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Guide 11:
Growing innovation and new business opportunities

How to grow innovation and new business opportunities through your procurement.

What this economic benefit means

This benefit focuses on:

  • encouraging innovation
  • developing intellectual property
  • creating opportunities for new or expanded markets, including exports.

Wider impacts of growing innovation and new business opportunities

When procurement supports innovation and new business opportunities:

  • new solutions and approaches emerge
  • productivity and market competitiveness improve
  • New Zealand’s export capability can be strengthened
  • supplier credentials have more weight.

Planning for growing innovation and new business opportunities

This guidance applies if growing innovation and new business opportunities have been identified as a benefit at the planning stage. When planning, consider:

  • Are there opportunities for innovation within this contract?
  • Can intellectual property be developed or commercialised?
  • Are there domestic or international market opportunities?
  • Does this align with future needs or growth areas?

The general guidance on planning for economic benefits applies alongside these specific considerations.

Plan to include economic benefits in the procurement

Example RFx questions for growing innovation and new business opportunities

Use and adapt these examples in your tender documentation to confirm whether respondents can successfully deliver this benefit.

  • Explain how innovative practices or new technologies will be encouraged or delivered.
  • Describe opportunities for developing or commercialising Intellectual Property (IP).
  • Outline any export or market expansion opportunities.

Remember to keep requested information proportional and clear. The general guidance on approaching the market for economic benefits still applies.

Approach the market with economic benefits in mind

Indicators to measure growing innovation and new business opportunities

You could use or adapt the following indicators to measure the success of this benefit. If they don’t directly fit your organisation’s context, adapt them as needed.  Keep performance measurement proportional to the procurement.

  • Number of innovations or IP assets generated
  • Adoption of innovations beyond the contract
  • Revenue or opportunities linked to new markets (for example, exports).

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