AI Podcast: Callaghan Innovation Annual Report 2023/24

Speaker 1: Welcome to the Deep Dive. Today we're gonna be looking at something that really affects all of us here in New Zealand, innovation. And more specifically, we'll be diving deep into the Callaghan Innovation Annual Report for 2023-24.

Speaker 2: Sounds good.

Speaker 1: Now stick around to the end and we'll be wrapping up with our top five takeaways about what's happening in the world of Kiwi ingenuity.

Speaker 2: Great.

Speaker 1: Callaghan Innovation, for those who might not know, is a crown entity with a pretty big mission helping businesses innovate and grow, which ultimately helps boost our entire economy.

Speaker 2: Yeah, it's amazing to see how much they do supporting all different sizes of businesses from brand new startups to ones that are already rocking the research and development scene.

Speaker 1: Yeah, and they provide so many different tools and things to help them, funding, training programs, networking opportunities, you name it.

Speaker 1: So let's start with the big picture. How's New Zealand actually doing? In terms of innovation. The report highlights our R&D expenditure. That's how much we're investing in research and development.

Speaker 2: And the good news is it's increasing.

Speaker 1: Oh, that's great.

Speaker 2: We've hit 1.47% of GDP in 2023. So that suggests we're moving in the right direction and becoming more innovative as a nation.

Speaker 1: That's great to hear. But I'm guessing there's a but coming.

Speaker 2: Well, yeah, there's always a but, isn't there? So we're still a little bit behind the OECD average. So to really compete on that global stage and become a true innovation powerhouse, we do need to keep pushing those numbers higher.

Speaker 1: Makes sense. So who's actually driving this growth in R&D spending?

Speaker 2: It looks like businesses are leading the charge. Their R&D expenditure has jumped up significantly, even surpassing pre-pandemic levels. So clearly, Kiwi businesses are seeing the value of investing in innovation.

Speaker 1: That's really encouraging. But here's a question that popped into my mind. If businesses are seeing the value., why aren't more of them getting involved in R&D?

Speaker 2: That is a great question. And it's something that the report does touch on. While the amount of investment from businesses already engaged in R&D is going up, the actual number of businesses participating has kind of stalled since 2020.

Speaker 1: Oh, really?

Speaker 2: It's like we have a bunch of keen runners in the race, but not enough people signing up.

Speaker 1: So what's holding them back? What's the missing piece of the puzzle?

Speaker 2: That's the million dollar question. I think it's probably a mix of things. Maybe some businesses are hesitant because they think R&D is too risky or too expensive. Or perhaps they just don't know where to start.

Speaker 1: Yeah. That's where Callaghan Innovation steps in, right?

Speaker 2: Exactly. They're all about making innovation more accessible and less daunting for businesses, regardless of their size or experience. They offer a whole toolbox of support to help businesses navigate that R&D landscape.

Speaker 1: Can you give us some examples of what kind of support are we talking about?

Speaker 2: Think of it like a buffet of innovation boosters, they've got funding options like grants and the R&D tax incentive which can help offset some of the costs, and then they also offer these upskilling programs to help businesses kind of build their innovation capabilities.

Speaker 1: So it's not just about throwing money at the problem, it's about giving businesses the knowledge and the skills they need to actually succeed.

Speaker 2: Absolutely, and they don't just leave businesses to figure things out on their own. They provide connections to invaluable networks, mentors, and experts who can offer guidance and support every step of the way.

Speaker 1: It sounds like they're trying to create a whole ecosystem of support for Kiwi innovators.

Speaker 2: Exactly, and speaking of ecosystems, Callaghan Innovation is also focused on making sure that they're operating sustainably.

Speaker 1: What do you mean by that?

Speaker 2: Well, they're working towards financial sustainability. So that means they're aiming to generate more revenue from their own commercial activities. It's not just about relying on government funding, it's about building a really robust business model that can support their mission in the long term.

Speaker 1: That makes a lot of sense. It's about making sure they can continue to empower Kiwi businesses to innovate for years to come.

