... but New Zealand is still lagging behind its OECD peers according to the 2013 IBM Innovation Index.
IBM has released the 2013 IBM Innovation Index of New Zealand, a multi-indicator study tracking the shape and rate of local innovation from 2007 to 2011.
It finds that New Zealand’s overall innovation rate increased 3% in the four years to 2011, bolstered by increased spending on R&D during the global financial crisis. This investment balanced static Business Innovation results and a fall in IP registrations.
The Index shows that local R&D expenditure grew strongly – at an average rate of 7.6% per year – between 2007 and 2011, largely driven by the public sector. The equivalent of 4,600 full-time R&D jobs were created during this period. However, when the economy started to recover during 2011–12, the growth in R&D expenditure slowed to an average of 3.7% per year. As a result, New Zealand’s R&D intensity (the proportion of Gross Domestic Product spent on R&D) remains low compared with other OECD economies.
Read the full article at geekzone.co.nz.
Updated: 4 September 2015