Business By Waikato businessman Andy West

In its short, nine-year existence ‘The Park', as it is colloquially known, has become something of a national icon and certainly something for the citizens of Waikato to be proud of.

It was established through the vision and leadership of a small coiterie of scientists and business people in 1992, through the backing of Hamilton City Council, the WEL Trust and central government, each chipping in $2 million. For that sum, this region created a spectacular core facilities building on the Tainui-owned Ruakura campus adjacent to AgResearch for the purpose of encouraging agritechnology firms – those that make gear and software for farming and food processing.

The original building was a design landmark in encouraging innovation through interaction by way of shared space. Of course, an innovation park isn't a building. It is the sum of the environment of 50 entrepreneurial companies operating in the facility. Something here works because although the rent isn't cheap, The Park is full to the gunwhales with tenants.

I am fortunate to have been a member of the Board of Directors for seven years and assist its mercurial and dynamic chief executive Derek Fairweather develop the vision of its founders.

One of the most important keys to its success has been the consistent backing provided by the Hamilton City Council; the council has continued to support The Park through thick and thin, most recently with a further $2.4 million capital injection that was central to erection of the second building. The council's faith in The Park and the wider Ruakura precinct has been augmented by that of central covernment through successive Cabinet Ministers, NZ Trade and Enterprise and the Ministry of Economic Development, all of whom have been highly supportive, along with the Katolyst Trust that holds the majority of shares as a cornerstone and solid owner. The Park simply could not have existed without local and central government action.

In the last five years, we have doubled the size of The Park – a single building doesn't make a park, but two do, sort of. There is now a third under construction, the dairy industry good 500kg/hour spray drier. But it is not all about real estate and tenants. Innovation Waikato is also about helping innovative agritechnology firms in The Park and the wider region prosper.

To do that it has helped business people create a venture investment fund, Greenfields. It allocates central government funding for technology development. It showcases new agritechnologies from local firms on dairy, sheep and beef farms. It stimulates collaboration between education and research, particularly in dairy farming and it is too leading a consortium of agritechnology firms overseas to establish turn-key, New Zealand-style, dairy and beef farms in (we hope) numerous countries.

This sort of support is intangible – you can't drive past it or work in it – yet it is important. The Park is part of the broader, world-class agritechnolgy cluster in The Waikato.