Kiwi technology sets sights on America’s Cup

The technology industry is growing rapidly - in third place just behind dairy and tourism for GDP - and there are products and services bearing Made in New Zealand being used all over the world. However, as technological innovation gets more advanced, so too does the competitive landscape.

 It’s not always the best idea that gets the golden ticket, it’s a combination of ideas, strategy, team, funding and the old cliché of who you know, or perhaps, who knows you?

New Zealand has both the blessing and curse of geographic isolation. Being tucked away from the distractions of large markets is an excellent breeding ground for innovation; however, exporting to the larger markets can be a daunting experience for many smaller Kiwi firms.

With that in mind, we at NZICT led a mission of 20 New Zealand companies to San Francisco, kicking off a year-long program to use the America’s Cup as a backdrop to showcase Kiwi technology in the USA.

We adopted a high-intensity group schedule, which made it easier for the new entrant and in-market companies participating on the mission to understand the realities of the business culture in the region and to spread their learnings with other Kiwi start-ups and growing SMEs. They achieved much more as a mission group than if they had tried to learn and discover the market as individual companies, flipping the cliché into what is gained on tour is enthusiastically shared with anyone who will listen.

The San Francisco region is renowned for its business, investor and education opportunities in technology, and the mission was a way to attract interest in New Zealand’s technology capabilities and give Kiwi companies exposure to export opportunities.

The group explored investment opportunities at Silicon Valley Bank, Shasta Ventures and Menlo Ventures - all potential sources of finance - and took part in educational visits and discussions with Palantir Technologies, Oracle and Amazon Web Services.

The mission was a tremendous success, putting building blocks in place that will have flow-on effects for the companies involved. The momentum generated from the trip is a first step for export-oriented growth initiatives by NZICT, and ultimately a boost for New Zealand’s economy as we evangelise the export message. We also generated interest from US companies keen on investing in New Zealand businesses and possibly setting up research and development facilities in Auckland.

Following on from the mission, we are putting together the next phase of the program to include a showcase linked to the America’s Cup 2013 to expose and familiarise high-growth software and technology companies with opportunities in San Francisco. More than 70 technology companies are interested in participating in hosting and entertaining activities around the regattas, and another trade mission to Silicon Valley is planned for August 2013.

Candace Kinser is the Chief Executive Officer of the NZICT Group, the national member association of information technology, communications and hi-tech companies of New Zealand. Kinser is intent on uniting the membership and supporting the growth of the hi-tech industry of New Zealand as innovators, exporters and users of technology for learning, business and entertainment. She is particularly passionate about getting young women interested in education and careers in technology, science and business from a young age. Kinser is an active Director of NZBIO, the national biotechnology association of New Zealand. She is also on the Advisory Board for the School of Business at Massey University, and regularly speaks to university students and emerging entrepreneurs about women in business, entrepreneurialism and using technology as a means for business growth.