Newsletter No. 8 - April 2002

Promoting a strategic approach to R&D investment

Technology New Zealand (TNZ) is moving to a more proactive and strategic approach for its R&D investment. Rather than receive "ad hoc" projects from companies they are encouraging businesses to undertake Technology Strategy Planning. The outcome being a "Technology Plan" which support/underpins their overall business plan. Based on the technology plan TNZ are looking to underwrite the technical risk of projects through their various funds.

To support this direction they have available a new programme which will support the development of a technology plan up to a value of $25,000.

It is expected that the company will contribute both cash and in-kind to the project. Projects are funded up to 50% of the total cost for companies with a turnover of up to $50M.

Essentially, a Technology Plan works well when a company has a clear commercial strategy in place. The Technology Strategy Planning exercise should identify what the business needs to do to meet their commercial strategy, from a technology development perspective.

The outcome is a plan for a company that will take them through the next 3-5 years. It should include:

• List of potential technologies in relation to commercial strategy and market opportunities.
• Identification of potential projects and necessary capability.
• Evaluation of projects and a priority list drawn up.
• With priority projects, an evaluation of the technology gaps.
• Identification of expertise which will be required both internally and externally
• Initial scope of possible project(s) with costings and required resources identified.
• Possible funding options identified.
• Timeline.
• Next Steps outline.

Please contact us if you would like to know more about R&D strategies and Technology Strategy Planning.