Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Growing Good Ideas And Making Them Work

The Government will help grow ideas and match them with investors, Minister for Research, Science and Technology Maurice Williamson, and Enterprise and Commerce Minister Max Bradford announced today.

"The Government will increase the New Economy Research Fund (NERF) by $25 million, from $11.25 million to $36.25 million in 2000/2001, through a transfer of existing funds from the Public Good Science Fund," Mr Williamson said.

"The increased contestable NERF funding will be available for research into uncharted areas with the aim of creating ideas that will form tomorrow's businesses. The agency responsible for managing the fund will be announced next month.

"The Government has also agreed in principle to increase the funding of the existing Technology New Zealand Scheme, and to extend its scope to encourage research skilled people to commercialise their ideas into business ventures," Mr Williamson said.

Minister for Crown Research Institutes Simon Upton said the Government, as an owner of CRIs, was a major player in growing ideas and making them work.

"We want to ensure that there is every incentive for CRI research to get to market," he said.

Mr Williamson said the Government would also spend over $2 million a year on a national 'ideas' incubator to ensure ideas left the laboratory and entered the economy.

"In a knowledge economy ideas are our greatest assets. We have to nurture them and ensure that good ideas are not stifled by an inability to raise development funding, or by regulations that act as roadblocks.

"The incubator will provide business expertise to get companies to the point where others can invest in them. It will be a mechanism for testing good ideas, fostering fledgling entrepreneurs and turning embryonic businesses into winners," Mr Williamson said.

Mr Bradford said the design and delivery of the incubator initiative would be finalised by September 30.

"We are also going to make it easier for bright ideas to attract the investment they deserve.

"The Government will help the New Zealand Stock Exchange to design and develop a new capital market that can turn people's innovative ideas into commercial reality.

"This market will organise investors and encourage Kiwis to back innovative ideas and become skilled risk-takers.

"The new capital market will focus on companies seeking between $500,000 and $1 million and will be up and running by April next year," Mr Bradford said.

"We will also reduce the costs to firms of raising capital by amending the Securities Act.

"This will increase fundraising options for small and medium enterprises and make it cheaper and easier for them to raise capital by way of issuing equity securities," Mr Bradford said.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news