NZ launches investment guide for tech sector

The New Zealand government has published a new investment guide into the nation's fast-growing technology sector.

The new guide has been produced by the Technology Investment Network (TIN) in collaboration with the Ministry of Business Innovation and Employment (MBIE), and was launched earlier this week by Economic Development Minister Simon Bridges and Science and Innovation Minister Paul Goldsmith.

Bridges said technology is New Zealand’s third-largest exporting sector, contributing NZ$16 billion ($14.8 billion) to GDP, and represents multiple opportunities to both local and international investors.

“New Zealand technology is gaining recognition internationally along with our innovative and can-do culture, and the fact that we are ranked first in the world for ease of doing business by the World Bank Group is a huge drawcard for investors,” he said.

“High-profile successes like Vend, Xero, Fisher and Paykel Healthcare and Vista Group are leading the way. But, a growing number of early stage companies like Soul Machines and 8i are attracting significant international attention for their cutting-edge technologies in artificial intelligence and virtual reality.”

He said enabling agile start-ups to grow and compete with established incumbents is one of the top priorities of the current government.

“The government is working hard to develop New Zealand as a hub for high-value, research and development intensive businesses,” Goldsmith added.

“The recent 29% increase in businesses investment in research and development reported by Statistics New Zealand is largely driven by technology businesses and shows that our efforts are delivering results.”

In order to facilitate this growth the government also has initiatives aimed at improving the technology skills base among young New Zealanders, including the TechHub in Schools and FutureInTech initiatives and the Digital Technology Skills Forum.

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