Speaker 2: Exactly, and it's not just about being financially sustainable. They're also walking the walk when it comes to environmental sustainability. They're part of the carbon neutral government program, and they've actually achieved a 35% reduction in their carbon emissions since 2019-20.

Speaker 1: That's amazing. And they even have the Toitū carbon reduced certification, which recognizes their commitment to measuring, managing, and minimizing their environmental impact. So they're really putting their money where their mouth is when it comes to sustainability.

Speaker 1: Absolutely. They're setting a great example for other organizations in New Zealand. Okay, so we've talked about the state of innovation in New Zealand and how Callaghan Innovation is working to boost it. But what about the actual impact? Are they really making a difference for Kiwi businesses?

Speaker 2: That's what we'll explore next. We'll delve into some real world examples of how Callaghan Innovation is helping businesses succeed.

Speaker 1: Sounds good. I'm eager to see what kind of success stories are hidden within this report.

Speaker 2: Yeah, me too. Let's dive into those success stories. Okay. The report is packed with examples of Kiwi businesses that are thriving with Callaghan Innovation support.

Speaker 1: I bet. Do any specific examples come to mind?

Speaker 2: Yeah, one that really stood out to me is the technology incubator program. It's celebrating its 10th anniversary this year and the achievements are pretty mind blowing.

Speaker 1: 10 years is a pretty big milestone. What have they achieved in that time?

Speaker 2: Well, they've supported 84 deep tech startups. These are businesses developing cutting edge technologies with huge potential to shake things up. And get this, 38% of those startups were led by women.

Speaker 1: That's incredible. It shows that we have some seriously talented female entrepreneurs in New Zealand.

Speaker 2: Absolutely. And the impact goes beyond just the number of startups. These companies have attracted over $300 million in follow-on capital from private investors, created over 600 high-skilled jobs, and generated $26 million in revenue.

Speaker 1: That's a phenomenal return on investment.

Speaker 2: It really is.

Speaker 1: Yeah, that's a testament to the power of supporting innovative startups. Do you have any specific examples of companies that have benefited from the program?

Speaker 2: Definitely. One company that caught my eye is ENEX, a Dunedin-based company specializing in underground infrastructure solutions. They were looking to validate a new product idea and figure out how to take it to that global market.

Speaker 1: Sounds like a classic startup challenge. How did Callaghan Innovation help them?

Speaker 2: Well, they provided ENEX with expert advice and resources, including access to the new to R&D grant and their innovative ID to impact program. So with the support, ENX was able to successfully validate their product idea and create a roadmap for international growth.

Speaker 1: That's fantastic. It shows how Callaghan Innovation can provide that tailored support to help businesses overcome specific hurdles.

Unknown speaker: Exactly. It's not a one-size-fits-all approach. They recognize that each business has unique needs and tailor their support accordingly.

Speaker 1: Speaking of tailored support, let's shift gears a little bit and talk about Callaghan Innovation's focus on empowering Māori innovators. The report acknowledges the significant contribution of Māori businesses to New Zealand's economy.

Speaker 2: Yeah. And it's not just about acknowledging their contribution. It's about actively supporting their growth and innovation. Māori businesses are growing faster, innovating more, and investing more in R&D.

Speaker 1: Wow. That's impressive. What specific initiatives are Callaghan Innovation undertaking to support Māori businesses?

Speaker 2: Well, they're providing strategic guidance, helping them navigate the complexities of intellectual property and connecting them with investors.

Speaker 1: So really all of the support that they need?

Speaker 2: Yeah, exactly. One inspiring story highlighted in the report is Envico Technologies, a Māori-led company specialising in ecosystem restoration and pest control. They actually won the prestigious 2024 Hi-Tech Awards, Māori Company of the Year.

Speaker 1: Wow, that's a huge achievement. It speaks volumes about their innovative work. What role did Callaghan Innovation play in their success?

Speaker 2: They provided Envico with crucial support, particularly in defining their company's strategy and navigating the world of intellectual property. And this helped them secure investor funding and ultimately achieve those ambitious goals.

