| New-Zealand's bio-tech industry is flourishing and the | | | | biological science. The development has been |
| government is dedicated to speeding up the | | | | cemented by the fact that successive governments |
| development of this knowledge based industry. The | | | | have supported the increased investment and |
| opportunities for investors will continue to grow as a | | | | development of biological research. Currently the |
| result of the government taking a series of positive | | | | primary focus is concentrated on research areas to |
| steps to promote the growth. It has established a | | | | develop medium term commercial applications in |
| US$40 m venture investment fund specifically for the | | | | biological sciences. The government has many ranges |
| development of bio-tech sectors. | | | | of grants that can be availed by local and international |
| Biotechnology has been recognized by the NZ | | | | organizations. |
| Government as a sector with the potential to make | | | | The royal commission of inquiry has mentioned in its |
| substantial contributions to social well being and | | | | report that genetic modification and its application |
| economic growth of the country. Hence, it has been | | | | need to be supported and NZ stands to miss huge |
| included in the Growth and Innovation Framework. | | | | opportunities if it fails to do so. This provides enough |
| The NZ government's Biotechnology Strategy was | | | | evidence that potential investment in biotech |
| released in 2003. The primary objectives of the | | | | industries will be welcomed and supported in NZ. |
| strategy involve promoting growth of the sector to | | | | Setting up a biotech industry in NZ has many |
| raise economic and community welfare. It also | | | | advantages. |
| focuses on the regulations that offer robust | | | | It has a good supply of animal obtained biological |
| safeguards without obstructing innovation. | | | | materials |
| In current times, most of the biotechnology research | | | | Good supply of marine derived natural products |
| and related business is concentrated on health and | | | | A prominent source of raw materials for human |
| well being related applications and knowledge. The NZ | | | | and animal pharmaceutical products. |
| government has applied no restrictions on the | | | | Manufacture of wide range of blood based |
| percentage of equity a foreign investor can have in | | | | products such as antibodies and proteins. |
| biotechnology ventures. This sector is poised for high | | | | The cost of biotechnology research and development |
| growth due to many reasons. Biology based | | | | facilities in NZ is 40% to 50% less than Europe and |
| industries account for 60% of gross national product. | | | | USA. Thus, this serves to be a great advantage for |
| Biotechnology industries in NZ have become world | | | | foreign investors who are looking for cost efficient |
| leaders due to investments in genetic management, | | | | research and development. The cost structure of |
| process development and land management. This | | | | clinical studies in New Zealand is also quite attractive. |
| past foundation of scientific achievement gives the | | | | Companies can collaborate with New Zealand |
| current investor a competitive edge in biotechnology | | | | research groups that have strong foundations and |
| projects. | | | | brief history in the biological science field. Affordable |
| Biotechnology Industry has a legacy in NZ as the | | | | access to bio-prospecting facilities, pure raw materials |
| country mainly depended on commercial exports of | | | | and NZ unique flora are some of the distinct |
| bio tech products. NZ has a unparalleled environment | | | | advantages offered by NZ to foreign investors |
| which is supported by rich natural resources. This has | | | | looking to invest in biotechnology projects. |
| invariably supplied the building blocks of world-class | | | | |