support of this objective.”

The projects are funded through the TEC’s Growth and Innovation Pilot Initiatives.

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