Speaker 1: It's fantastic to see Callaghan Innovation championing diversity and inclusion in the innovation ecosystem.

Speaker 2: Absolutely. It's about recognising the potential of all Kiwi businesses regardless of their background or ownership structure.

Speaker 1: Now, let's talk about the ventures that are really pushing the boundaries of innovation — Frontier Ventures. Those sound interesting. What exactly are they?

Speaker 2: Think of them as the trailblazers of the New Zealand economy. Highly innovative R&D intensive businesses with the potential to supercharge our growth and take Kiwi ingenuity global. So they're the ones kind of pushing the envelope and developing groundbreaking technologies. They're working on things like cutting-edge biotech, renewable energy solutions, and advanced manufacturing techniques. The kind of stuff that can really make a difference in the world.

Speaker 1: Sounds impressive. But I imagine these ventures need a lot of support to navigate the complexities of bringing those innovations to life.

Speaker 2: You're absolutely right. And Callaghan Innovation recognizes that they need to provide wraparound services to these ventures including dedicated customer navigators who act as guides on their innovation journey. So it's like having a personalized Sherpa for the world of R&D. Someone who can help them navigate the terrain, avoid pitfalls, and reach their summit. And the report highlights just how crucial this support is. Frontier Ventures make up about 24% of the businesses working with Callaghan Innovation. But they use a much wider range of products and services than other companies.

Speaker 1: That makes sense.Their needs are more complex so they require more specialized support.

Speaker 2: Precisely. And the report points out that Frontier Ventures are heavily concentrated in key sectors like cleantech, agritech, health tech, and digital. This is exciting because it indicates potential growth areas for the New Zealand economy.

Speaker 1: It's like a glimpse into the future. What are some of the specific initiatives Callaghan Innovation is undertaking to support these high potential sectors?

Speaker 2: They're involved in a range of initiatives tailored to each sector. For instance, in cleantech, they spearhead the clean tech mission, a cross-agency partnership that supports clean technology innovation and helps businesses scale their operations and reach international markets.

Speaker 1: So it's about helping them make a global impact with their sustainable solutions.

Speaker 2: Exactly. In the construction sector, they're focusing on boosting productivity by supporting innovation in areas like advanced automation, building decarbonization, waste minimization, and the adoption of digital tools.

Speaker 1: It's about making the industry more efficient, sustainable and future-proof.

Speaker 2: Precisely. And in agritech, they've been running the agritech Activator Program, which provides sector-specific support to foster innovation in the agricultural sector. So they're helping Kiwi farmers leverage technology to boost productivity and sustainability.

Speaker 1: It's amazing to see how Callaghan Innovation is supporting innovation, across so many different sectors. But it's not just about supporting businesses, is it?

Speaker 2: No, it's not.

Speaker 1: They're also committed to their own people and culture.

Speaker 2: Absolutely. They prioritize employee well-being and professional development. And have a strong focus on diversity. Equity, inclusion and belonging or DEIB.

Speaker 1: That's fantastic. What are some of the specific initiatives they've implemented to create a more inclusive workplace?

Speaker 2: Well, they've developed resources to support neurodivergent employees, created DEIB guidelines focused on bias, awareness and accessibility and implemented a recruitment process that prioritizes diversity.

Speaker 1: So they're really walking the walk when it comes to creating a welcoming and supportive environment for everyone.

Speaker 2: Exactly. And they've also taken steps to ensure equitable remuneration and have robust health and safety programs, training and support networks in place.

Speaker 1: It sounds like they're putting their people first, which is essential for any organization that wants to foster a culture of innovation.

Speaker 2: You're absolutely right. Now, before we wrap things up, remember those five key takeaways we promised you at the start.

Speaker 1: Oh, yeah. I almost forgot. We've covered so much ground in this deep dive. It's time to distill all this information into some bite-sized nuggets of wisdom.

Speaker 2: Let's get to it. These takeaways are the things we want you to remember from our exploration of the Callaghan Innovation Annual Report for 2023-24.

