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Innovation in New Zealand: 2003

Innovation in New Zealand: 2003

Innovation activity leads to tangible business benefits, according to Innovation in New Zealand 2003, a new report published by Statistics New Zealand.

The report found that businesses that passively adopt innovations are two and a half times more likely to have increased profitability than are those with no innovation activity. Businesses that are leaders in innovation activity are one and a half times more likely to have increased profitability.

Businesses which were first-to-market with new products and services were most likely to report that innovation activities opened new markets overseas (47 percent). A majority of innovating businesses reported an increased range of goods and services (80 percent), increased profitability (79 percent), improved efficiency (75 percent) and new or expanded markets within New Zealand (64 percent) as a result of their innovation activities in the past three years.

An innovation is defined as the introduction of a new or significantly improved product or service to the market, or process within a business. The Innovation Survey was developed by Statistics New Zealand in collaboration with the Ministry of Research, Science and Technology (MoRST), and will enable comparison with similar international surveys. Innovation in New Zealand 2003 is available at www.stats.govt.nz. A printed version is available on request for $35.

Brian Pink
Government Statistician

ENDS

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