Gracefield Innovation Quarter set to get upgrade with Government's investment
The Government’s $75 million investment in the site will mean that New Zealand’s top scientists, engineers and researchers will have the modern facilities needed to help transform our economy to become more productive, sustainable and focused on growing R&D.Devdiscourse News Desk | Updated: 12-06-2019 09:00 IST | Created: 12-06-2019 07:06 IST
Gracefield Innovation Quarter is set to get an upgrade with the Government investing in redeveloping the Hutt Valley science commercialisation site, says Research, Science and Innovation Minister Megan Woods.
The Government's $75 million investment in the site will mean that New Zealand's top scientists, engineers and researchers will have the modern facilities needed to help transform our economy to become more productive, sustainable and focused on growing R&D.
"The Gracefield Innovation Quarter plays an important role in this, connecting and supporting the innovation community. Its redevelopment will ensure Callaghan Innovation continues to help businesses to grow their investment in research and development," says Megan Woods.
"Last year around 270 companies benefited from these services, with this investment we hope to see that number grow, bringing us closer to achieving our coalition goal of increasing New Zealand's R&D spend to 2% GDP by 2027."
Gracefield Innovation Quarter is home to over 200 world-leading scientists, researchers and technicians, along with tenant businesses. It features state-of-the-art specialist workshops, pilot plants, labs and equipment, and world-class measurement facilities. This investment means that three new buildings can be built, as well as an extension to one building and extensive refurbishments to other existing buildings.
"Investment in this significant Government asset will help us build a productive nation and transform the economy, by fostering growth in innovation and commercialising science and technology developments.
"Research and innovation provide the key to achieving our ambitions for a more productive, sustainable and resilient economy, environment and society. Callaghan Innovation's role is to advance innovation by supporting businesses to commercialise their investments in science, engineering, technology and design, and in undertaking valuable research and development. Gracefield Innovation Quarter is an important part of this," says Megan Woods.
(With Inputs from New Zealand Government Press Release)