Kiwi businesses are set to access emerging technologies and market intelligence thanks to the partnership with the Canadian Food Innovation Network (CFIN). Photo / Alan Gibson
Kiwi businesses are set to access emerging technologies and market intelligence thanks to the partnership with the Canadian Food Innovation Network (CFIN). Photo / Alan Gibson
A new Government-backed export initiative with Canada is set to accelerate the commercialisation rate of New Zealand’s food innovations to meet global demand.
A memorandum of understanding was signed between the New Zealand Food Innovation Network (NZFIN) and its North American counterpart the Canadian Food Innovation Network (CFIN) to promotethe global exchange of food manufacturing knowledge.
The move will provide Kiwi businesses access to emerging technologies, market intelligence, and research and development support to reach Canada’s 40 million consumers.
NZFIN co-chief executive Grant Verry said there are numerous challenges faced by entrepreneurs wanting to commercialise the outputs of research.
“The expansion of our network into Canada and our Asia-Pacific network partnership is designed to provide Kiwi businesses with new technologies as well as much larger pools of capital, expertise and value-added food manufacturing options to enable growth,” Verry said.
“By extending support for New Zealand food innovation beyond territorial and regulatory boundaries, we are unlocking market access through a unified system.”
Grant Verry, co-chief executive of NZFIN believes the partnership will help propel research into commercialised exports.
According to data provided by NZFIN, New Zealand spends more than half a billion dollars each year on agri-food research and relies on the development of innovations to create new value-added products for export markets.
A separate new initiative launched by NZFIN will purposefully link research output and commercialisation from several key stakeholders, including a Crown-funded open-access applied science and commercialisation organisation, nationwide facilities and international partners.
“The new Catalyst model is designed to create an international ecosystem - integrating food innovation facilities in Auckland, Waikato, Otago, Palmerston North and Canterbury as well as university’s applied innovation facilities in Australia, Singapore and Indonesia,” the group said.
“The establishment of the international programme follows a call from the Government to double the value of New Zealand food exports by 2030. Latest forecasts show the country’s food and fibre exports will reach $56.9 billion by mid-2025.”
By networking the facilities, businesses will be able to access expertise from a global network of food scientists, food process engineers, and millions of dollars worth of specialised technologies, research and manufacturing equipment.
“This innovation ecosystem, replicated across the Asia-Pacific region and beyond, ensures businesses can seamlessly scale and compete globally with the same level of support and expertise they can receive through our domestic programme,” Verry added.
NZFIN was established in 2011 to enable Kiwi food and beverage businesses to develop and commercialise innovative value-added products.
Tom Raynel is a multimedia business journalist for the Herald, covering small business and retail.
