Source: New Zealand Government
Ngā mihi te rangi, ngā mihi te whenua, ngāmihi ki a koutou.
Vice-Chancellor Professor Nic Smith, Deputy Vice-Chancellor Professor Margaret Hyland, Director of Wellington UniVentures, our partners from Booster NZ, and of course, the entrepreneurs showcasing their work tonight – thank you for the invitation to join you at this celebration of innovation and collaboration.
Tonight’s event is a showcase of what can happen when world-class research meets entrepreneurial drive. The partnership between Wellington UniVentures and Booster NZ represents New Zealand ingenuity – and I am delighted to be here.
One of the real strengths of Wellington UniVentures is the way research is intentionally designed to have an impact. This is research that doesn’t just sit on a shelf.
The numbers speak for themselves. In 2024 alone, UniVentures worked with university staff to secure over $5 million in external research funding. This demonstration of support from industry also strengthens Victoria University of Wellington’s reputation.
And it’s not just about funding – it’s about impact. Innovations from the university are emerging in bio-health, MRI development, cancer treatments, AgTech, and superconductivity. This is a pipeline of ideas that can transform industries and lives.
I am informed that the partnership with Booster NZ, which began in 2018, has been a critical enabler of this work. Booster’s journey – from its KiwiSaver launch in 2007 to its role today as a driver of New Zealand innovation – is a story of using local capital to create local opportunity.
By linking KiwiSaver investments to our own world-leading research, this partnership ensures that the benefits of innovation – the profits, the knowledge, and the opportunities – stay right here in New Zealand.
When academic and business communities come together, as they do here, they turn research into real-world solutions. These are not separate worlds. Both are driven by curiosity, creativity, and the desire to make an impact.
As Minister for Universities and Science, Innovation and Technology, my role is to strengthen the bridge between these two worlds. By bringing these portfolios together, this Government is making it easier to connect brilliant research with the entrepreneurial and technological ecosystems that can take it to the next level.
The partnership we are celebrating tonight does exactly that. It looks squarely at community and national challenges – and applies ingenuity to solving them. This is the kind of work that underpins New Zealand’s economic future.
Across the country, our universities have a history of commercial collaboration. Commercialisation and innovation are not side projects. They are essential to building the entrepreneurial ecosystem we need. And, as we see tonight, these partnerships turn research into initiatives that have real, measurable impact.
This is one of the reasons our tertiary institutions are so attractive – to both domestic and international students. Our universities produce leaders in science, the arts, business, sport, and public life. And increasingly, they are producing innovators – people creating jobs, driving economic growth, and improving the lives of New Zealanders.
This aligns closely with the Government’s Going for Growth agenda. Science, innovation, and technology are important for that plan – because they are important for unleashing our country’s economic potential.
And to achieve that, we need to ensure that our researchers are rewarded for their creativity and entrepreneurship.
That is why the Government will be developing a national Intellectual Property policy for science, innovation and technology-funded research. This will be based on principles from the successful model used at Canada’s Waterloo University, where the ownership of IP rests with the researchers who create it.
We want to make sure that those who have the ideas – and the drive to turn them into commercial success – share in the financial rewards. Fundamentally we want more agency for creators and inventors. Through the NZX-listed Booster Innovation Fund and the university partnership fund, around $7.2 million has been invested in 13 companies born from this university’s research.
Today, those companies have a combined enterprise value of over $200 million. That is a marvellous achievement – for Wellington, and for New Zealand.
And we are only just getting started. With the new Public Research Organisations and the New Zealand Institute of Advanced Technology, there is even more potential to connect university research with national-scale innovation.
So tonight, I want to acknowledge everyone who has made this partnership thrive:
the Vice-Chancellor and university leadership,
the Wellington UniVentures team,
the Booster NZ team,
and the entrepreneurs who are turning bold ideas into reality.
By building partnerships like this – and by prioritising commercialisation and entrepreneurial opportunity – we ensure that the remarkable research being conducted here creates real-world outcomes that benefit New Zealanders.
Congratulations on everything you have achieved so far, and thank you for the invitation to celebrate with you this evening.
Tēnā koutou, tēnā koutou, tēnā tātou katoa.