Speaker 1: I'm all ears. What's takeaway number one?

Speaker 2: Takeaway number one, New Zealand's R&D expenditure is on the rise. We've hit 1.47% of GDP in 2023, which is a positive sign. However, we still have some catching up to do to reach that OECD average. So there's room for improvement.

Speaker 1: So we're moving in the right direction, but we need to keep pushing. to become a true innovation leader.

Speaker 2: Takeaway number two, Callaghan Innovation is playing a crucial role in supporting businesses to innovate and grow. They offer a diverse range of support from funding and upskilling to connections and expert problem solving solutions.

Speaker 1: And we've seen some pretty impressive results from the support. We have. Increased revenue, boosted exports and higher revenue per worker.

Speaker 2: Absolutely. Takeaway number three, the technology incubator program has been a remarkable success. Fostering a wave of deep tech startups, attracting significant investment and creating hundreds of high skilled jobs.

Speaker 1: It's a testament to the power of supporting innovative startups and shows the potential for New Zealand to become a global hub for deep tech innovation.

Speaker 2: Takeaway number four, Callaghan Innovation is committed to empowering Māori innovators, recognizing their vital role in driving economic growth and creating a brighter future for New Zealand.

Speaker 1: They're providing targeted support and resources to help Māori businesses thrive and reach their full potential.

Speaker 2: And finally, takeaway number five, Callaghan Innovation is a values-driven organization that prioritizes employee well-being, diversity and inclusion, and environmental sustainability. They're not just talking the talk, they're walking the walk.

Speaker 1: They've implemented a range of initiatives to create a positive and supportive workplace and are actively reducing their carbon footprint.

Speaker 2: So there you have it, our five key takeaways from this deep dive into the Callaghan Innovation Annual Report for 2023-24. We've covered a lot of ground, but hopefully you've gained some valuable insights into the state of innovation in New Zealand and the vital role that Callaghan Innovation is playing. It's been an eye-opening journey.

Speaker 1: Now, before we sign off, we want to leave you with one final thought-provoking question to ponder. We've seen how supporting innovation can lead to some pretty incredible outcomes, from groundbreaking deep tech startups to thriving Māori-led businesses.

Speaker 2: It really paints a picture of the potential that's bubbling away here in New Zealand.

Speaker 1: Exactly. But we want to hear from you.

Speaker 2: What innovative ideas or technologies do you think hold the greatest potential for New Zealand's future?

Speaker 1: We've talked about the growth in R&D expenditure, the positive impact on businesses, and the dedication to sustainability. But the future of innovation really rests on those who dare to dream big and then actually make those dreams a reality.

Speaker 2: So we encourage you to jump onto our social media and share your thoughts. What areas of innovation excite you? What challenges do you think we need to tackle to unlock even greater potential?

Speaker 1: We're all on this journey together, and your insights are super valuable. We'd love to hear what sparks your imagination and what you- envision for the future of New Zealand innovation.

Speaker 2: And if you're keen to learn more about Callaghan Innovation and the fantastic work they do, head over to their website callaghaninnovation.govt.nz. You'll find heaps of resources, case studies, and information about how to get involved.

Speaker 1: That brings us to the end of this deep dive into the Callaghan Innovation Annual Report for 2023-24. We hope you've enjoyed exploring the world of Kiwi innovation with us.

Speaker 2: Remember, innovation is a journey, not a destination. Let's keep exploring, keep questioning, and keep pushing the boundaries of what's possible.

Speaker 1: Until next time, keep diving deep.

Speaker 1: All right, let's jump right in.

Speaker 2: Sounds good to me.

Speaker 1: Today we're taking a deep dive into Callaghan Innovation's annual report for 2023-24. Get ready for some really fascinating insights into the world of Kiwi innovation.

Speaker 2: It's packed with some incredible stories too.

Speaker 1: Definitely. We'll uncover companies like Envico Technologies using drones for ecological restoration and winning awards along the way.

Speaker 2: Yeah, and we'll break down a program that's turned 44 million in government funding into a staggering 381 million in private investment.

