The first private sector companies have signed up to the new Fast Forward initiative in New Zealand, the NZ$700m (US$531m) joint industry-government venture that aims to lift the capability, environmental performance and global competitiveness of New Zealand's pastoral and food industries.
The six investor groups include kiwifruit grower-marketer Zespri, as well as Dairy NZ, Meat and Wool NZ, Meat Industry Associations, PGG Wrightsons and Fonterra.
Agriculture Minister John Anderton said that is was positive to see the private sector respond so well to the initiative. 'This is the single largest boost to innovation in New Zealand history. The government has made its contribution, and I'm delighted to see the private sector moving to match it – it just shows that this initiative has real value,' he said in a statement.
Zespri director Dave Pilkington said that the group strongly supported the Fast Forward initiative, which, he said, aligned with Zespri's strategy of investing in neccessary research and development to grow the industry.
'As the kiwifruit industry's single desk marketer, Zespri already has the critical mass needed to fund significant levels of industry-good innovation investment – we see New Zealand Fast Forward as an opportunity to advance this investment more rapidly,' he added.
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