Maori Industry Strategy set to go

IRL General Manager Industry Engagement and Deputy CEO Drew Stein says IRL’s wide-ranging R&D capability is well placed to serve many key industries in which Maori commercial interests are active.
 
“Because IRL works across so many sectors, from agriculture and forestry to high-tech manufacturing, natural product development, future energy solutions and pharmaceutical development, we believe that we have much to offer Maori business interests across the board.”

The strategy will build on existing relationships including one with Fomana Capital, which was formalised under an accord in 2008 when the two parties agreed to jointly develop high-value nutraceutical and cosmeceutical products for global markets.

IRL’s Integrated Bioactive Technologies team is currently working with Maori organisations on five R&D projects which are mainly in the natural products area.

The implementation phase of the strategy will begin its rollout later this year after a market segmentation study which will be conducted to establish precisely where IRL should focus its resources.

A key plank of the strategy will be the establishment of a Maori fellowship, whereby scientists or engineers will be funded to undertake an agreed research programme for Maori enterprises in conjunction with IRL.

IRL account manager Maori Engagement Tom Rogers says he is excited about the opportunities that lie ahead.

“Partnerships with IRL will create new opportunities to grow and develop the asset bases of Maori organisations, increase revenues and improve shareholder wealth. These benefits will, in time, flow on to iwi and hapu across the country.”