Company gives NZ government R&D boost the thumbs up
Tait Radio Communications supports today's Budget announcement regarding the provision of a $234million boost for applied research and development.
This business investment announcement by the New Zealand Government is designed to help lift the country's long-term economic performance. Tait Radio Communications Finance Director David Wade says this funding boost is definitely the right approach for wealth creation in New Zealand.
"As a New Zealand-owned organisation, Tait is firmly committed to seeing growth and technology proceed hand-in-hand in this country," he says."Compared to other countries in the OECD, New Zealand has underinvested in applied research and development. But this commitment from the Government to invest in the area of business research and development is encouraging for the commercial sector and will benefit the whole of New Zealand."
David Wade says it's a step in the right direction having a government take a long-term approach in the area of research and development (R&D).
"Companies like ours plan their "pipeline" of innovations as much as seven years out, so this longer term continuity of funding will definitely be beneficial," he says. "When we think about how to take an idea from the drawing board through to delivery to a customer, we look at several criteria for success.
"First and foremost is customer value and differentiation from competitors. It's important to develop our capability and partner with Kiwi supplier and IT businesses to create spin-off benefits for everyone.
"The grants announced in the Budget today will go to companies with a strong track record of successful investment in research and development. Companies which have proven they can secure great returns for New Zealand will be targeted for this new investment initiative."
David Wade says Tait also supports the $20million project-based voucher scheme for smaller companies. He says it's important to have a diverse high-tech environment because the smaller R&D-oriented companies of today will become the larger ones of tomorrow.
He says this government funding will give companies which already have research and development experience and incentive to do even better. He says with extra funding available, Tait Radio Communications will now be able to invest even more heavily in research and development.
"We will be able to use these grant funds to take a look at more opportunities to innovate and thereby deliver more value to our customers. Tait Radio Communications is in growth and recruitment mode, so there's no shortage of ideas in how to do that!"