Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search

 

NZbio welcomes $13 million budget boost

NZBio welcomes the announcement of a $13 million boost for the Pre Seed Accelerator Fund in Budget 2006.

“The commercialisation of research, particularly in the biotechnology sector, will play a key role in New Zealand’s economic transformation and long term sustainability, and considerable effort has been made by NZBio to ensure policy makers appreciate this,” NZBio’s CEO Brian Ward says.

“NZBio has been instrumental in bringing focus to this important area through our sustained efforts over the last two years to encourage the Ministry of Research Science & Technology (MoRST) to address commercialising proof of concept projects as a critical element of technology development.

“We have continued to emphasise its critical importance throughout MoRST’s Picking up the Pace initiative, and in subsequent meetings with officials and the Minister for Research Science & Technology, Steve Maharey.

“It is almost universally acknowledged that biotechnology will be an essential part of creating dynamic, knowledge-based economies that support the economic, environmental and social wellbeing of the entire population.

“Increased funding to commercialise early stage research projects is vital, to leverage investment in the science system, compete internationally and capture the benefits of the abundant pipeline of innovation in New Zealand.

“This budget builds on gains already made from boosting the Technology for Business Growth scheme and the creation of the Seed Co-Investment Fund. We are also encouraged by the announcement of an extra $60 million for the Government’s Venture Investment Fund, which is targeted at New Zealand firms with high growth potential.”


ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: