Wool Research signs US firm to earn unique identity for wool

19 Jan '11

2 min read

David Douglas, Chairman of the Wool Research Organisation of New Zealand Inc (WRInc), has expressed hope that, a team of innovators from United States would be able to do a lot of experiments with wool in the same manner as they did for Samsung, a producer of flat-screen LCD television.

Samsung consulted the New York Innovation company, Fahrenheit 212, seeking assistance to help it stand distinctively from the other five global producers of LCD.

Fahrenheit 212 portrays itself on its website, as an innovation firm concentrating on delivering considerable top-line growth by means of generation and commercialization of real new products, businesses, services and brands.

WRInc has signed Fahrenheit 212 for generation of various wool products from the New Zealand wool. The deal requires that, the products developed by Fahrenheit 212 should become commercially viable within a period of two years, failing which no payment would be made to the firm.

The pact is not going to be just another plan for the wool industry, but a hard core deal. Fahrenheit 212 will not get any payment if the commitment is not fulfilled.

Fahrenheit 212 personnel's have thoroughly studied all the facets of the New Zealand wool industry, and were very sure that they would be able to develop new products and commercialize the same within stipulated time, Douglas said.

The firm, through Wool Research, can gain access to the wool research consortium funding as an element of the product development process.

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