University-Private Partnerships Acknowledged

Media release 6 May 2009

Importance Of University-Private Sector Partnerships Acknowledged

Prime Minister John Key’s acknowledgement that partnerships between universities and the private sector achieve real results that have a major economic impact has been welcomed by the organisation which represents university interests in this country.

Mr Key’s comments were made following the recent opening of the ICT Innovation Institute at the University of Canterbury and the NZ Vice-Chancellors’ Committee believes such developments underline the importance of public and private investment in universities as an essential part of the nation’s infrastructure.

NZVCC chair Professor Roger Field says it is good to see the Prime Minister acknowledging that the ICT innovation centre – known as NZi3 – will have benefits for the entire country.

“Universities will continue to emphasise their critical role in the innovation system and general economic and social development, whether it be through the successful commercialisation of university research or research-based university teaching.”

NZi3 is a venture involving both government and business with matching $10 million contributions to the project. Founding partners are Hewlett Packard, IBM, Jade Software Corporation and Tait Electronics. At the institute’s opening, Tait Electronics managing director Michael Chick said the partners were keen to see academics’ ideas turned into commercial reality.

“It’s good to see such recognition from business that universities are a potential source of research in this country and key to its future prosperity. We need to develop a clear pathway from university research breakthroughs to application of that new knowledge for commercial developments,” Professor Field says.

ENDS