Media Release

INNOVATIVE UNIVERSITY TO SPONSOR INNOVATE

1 February 2002

Otago University - one of the nation's leading research institutes - is the principal sponsor for next month's major gathering of business leaders, innovators and entrepreneurs: Innovate.

Innovate, to be held 5-7 March in Christchurch, will celebrate and showcase the success stories of some of New Zealand's top innovators. The Deputy Prime Minister Jim Anderton, said today it was fitting that the University of Otago should sponsor the event "because in many ways, the University has been remarkably successful at turning brilliant science into sound business."

"I'm delighted that the University of Otago has chosen to sponsor an event of such national importance," Mr Anderton says. "Its leadership reminds us that universities are the source of many of our most innovative technological developments, and that it is crucial that we 'tap into' this intellectual resource more effectively. The University of Otago, through successful ventures such as BLIS Technologies, shows that forging links between academia and business is not only mutually beneficial, but essential to the economic future of the nation."

Vice Chancellor Dr Graeme Fogelberg, who co-chairs the event with Mr Anderton, says the decision to sponsor Innovate was an easy one. "Otago is without a doubt a leader in the 'ideas industry'". With over 500 research-only staff in addition to its 1,500 academic staff and 1,600 graduate research students, the University is the largest research institute in the South Island and the second largest in the country. The Christchurch School of Medicine and Health Science, for example, is "one of the most important sources of clinically-based research" especially in the areas of cardiology and antioxidants. In total, the University spends $125 million a year on research which studies say results in an additional $137.5 million spill-over into the local and national economies.

"But our experience working with industry and business has taught us that to be successful, universities need more than great ideas; they also need a positive, business-friendly attitude and an organisational structure that can take these ideas out of the lab and into the market-place."

Otago, Dr Fogelberg noted, recognised the University's unique potential over a decade ago, setting up a Consulting Group - now called Innovate Otago -- to specifically identify the commercial potential of its intellectual property, and to match that IP with the right business and industry partners. The University has also ensured that its researchers receive a sizeable portion of the net returns accrued from the commercialisation of intellectual property.

"I think Professor John Tagg of BLIS Technologies is a perfect example of how years of dedicated research can reap rich rewards - for the individual researcher, the University, investors and New Zealand," he added. "Clearly, the Otago story shows that universities have a strong role to play in driving innovation in this country."

Dr Fogelberg will elaborate on some of the success stories and lessons learned by the University of Otago in a key note address at Innovate. Also featured at the event will be Professor John Tagg of the Department of Microbiology and Professor Colin Campbell-Hunt, author of "World Famous in New Zealand" and now a Professor of Management at Otago's School of Business.

Registrations for Innovate open today and interest in the event is high. Registration packs can be secured by visiting www.innovate.org.nz or calling 0800 2 INNOVATE.

CONTACT:

Jill Rutherford
Media Advisor
University of Otago
Tel 03 479 8263
Mobile 027 221 5616
Email jill.rutherford@stonebow.otago.ac.nz

Or
Wendy Pannett,
Senior Manager
NBPR
Phone 04 917 0380
Mobile 021 440 898
Email wpannett@nbpr.co.nz

Or
Sam Fisher
Office of Hon Jim Anderton
Tel 04 471 9289
Fax 04 495 8440
Email sam.fisher@parliament.govt.nz