At AJ Park, New Zealand’s largest intellectual property (IP) law firm, we welcome the reforms to the science sector announced by the New Zealand Government, which has a focus on driving innovation and research through stronger commercialisation.
AJ Park's vision is to see a thriving innovation landscape in New Zealand. We believe that IP is not just about protecting ideas; it's about enabling innovation to thrive and grow in ways that can change the world.
The New Zealand Government announced the transformation of the current seven Crown Research Institutes into three Public Research Organisations (PROs) focusing on bio-economy, earth sciences, and health and forensic sciences. They will also establish an advanced technology PRO to deliver research, capability and commercial outreach around technologies such as AI, quantum computing and synthetic biology.
The Government also wants to reward and incentivise people in the industry which will be supported by a policy for managing IP for science, innovation and technology-funded research.
"Ownership of IP created within universities is a topic that has generated varied perspectives, and it’s clear there’s no one-size-fits-all solution. Historically, university ownership has been the norm in many countries, including New Zealand, where institutions have the legal right to claim IP created by their staff. This makes sense in the context of technology transfer, where universities, which invest heavily in resources and salaries, should retain ownership. However, the government is intending to move towards the University of Waterloo’s model, where researchers may retain ownership of their inventions, which challenges this norm and has been credited with fuelling a high rate of successful commercialisation and spin-off companies," says Dr Andrea Dickens, Managing Director at AJ Park, New Zealand’s number one intellectual property firm.
Further, the establishment of a Prime Minister’s Science, Innovation and Technology Advisory Council will provide strategic direction and oversight of the system, advise on priorities and identify the biggest opportunities to leverage science, innovation and technology for economic growth.
Read more on the New Zealand Government website.
"Historically, there has been a strong relationship between a thriving innovation ecosystem and a strong economy. So, the Government's laser focus on innovation commercialisation is a step in the right direction," says Andrea.
"I am excited to see innovation commercialisation brought to the forefront, as it can often been overlooked or underfunded. Education on how to commercialise ideas and where to seek assistance will be crucial for helping researchers and universities succeed. Additionally, incentives for researchers should encourage engagement in this vital stage of the research process."
"Although funding opportunities are still unclear, the newly established Advisory Group will provide a welcomed framework that will help direct funding toward activities with maximum impact."
Driving innovation commercialisation is critical to put New Zealand on the map as an innovation powerhouse as well as attract investment. I'm excited to see how this progresses; the wheels are in motion to nurture a thriving innovation landscape in New Zealand.