The Prime Minister’s Chief Science Advisor, Professor Sir Peter Gluckman, has released a report on improving the translation of publicly funded research for economic benefit.

The report follows a workshop chaired by Sir Peter in September where he explored issues such as the public funding system of science, translating science to business, and incentives to encourage business to increase expenditure on research.

“A high proportion of New Zealand’s research in science and technology is performed by the public sector,” says Sir Peter. “We need to exploit this knowledge effectively to increase New Zealand’s level of innovation and economic performance.”

Sir Peter’s report recommends developing measures to encourage staff in public research institutes like universities and polytechnics to engage with the commercialisation of their work. It also calls for the development of a range of funding mechanisms to encourage business investment in research and innovation.

Professor Sir David Skegg, who chairs the NZVCC’s Research Committee, has welcomed the report, saying it suggests that greater weight should be given to building critical mass around key academic leaders.