Plugging the gap: An internationalisation strategy
Overview
Efforts to increase New Zealand’s prosperity include renewed focus on innovation, especially increasing inventiveness. However, there is a valuable opportunity to increase the success of businesses trying to convert research results or business ideas into internationalisation success.Previous papers argued that shortages of capital and talent are limiting growth of innovative businesses and that growing exports of high value differentiated goods and services should be the economic strategy priority. This paper proposes 14 policy directions to improve the success of businesses trying to establish themselves in international markets.
The policy proposals are designed to:
- Increase the availability of expansion capital;
- Improve the quality and quantity of talent available for internationalising businesses;
- Provide businesses with more and better information about how to grow successfully and establish themselves in international markets; and
- Make it easier to establish valuable domestic and international connections.
The proposals are intended to address specific constraints that are limiting business success and therefore limiting growth in prosperity. Ensuring the whole ecosystem is performing as well as possible will give businesses the best chance of success and accelerate the growth of high value exports. Competing countries are actively pursuing policies to advance innovation and promote priority sectors. New Zealand should do the same.
> Executive summary (472kb PDF)
> Full report (1257kb PDF)