Speaker 1: Exactly, and we can't forget about those rock stars of the innovation world, the frontier ventures.

Speaker 2: That's right, the report really gives you a snapshot of the entire innovation landscape in New Zealand.

Speaker 1: I think what's so interesting is it's not just about what Callaghan Innovation is doing.

Speaker 2: Yeah, it paints a vivid picture of a nation that's bursting with creativity and entrepreneurial spirit.

Speaker 1: Striving to make its mark on the global stage.

Speaker 2: And that's where Callaghan Innovation comes in —Helping to transform those brilliant ideas into real-world impact.

Speaker 1: Right from the start, the report highlights this kind of tension.

Speaker 2: Yeah, New Zealand's investment in research and development is growing.

Speaker 1: Which is fantastic news.

Speaker 2: But we're still behind the OECD average.

Speaker 1: It really underscores the need for continued support and investment and innovation.

Speaker 2: It's like we're in this race and we're gaining momentum but

Speaker 1: still need that extra boost to reach the front of the pack.

Speaker 2: The encouraging part is that businesses are stepping up. Business R&D expenditure is a driving force,demonstrating resilience even when facing economic headwinds.

Speaker 2: This is where Callaghan Innovation's role becomes even more critical. They're bridging that gap between groundbreaking research and commercial success.

Speaker 1: Giving businesses the tools and support to really thrive.

Speaker 2: So, let's talk strategy.

Speaker 1: Callaghan Innovation has some ambitious goals.

Speaker 2: They're laser focused on some key areas.

Speaker 1: Their first priority is to help more businesses to innovate and increase their R&D investment.

Speaker 2: They want to see Kiwi companies pushing the boundaries and investing in the future.

Speaker 1: It's all about turning the scientific and technological breakthroughs into marketable solutions.

Speaker 2: No more brilliant ideas gathering dust on a shelf.

Speaker 1: And they're passionate about supporting Māori entrepreneurs and innovators. Recognising the incredible talent and potential within that community. And then there's this focus on frontier ventures and high-potential sectors.

Speaker 2: We'll definitely delve deeper into that later.

Speaker 1: But first, let's break down how Callaghan Innovation is funded to achieve these ambitious goals.

Speaker 2: Well, they received a total of $214.7 million in funding for 2023-24.

Speaker 1: What's really important here is the strategic shift they've made. The board actually directed a reset this year. They're aiming to make the organization more financially sustainable. And generate more commercial revenue from their R&D expertise.

Speaker 2: They're finding innovative ways to generate income while still delivering exceptional value to taxpayers. It's this balancing act between running a business and serving the public good.

Speaker 1: It's like they're finding that sweet spot where they can achieve both goals simultaneously.

Speaker 2: This strategic shift really sets the stage for how they'll be supporting those high-impact customers.

Speaker 1: The Frontier Ventures and Māori Innovators.

Speaker 2: It's not just about throwing money at a problem.

Speaker 1: It's about guidance, connections, and the resources needed for long-term success.

Speaker 2: Fostering sustainable growth and empowering these businesses to reach their full potential.

Speaker 1: And that's where the Frontier Ventures come into play.

Speaker 2: They're the daredevils of the innovation world, pushing boundaries, investing heavily in R&D, and with their sights set on global domination.

Speaker 1: Sounds like they're on a mission. So what kind of companies are we talking about here?

Speaker 2: Well, the report dives into the sectors where these Frontier Ventures are making waves and Cleantech and Agritech are real standouts.

Speaker 1: Makes sense considering New Zealand's history.

Speaker 2: Yeah, our strong reputation for sustainability in primary industries.

Speaker 1: It's like ingenuity meets nature. It's in our DNA. Do you have a favorite company that embodies this Frontier Ventures spirit?

Speaker 2: One that caught my eye is Envico Technologies. They're using drones for ecological restoration. And they're not just doing good. They're winning awards too. They snagged the Māori Company of the Year Award at the 2024 High Tech Awards.

