Wanted: More business-savvy science people

15 February 2007

Wanted: More business-savvy science people

Developing more business-savvy science people to promote wealth creation in the Wellington region is the vision behind a new initiative between Victoria University and Industrial Research Ltd.

The Tertiary Education Commission has invested $620,000 in the initiative, which will go towards the appointment of a Chair in Entrepreneurship, based in the University’s Victoria Management School.

The person appointed as the inaugural Professor in Entrepreneurship will shape the development of a new programme that supports the growth of more science entrepreneurs in the region. Ultimately, this will act as the catalyst for creating new wealth for greater Wellington, so there is less dependency on tourism, education and government services.

Pro Vice-Chancellor and Dean of Commerce & Administration, Professor Peter Thirkell, says there has long been a strong science community in the region and plenty of business structures in place, but missing is an element to bring the two together.

“We’ve got the engine - now we need the fuel - and the fuel is the people with the right sort of attributes. This collaborative programme with Industrial Research, and appointing a Chair in Entrepreneurship at Victoria, is about developing human capital and realising the potential in our area.”

Industrial Research’s Chief Executive, Shaun Coffey, agrees this is a pivotal step in the right direction.

“The shortage of the right people can impact our ability to turn science intellectual property into commercial outcomes, and to also link with existing small to medium sized businesses. It’s been a long time coming, but this initiative is essential for strengthening our resource.”

Any new curricula will feed into New Zealand’s growth and innovation framework, and will initially take a biotechnology-business push.

Professor Thirkell says the initiative is a good fit for both Victoria and Industrial Research.

“There are lots of synergies. Our Commerce & Administration and Science faculties have a history of joint initiatives, including our conjoint BCA/BSc degree and our Master of Management Studies in Technology programme, which focuses on the management of science, and the strong biotechnology focus of both organisations.”

An international search for the ‘Chair Entrepreneurship’ is currently underway with an appointment expected to be made later this year.

Once an appointment is made, activity will kick-off with an inventory of entrepreneurial capability in the region, to determine the best way forward for developing the programme. A key aspect though will be to ensure a better fit for entrepreneurial learning – largely involving a shift from traditional teaching methodologies to more applied techniques.

Professor Thirkell says the programme, will include a mix of executive development and on-the-job mentoring, and be primarily aimed at emerging entrepreneurs.

Workshop programmes and course options for scientific entrepreneurs will likely be finalised around September 2007.

ENDS

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