Commitment to Innovation in the New Zealand Budget

The New Zealand government published its 2019 budget on 30th May.

The Wellbeing Budget looks at social, environmental and economic factors as a whole, addressing not only present needs, but ensuring long-term implications are considered as well.  Initiatives include supporting innovation, social and economic opportunities, as well as transitioning to a sustainable and low-emissions economy.

Below are a number of programmes that will benefit from this year’s budget.

 

Industry 4.0 Demonstration Network

Industry 4.0 refers to automation and data exchange in manufacturing.  Technologies such as cloud computing, artificial intelligence and the internet of things are applicable here.

Just under NZ$6.8m, over four years, has been allocated for an Industry 4.0 Demonstration Network that includes a mobile industry showcase and two ‘smart factories’, that businesses and individuals can visit in order to learn more about the technologies and concepts.

 

New Zealand Food Innovation Network

The New Zealand Food Innovation Network is a national network of resources and expertise to support food and/or beverage businesses, that can help take new products and processes all the way from ideas to commercial success.

The budget has allocated over NZ$9.5m, over two years, to this network.

 

Technology Incubators

Aotearoa’s Technology Incubators provide investment and active support to commercialise complex, hi-tech technologies.

NZ$25.5m has been allocated from the Wellbeing Budget to support the commercialisation of innovation, which includes funding towards these Technology Incubators.

 

NZ Product Accelerator

The NZ Product Accelerator, from the University of Auckland, bridges the gap between research and commercialisation in the material sciences and manufacturing fields.

Bioresource Processing Alliance

The Bioresource Processing Alliance engages in primary sector bioprocessing in New Zealand, to get better value out of biological waste streams.

Together, these two initiatives have received NZ$18m to continue.

 

Gracefield Innovation Quarter

Located in Lower Hutt (to the north-east of Wellington), Gracefield Innovation Quarter is an industrial suburb where resident businesses can benefit from access to specialist facilities and expertise to support them.

NZ$75m has been released by the budget towards the redevelopment of the site.

 

Impact

New Zealand is a centre of hi-tech innovation and creativity, producing many cutting-edge technologies, companies and associated intellectual assets.

It’s encouraging to see the government supporting such initiatives and I encourage everyone with a connection to New Zealand to support these initiatives in turn, to make the most of the opportunities they provide.

Alistair Curson

 

References:

Bioresource Processing Alliance. “Bioresource Processing Alliance”. Retrieved June 20, 2019, from: https://bioresourceprocessing.co.nz/

Callaghan Innovation. (2019, May 29). “Technology Incubators”. Retrieved June 20, 2019, from: https://www.callaghaninnovation.govt.nz/access-experts/technology-incubators

Callaghan Innovation. (2019, May 31). “Budget 2019 signals strong commitment to innovation and high-value tech”. Retrieved June 18, 2019, from: https://www.callaghaninnovation.govt.nz/news-and-events/budget-2019-innovation-and-high-value-tech

Callaghan Innovation. (2019, June 12). “Gracefield Innovation Quarter”. Retrieved June 20, 2019, from: https://www.callaghaninnovation.govt.nz/technology-and-product-development/gracefield-innovation-quarter

Corner S. (2019, May 31). “New Zealand budget gives Industry 4.0 a $NZ6.8m boost”. Retrieved June 20, 2019, from: https://www.iotaustralia.org.au/2019/05/31/iotnewanz/new-zealand-budget-gives-industry-4-0-a-nz6-8m-boost/

New Zealand Food Innovation Network. (2019). “Supporting the Development of the New Zealand Food & Beverage Industry”. Retrieved June 20, 2019, from: https://foodinnovationnetwork.co.nz/

NZ Product Accelerator. “About Us”. Retrieved June 20, 2019, from: http://www.nzproductaccelerator.co.nz/en/about-us.html

NZ Product Accelerator. “The Manufacturing Materials Network”. Retrieved June 20, 2019, from: http://www.nzproductaccelerator.co.nz/en/our-network.html

The Treasury Te Tai Ōhanga. (2019, May 30). Budget 2019. Retrieved June 18, 2019, from: https://treasury.govt.nz/publications/budgets/budget-2019

The Treasury Te Tai Ōhanga. (2019, May 30). Budget at a Glance: The Wellbeing Budget. Retrieved June 18, 2019, from: https://treasury.govt.nz/sites/default/files/2019-05/b19-at-a-glance.pdf

Wikipedia. (2019, June 17). “Industry 4.0”. Retrieved June 20, 2019, from: https://en.wikipedia.org/wiki/Industry_4.0

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