Business can benefit from New Zealand's existing research culture in five ways, says Professor Ralph Cooney.
* A commitment by industry to begin the research and development needed for products and processes that will be released to market in the next 10 or 15 years.
Industry cannot afford to stand still. For example, paint products developed 15 years ago are no competition for modern products: the difference is R&D.
* Recognition that R&D is an ongoing long-term investment that should not be viewed as opportunistic and short-term.
The world's top 300 companies collectively invested $254 billion in research in 1998, an 11.9 per cent rise over the year before.
Investment in R&D brings quantifiable returns. For example, a 15-year R&D relationship between the University of Auckland and Comalco led to the development of a multimillion-dollar scrubbing plant.
* Market innovative products worldwide, not merely to Australia and New Zealand. Asia will be very important. New polymer coating products developed in New Zealand and marketed in Asia are already a success story.
* Regard the over-supply of New Zealand commodities as an opportunity for innovation. For example, abundant supply from our commercial forests has potential well beyond existing uses as processed timber or feedstock for pulp and paper mills. Wood fibres can be combined with other materials for applications as wide-ranging as adhesives and moulded components.
* Develop partnerships within the broad R&D capacity already at universities to advance the development of commercial products (for example, in genetics and electronics).
Bsiness benefits from research
AdvertisementAdvertise with NZME.