Survive and thrive through innovation

TechNZ recently hosted a series of nine 'survive and thrive through innovation' research and development workshops throughout New Zealand to help businesses get ahead despite the recession.

John Cunningham and Eileen Basher have developed the TechNZ handbook Survive and Thrive Through Innovation - a guide to using R&D for business growth

The events, held in conjunction with regional TechNZ partners, were aimed at giving companies new tools to identify emerging business opportunities, develop new products and prepare for the inevitable economic recovery.

TechNZ is the business investment programme of the Foundation for Research, Science and Technology, the Government's principal funder of research and development.

Each year, TechNZ invests more than $50 million in New Zealand businesses. "Innovation through research and development drives business growth,' says Eileen Basher, the Foundation's director of business investment. 'In these uncertain times it's critical that this continues. If companies wind down and do the bare minimum, they will be lagging behind their competitors when the economy improves.'

The workshops were led by John Cunningham, executive director of Ignition Partner Ltd, an Auckland firm specialising in helping companies with strategies for growth from innovation. Mr. Cunningham says some companies grow at 25 per cent annually while others wither and die, with the difference linked to innovation. 'You have to be creative, innovative and courageous to grow in this environment,' he says. 'Technology, development and innovation are engines of growth. How companies respond to and deal with innovation can often be the difference between their success and failure. Innovation and the commercialisation of good ideas are an essential part of keeping a business sustainable and competitive.'

The workshops also helped businesses to tap into the knowledge of Crown research institutes and universities. The workshops were named after a TechNZ handbook Survive and Thrive Through Innovation - a guide to using R&D for business growth. The handbook helps businesses navigate six steps of a successful research and development programme, from the spark of an idea through to developing a product and establishing new markets. Among presentations at the workshops were real case study examples from local companies who have used TechNZ funding to grow their business.

For further information visit www.technz.co.nz

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