Speaker 1: That's incredible. Talk about impact. So how did Callaghan Innovation help Envico take flight?

Speaker 2: Oh, it sounds like they played a crucial role in helping them refine their strategy and turn their big vision into a concrete action plan. They guided them through workshops, helped them analyze their costs and market, and basically gave them the tools to pitch themselves effectively to investors.

Speaker 1: It's like having that innovation coach in your corner. Making sure you don't trip over any hurdles. And again, this is what I love about Callaghan Innovations' approach. It's not just about funding. It's about empowerment. It's about giving businesses the knowledge and support they need.

Speaker 2: And speaking of empowerment, let's talk about Callaghan Innovations' focus on Māori innovators.

Speaker 1: This is another area where I think the report really shines, the incredible growth and potential within Maori businesses.

Speaker 2: The report emphasizes that Māori businesses are growing faster, innovating more, and investing more in R&D than other New Zealand businesses. They're a force to be reckoned with.

Speaker 1: It's inspiring to see this commitment to fostering diversity and inclusion.

Speaker 2: It's not just about doing what's right. It's also about unlocking economic potential. Maori businesses have so much to offer, and Callaghan Innovation is helping them unleash that power.

Speaker 1: Okay, let's get down to brass tacks. How do we know Callaghan Innovation is actually making a difference?

Speaker 1: Well, the report's full of data and real world examples that highlight the positive impact. For starters, customer satisfaction is through the roof. They're consistently getting high net promoter scores. Which means their customers are raving fans and likely to recommend their services.

Speaker 1: Word of mouth is the best marketing.

Speaker 2: Absolutely.

Speaker 1: So what are some of the key financial outcomes?

Speaker 2: Well, the numbers speak for themselves. The report highlights year on year increases in revenue, exports and revenue per worker for companies that have partnered with Callaghan Innovation.

Speaker 1: That's what we want to see. These metrics are like rocket fuel for the economy. Boosting job creation and productivity. It's a win-win-win situation. Businesses grow, the economy thrives. And New Zealanders benefit from the innovation happening right here on our shores.

Speaker 2: And to make sure they're capturing the full picture of their impact, Callaghan Innovation has developed a comprehensive impact reporting framework.

Speaker 1: So it's not just measuring outputs, it's measuring outcomes. What does this framework tell us?

Speaker 2: It's all about quantifying the value Callaghan Innovation is creating. For its customers, the innovation ecosystem and the New Zealand economy as a whole. Think of it like a detailed report card that shows how they're making a tangible difference.

Speaker 1: I love that they're holding themselves accountable.

Speaker 2: And demonstrating the value they're delivering. Okay, now let's zoom in on some specific programs from the report. There's so many great initiatives. But a standout has to be the technology incubator program.

Speaker 1: Celebrating a major milestone this year. 10 years of nurturing deep tech startups.

Speaker 2: That's definitely something to celebrate.

Speaker 1: What makes this program so special is that it acts like a boot camp for these companies.Giving them the intensive support needed to turn cutting edge science into commercial success.

Speaker 2: And the results speak for themselves.

Speaker 1: Over 300 million in private investment attracted. And an 8.6x return on public investment — talk about bang for your buck. The report mentions some truly inspiring ventures like Mint Innovation tackling electronic waste recycling in a revolutionary way and Foundry Lab which is developing next-generation 3d printing technology.

Speaker 2: It's proof that New Zealand can be a breeding ground for world-changing innovations

Speaker 1: Yeah, another program that deserves a shout-out is the clean tech mission—saving the planet and boosting the economy , now that's a mission I can get behind.

Speaker 2: It's all about supporting the growth of New Zealand's cleantech sector and it's a collaborative effort Callaghan innovation is teaming up with organizations like Auckland unlimited, NZGCP and the SFTI National Science Challenge

Speaker 1: they're bringing together the best and brightest

Speaker 2: To tackle one of the most pressing challenges of our time

Speaker 1: and the report highlights some encouraging statistics about the cleantech sector's growth.

