R&D services on offer for competition winner

Media Release

16 March 2009

EMBARGOED UNTIL 6pm MARCH 16, 2009

Up to $1 million worth of R&D services on offer for competition winner

Chief Executive of Industrial Research Limited (IRL) Shaun Coffey today  announced the Crown Research Institute would award up to $1 million worth of R&D services to the winner of its “What’s Your Problem New Zealand?” competition.

The competition seeks to encourage New Zealand businesses to look to the future, given the present tough business environment. One of the aims of the competition is to increase industry involvement in R&D activities to enable them to develop world-leading, high-value products for offshore markets.

“While the economic outlook is challenging, the current environment also provides opportunities – opportunities for New Zealand businesses to change the way they operate, to ensure they can not only survive the tough times but prosper in the long term and in doing so collectively strengthen the New Zealand economy,” he said.

Shaun Coffey announced the competition at a launch function held at Te Papa in Wellington to an audience of business leaders, Government representatives and R&D providers.

The winning entry will, to the judges’ satisfaction, meet the following criteria:
It will accurately describe their business’ vision and direction, its target markets and market positioning.
Clearly define the technology problem or R&D need of the New Zealand company.
Identify key IRL capabilities required to develop the novel solution.
Describe the impact, eg. financial, spillover and / or economic benefits the $1m solution will have on the business.
Identify the additional resources within the company to take the novel solution into growing markets.
 
The competition will adopt a two-staged process to ensure a short-list of applicants are paired with IRL leads.  IRL will work with the finalists to properly define the scope of the R&D project and establish clear milestones and expectations.

Intellectual property firm, A J Park, is a sponsor of the competition.  A J Park will also work with the finalists to ensure that they have a strategy in place to protect their IP.

Managing Partner, Greg Arthur commended IRL for encouraging businesses to continue their R&D in the current economic climate.

“It’s important that, as a country, we’re generating ideas and that we protect those ideas.  For most businesses, IP is a key asset.  Protecting your intellectual property makes good business sense now and for the future,” Mr Arthur said.

The Hon Dr Wayne Mapp, Minister for Research Science and Technology, who also spoke at the event, says the Government is encouraged by the aims of the competition.

“New Zealand firms are facing significant challenges in the current business environment I believe that innovative R&D solutions have a significant part to play in assisting New Zealand businesses to meet these challenges. I commend Shaun Coffey and the team at IRL for developing this initiative to raise the profile of R&D and its benefits.”

Shaun Coffey said most New Zealand manufacturers understood the need to invest in R&D to develop high value products that would compete on performance, not price. “We want to help them realise that aspiration.

“Far from being a sunset industry, manufacturing could be for New Zealand the goose that lays the golden egg – emancipating the economy from the strictures of the commodity cycle and becoming a catalyst for sustainable economic growth.”

From developing assistive devices that improve the quality of life for the disabled, to the discovery and synthesis of carbohydrate drug candidates and the use of quantum dots to improve the efficacy of solar cells, IRL’s scientists and engineers cover a diverse range of the science and technology spectrum.

“Organisations like IRL work hand in glove with New Zealand business and will increase that engagement over the coming years to develop high-value products that are in demand by discerning consumers in offshore markets.

For more information on the competition, guidelines and rules visit www.whatsyourproblemnz.co.nz phone 0508 CALL IRL or email info@whatsyourproblemnz.co.nz

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