MIL OSI – Source: New Zealand Ministry of Business Innovation and Employment MBIE – Press Release/Statement
Headline: New Research Institute for Bay of Plenty
Plantech: the New Zealand Institute for Technology and Innovation in Premium Plant-based Value Chains, based in Tauranga, has become the fourth successful proposal to receive funding through MBIE’s initiative to establish new Regional Research Institutes.
The new institute aims to leverage the Bay of Plenty’s strengths in horticulture to accelerate and commercialise research and innovation for the benefit of the region.
The Government will provide funding of $8.42 million over five years for the new institute, alongside additional funding from industry. The institute will operate as a private, independently governed organisation.
Plantech will initially focus on research to enable digital automation of devices for growers with the aim of becoming a leader in supporting customised, precise and automated production systems that are accessible for businesses at a range of scales.
The institute’s research will increase effective development, adoption and adaptation of new technologies which will improve the productivity and sustainability of the horticulture sector. This has the potential to result in significant economic benefits for the region by creating jobs as well as new products and services.
Plantech brings together a mix of eight technology companies, exporters and multi-nationals, as well as the University of Waikato and Priority One, the economic development agency which led the application. Based on a membership model, Plantech projects it will grow from the eight original members to 20 members by 2027.
Research Institutes were announced in Budget 2015. In Budget 2016, the Government set aside $40 million of additional funds to support this initiative, bringing the total funding available to $65 million.
The Regional Research Institute initiative seeks to maximise the unique business, technology and economic growth opportunities in our regions by establishing research centres that help build research and development intensity and lift innovation in key regional industries.
Read more information on the Regional Research Institutes initiative.