Accelerate - June 2013

R&D spend showing upward trend

... 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.

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Updated: 4 September 2015