Speaker 2: Yeah investment revenue and job creation potential

Speaker 1: It's clear that clean technologies are not just good for the environment..They're good for business, too. Creating a more sustainable and prosperous future for New Zealand.

Speaker 2: Speaking of the future, we can't forget about Industry 4.0.The next wave of technological disruption.

Speaker 1: I've heard this term, but I'm not entirely sure I understand what it means.

Speaker 1: It's the convergence of the physical and digital worlds. Transforming industries as we know them.

Speaker 1: Give me an example.

Speaker 2: Imagine a factory where machines can communicate with each other and make decisions in real-time. Optimising production and efficiency.

Speaker 1: That's mind-blowing. It is pretty amazing. It's like something out of a sci-fi movie.

Speaker 2: It's happening right now. Callaghan Innovation has a dedicated program to help businesses navigate this.

Speaker 1: So they're making sure New Zealand businesses aren't left behind. But beyond the technology itself, I'm curious about the people behind Callaghan Innovation, the driving force behind all of this.

Speaker 2: The report provides some fascinating insights into their internal culture and values.

Speaker 1: What struck me was their genuine commitment to employee well-being, diversity and sustainability.

Speaker 2: They're definitely walking the talk. It's impressive, right? They've got a whole section on good employer practices.

Speaker 1: Oh, that's great.

Speaker 2: Where they outline their approach to creating a supportive and inclusive work environment. They've got policies and initiatives in place to support employee health and safety, mental well-being. They even address things like domestic violence awareness and support for neurodivergent employees.

Speaker 1: Wow. I had no idea. That's really going above and beyond to create a workplace where everyone feels valued.

Speaker 2: Absolutely. And they're also champions for diversity and inclusion. They've developed guidelines and resources to promote bias awareness, transparency, and accessibility.

Speaker 1: Those are all so important.

Speaker 2: They're actively working to improve diversity and recruitment too. And ensuring equitable decision-making.

Speaker 1: It's refreshing to see an organization putting these values into practice.

Speaker 2: It really is. And what impressed me was their commitment to employee development. They offer a range of learning opportunities. They've got a leading through change guide, an online learning library, workshops for teens and leaders.

Speaker 1: They're really investing in their people.

Speaker 2: Yeah, it's an investment in the future of innovation. We can't overlook their dedication to sustainability either. It's a hot topic. And it's great to see them leading by example.

Speaker 1: So what are they doing specifically?

Speaker 2: Well, they're part of the carbon neutral government program. And they've already made significant strides in reducing their emissions. They've achieved Toitū carbon reduced certification too.

Speaker 1: So they're really serious about reducing their environmental impact. They're measuring their carbon footprint and taking concrete steps to shrink it. It's a win for the planet and their reputation.

Speaker 2: And lastly, the report gives us a rundown of their governance structure and leadership team. They've got a diverse and experienced board of directors, as well as an executive leadership team that's focused on operational excellence and strategic direction.

Speaker 1: It sounds like they have the right people at the helm to keep driving innovation forward.

Speaker 2: Absolutely. So as we wrap up, any final thoughts?

Speaker 1: Well, for me, this deep dive has been a powerful reminder that innovation is crucial for a thriving economy. And Callaghan Innovation is playing a vital role in supporting that.

Speaker 2: Yeah, it's been really inspiring to see their work.

Speaker 1: Definitely, from funding and expertise to fostering a positive work environment and embracing sustainability.

Speaker 2: They're setting a high bar for other organizations.

Speaker 1: Now, here's a question for our listeners. What does Callaghan Innovation's work suggest about the future of innovation in New Zealand? How can you get involved and contribute to this ecosystem?

Speaker 2: We encourage you to check out the full report on their website. It's packed with even more inspiring stories and insights. You might be surprised by the opportunities to be a part of shaping a more innovative New Zealand.

Speaker 1: That's a wrap on our deep dive into Callaghan Innovation's annual report for 2023-24. Thanks for joining us. We hope you found it as insightful and inspiring as we did. Until next time. Keep those innovative sparks flying.