Economic » Entrepreneurial & Innovative

Innovation, creativity and new endeavours are welcomed and encouraged. Ideas are exchanged across all sectors, resulting in a creative business culture. We have excellent education and research institutions, and benefit from being the seat of government.

What is Entrepreneurial & Innovative?

Entrepreneurship and innovation, including research and development are important for economic growth and for sustaining a dynamic economy capable of competing successfully on the international stage. A diverse business environment is better able to absorb cyclical downturns and changing market trends. If there is business confidence people are more inclined to venture into entrepreneurial activities as they see the economy able to support new ideas. 

Entrepreneurial and innovative community is made up of 4 indicators that were selected to measure progress towards the entrepreneurial and innovative community outcome definition (shown above). Please see below for the raw data available over the 2001 to 2013 study period for each of the entrepreneurial and innovative community indicators.

As with the economic well-being GPI, the available indicator data that forms part of entrepreneurial and innovative community outcome area was used to calculate individual index values for each indicator for each year over the 2001 to 2013 study period. The graph below shows the average of these individual index values, and represents the entrepreneurial and innovative community GPI for the Wellington region from 2001-2013.

 

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Entrepreneurial and innovative community GPI, 2001-2013

What this means

Between 2001 and 2013, the entrepreneurial and innovative community outcome has been on a clear upward trend, increasing by 19.5%.

 

Following a notable drop at 2002 (the lowest point of the series) the index exhibits a strong rise up to 2004, which is followed by a relatively minor dip across 2005 and 2006. The index then returns to growth, albeit less rapid, leading to another dip between 2009 and 2010. The upward trajectory returned with strong growth between 2010 and 2012, before flattening off in 2013.

 

Did you know?

A GPI is an attempt to measure whether a nation’s or a region's growth, increased production of goods, and expanding services have actually resulted in the improvement of the well-being of the people in the region.

4 Indicators are being used to track Entrepreneurial & Innovative in the Wellington region

Click on each indicator below to access further information

Investment in research & development » Overview

Research and development (R&D) is important for economic growth and for sustaining a dynamic economy capable of competing successfully on the international stage. R&D generates new knowledge which in turn leads to innovation and positive change that can also improve well-being.

Percentage of GDP spent on research and development, 2001-2013

Findings

  • In 2013, 2.93% of GDP in the Wellington region was spent on R&D.
  • The percentage of GDP spent on R&D in the Wellington region increased by 19.4% between 2001 and 2013

Investment in research & development » Technical Information

Indicator Definition

Gross expenditure on research and development in the Wellington region expressed as a percentage of the Wellington region GDP.

Data Source

BERL

Last updated September 2014

The methodology used to determine the percentage of GDP spent on R&D in the Wellington region is derived from the Statistics NZ Research & Development survey (and has been modified since the 2011 WR-GPI was published). Spend proportions of relevant sectors are allocated uniformly across the time series. Comparison between the Wellington region and NZ is not appropriate as the assumptions made for the Wellington region are context specific and differ to those applied at a national level. 

While care has been taken in processing, analysing and extracting information, we cannot guarantee that the information is free from error and we shall not be liable for any loss suffered through the use, directly or indirectly, of any information, product or service.