Peterson’s Perspective: Will the science and R&D plan work?
by Gilbert Peterson on www.mscnewswire.co.nz For the past six years New Zealand’s innovation landscape has been littered with dithering and waste as the country’s investment in science and R&D failed to rise to an average OECD performance. With that in the background this week’s announcement of the new ‘National Science Strategy’ and Building Innovation plan, must surely be Minister Steven Joyce’s last shot at gaining traction in this the economy’s weakest performing, and most critically exposed area. The launch of the new way forward for science and innovation is at least as important, if not more so than the announcement of the TPP agreement though totally eclipsed by it. But the question remains: Will the new approach prove the most efficient and effective way to move science investment and its commercialization significantly forward? Certainly Science and Innovation Minister Joyce deserves congratulations for hearing what business and the science community had to say, and coming up with a plan to address their concerns. For the first time I can recall the minister articulated clearly the economic value contribution made by science and R&D to the nation. In launching Building Innovation he said: “Successful innovation improves competiveness, increases our output, drives productivity growth, and creates successful exports by introducing new or improved products, processes, or methods into the economy.” Bravo for that. Our future prosperity depends on innovation and the science and R&D that underpin it. The chief economist of the Ministry of Business, Innovation and Employment, Roger Proctor, spelled this out in a blog earlier this year. In answering the question, ‘Where does income growth come from?’ he said it comes from increases in productivity that occur when new things are produced that people are willing to pay more for than they cost to produce, and by producing new things we […]