Overhaul innovation incentives, government told

Productivity Commission says New Zealand must select priority areas and boost academia-industry links

New Zealand needs to support and incentivise “frontier firms” instead of relying on raw growth to develop its economy, a report from the national Productivity Commission has said.

The report—New Zealand Firms: Reaching for the Frontier—says the country can no longer rely on expansion and “damaging” industries. Instead, it needs a group of large, advanced companies to underpin research and innovation.