Biotechnology sector soaring Investments in NZ

Published: Sat May 15 2010

A pioneering inventiveness and scientific expertise has been at the core of NZís prowess in the biotechnology industry. New Zealand is competitive in the global market as a prime biotechnology sector in the world. It has excelled in genomics, biopharmaceuticals, diagnostics, nutraceuticlas and marine natural health products. NZ has been the source of new technologies in this industry with quality research that has created new innovations in Agricultural biotechnology industry. Its leading biomedical research centers have been critical in this success. To invest NZ, the government created a welcoming and friendly environment together with support that encouraged investments in this sector. World renowned NZ research facilities have over time continued to produce innovations in bioscience and human health.

Biotechnology is NZ fastest growing sector of its economy. Biotechnologists and investors have equally preferred to invest NZ as a location for investments in this industry. The Pharmaceutical sector is currently being driven by new innovations in nutritional and therapeutic products. With an aging population, the demand for these products has gone up necessitating increased research and production. International investors have found a location for their investments in an industry that is rich in ideas. The biotechnology task force of NZ aims at building a critical mass, sustaining a competitive environment for growth and establishing a robust international network through which to attract international investments for NZ.

A thriving Biotech sector in NZ has been made possible by government support and commitment. The government supports investments in the sector with the aim of driving a knowledge based economy. Invest NZ stakeholders have added opportunities for growth and development with the governmentís establishment of the US$40 million venture investment fund. This fund is meant for the development of high technology and biotech sectors. New Zealandís investment environment in this industry, as with the others, has been very welcoming with its strong life sciences research base. As a result, most companies are attracted to New Zealand as a prime location for biotech investments.

Co-operation with other Biotech firms in countries like Australia has made investments in the biotech sector lucrative. The Australia-New Zealand Biotech Alliance amongst other joint ventures has seen huge sums of capital invested in the Biotech sector. The New Zealand Trade and Enterprise, a government body, has administered the allocation of funds meant for the development of the biotech sector. Venture capital has thus been on the increase in the country with the setting up of subsequent funds for investment in this sector.

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