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NZ to boost investment and productivity in technology sector

New Zealand’s Ministry of Business, Innovation and Employment (MBIE) has partnered with an organisation that serves as an independent source of information on New Zealand’s technology sector.

This partnership has brought about the 2019 investor’s guide to the New Zealand technology sector, which aims to attract investment and drive productivity in the sector.

According to a recent press release, the technology sector is New Zealand’s third largest export sector, which grew by more than NZ$ 1 billion last year.

Investment in the tech sector is also growing, with international corporations and investors interested in the work that Kiwi firms are undertaking.

Why invest in New Zealand?

New Zealand has an international reputation as a highly innovative country, with ambitious firms that are finding solutions to some of the world’s biggest challenges.

This guide, which was developed by the organisation, will showcase the country’s thriving digital sector and will help attract more investment from potential international corporations and investors.

It highlighted some compelling reasons to invest in New Zealand tech companies. These reasons are:

  1. They are uniquely positioned and globally connected
  2. They are high growth technology companies with world-leading ambitions
  3. They have a strong technology ecosystem
  4. They have an innovative “can-do” culture

The country is an attractive place for international investment, with successful Kiwi tech companies becoming world-leading in their fields.

Supportive Government

Additionally, the Government encourages and supports international firms to undertake their research and development activities in New Zealand.

The R&D tax credit, which came into legislation earlier this year, will allow companies to access a 15% tax credit, of up to NZ$ 18 million per year, on their R&D spending in New Zealand.

World-leading companies

Some qualities of Kiwis, like their can-do attitude and ambition, have resulted in world-leading companies.

The guide showed examples of companies that have contributed to four of New Zealand’s highest growth sectors. These sectors are FinTech, AgriTech, Digital Media and Healthcare.

From the invention of the electric fence, to artificial intelligence technology, Kiwi companies are leading the way.

Having generated NZ$ 11.1 billion in revenue in the past year, it is no wonder that there are record levels of angel investment in the country’s technology sector.

This may have also encouraged more international firms to do business in the country.

Globally connected

Investors should look into New Zealand because the country has free trade agreements, whether already in place or still proposed, with most major global economies.

Furthermore, the country has a global network of government support offices and available ultra-fast broadband fibre connections, which extend throughout the country and internationally.

Other initiatives

OpenGov Asia recently reported on New Zealand funding R&D internships for businesses.

With these R&D Experience Grants, companies have the opportunity to boost their research and development capacity, and gain access to fresh talent and ideas.

OpenGov Asia also reported on how New Zealand will improve incubator programmes for start-ups.

The Technology Incubator and Founder Incubator programmes will have improvements that will be beneficial for the start-ups.

As for faster internet connection, OpenGov Asia reported on More New Zealanders connected to ultra-fast broadband internet.

When the UFB infrastructure is fully deployed by the end of 2022, people in more than 390 towns and cities will be able to connect to the country’s fibre network.

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