New Zealand’s biotechnology sector has experience strong growth and continues to build critical mass. Playing an increasingly important role to the economy, the sector contributes NZ$300-400 million a year and employs more than 2,200 people in 126 private and public sector entities.
Covering a range of niche sectors including agritech, medical devices and diagnostics, and human health applications, the result today is a vibrant biotechnology industry in strong growth mode.
New Zealand Trade and Enterprise (NZTE) is the government’s national economic development agency. It works to stimulate economic growth by helping to boost export earnings, strengthening regional economies, and delivering economic development assistance to industries and individual businesses. As a global organisation, NZTE uses its knowledge and contacts in overseas markets to connect New Zealand businesses with trade and investment opportunities.
NZTE’s strategy to date for biotechnology sector growth has drawn heavily on the recommendations from the 2003 Biotechnology Taskforce Report. Moving forward, the strategy will continue on these recommendations but will place an increased emphasis on support for selected projects.
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The New Zealand Biotechnology Strategy
NZTE's Biotechnology Sector Engagement Strategy's 10-year vision is "to accelerate the development and growth of an internationally integrated and acclaimed New Zealand biotechnology sector which leads the world in niche biotechnology application and commercialisation and attracts strong strategic relationships with investors, collaborators and markets".
The objectives of the strategy are:
- Supporting the growth of internationally successful core biotechnology, agritech and natural products companies
- Building New Zealand's international profile as a smart place to locate core biotechnology, agritech and natural products companies
- Stimulating the inward flow of investment
- Accelerating the consolidation of sector capabilities and infrastructure.