Brian Masheti

New Zealand Ecosystem Mapping Report Executive Summary The startup ecosystem in New Zealand is thriving, with a favourable business environment and government support contributing to its growth. The heart of the ecosystem is the startups, with several industries ranking highly worldwide. Incubators and accelerators provide resources and support to early-stage startups, while venture capitalists and angel investors provide funding. Government agencies such as Callaghan Innovation and New Zealand Trade and Enterprise offer funding and programs to help startups grow and scale. Universities and research institutions provide a pipeline of talent and research, while industry associations provide networking and professional development opportunities. Co-working spaces provide affordable office space and networking opportunities for startups. Overall, the startup ecosystem in New Zealand is vibrant and offers many opportunities for entrepreneurs to succeed. The New Zealand startup ecosystem serves a diverse range of customers, including small and medium-sized businesses, enterprises, government, consumers, education, healthcare, and agriculture. A list of potential customers for The Refinery is provided, including fast-growing startups in various industries. The ecosystem relies on a range of suppliers to support its growth, including technology providers, marketing and advertising agencies, financial services providers, co-working spaces and incubators, logistics and supply chain providers, and professional services providers. Strong partnerships and collaborations between startups and suppliers drive innovation and entrepreneurship in the ecosystem. New Zealand's startup ecosystem has a favourable regulatory environment, high quality of life, and supportive communities. The government has taken several steps to support the ecosystem, including establishing a Startup Advisors Council, a start-up investment fund, and tax incentives for research and development. Universities and research institutions also play a crucial role in supporting the ecosystem through research and development, incubation and acceleration programs, and intellectual property management. In New Zealand, the University of Auckland provides a vibrant innovation and entrepreneurship hub, the Centre for Innovation and Entrepreneurship (CIE), that offers experiential programs, events, and workshops, as well as a Master of Commercialization and Entrepreneurship qualification. Additionally, UniServices, a wholly-owned company of the University of Auckland, manages the University's IP, which can be licensed to startups for product and service development. i Table of Contents Executive Summary ............................................................................................................................. i INTRODUCTION ...............................................................................................................................1 STAKEHOLDERS ..............................................................................................................................2 Startups.............................................................................................................................................2 ProTag ..........................................................................................................................................3 Partly ............................................................................................................................................4 Daisy Lab .....................................................................................................................................4 Sales Science ................................................................................................................................5 Latch .............................................................................................................................................6 Frankie/Tell Frankie .....................................................................................................................6 Trade Window ..............................................................................................................................7 Mooven .......................................................................................................................................10 Toku Eyes ...................................................................................................................................10 Incubators and accelerators ............................................................................................................11 Venture capitalists and angel investors ..........................................................................................13 Government agencies .....................................................................................................................15 Universities and research institutions ............................................................................................16 Customers.......................................................................................................................................18 Small and medium-sized businesses (SMBs) .............................................................................18 Enterprises ..................................................................................................................................20 Government ................................................................................................................................20 Consumers ..................................................................................................................................21 Education ....................................................................................................................................23 Healthcare ...................................................................................................................................25 Agriculture..................................................................................................................................25 Suppliers.........................................................................................................................................25 ii Technology providers .................................................................................................................25 Marketing and advertising agencies ...........................................................................................26 Logistics and supply chain providers .........................................................................................26 Professional services providers ..................................................................................................27 Competitors ....................................................................................................................................27 Regulators ......................................................................................................................................29 Relationship between Stakeholders ...............................................................................................30 Contact Information and profiles of key leaders in the organizations. ..........................................31 Potential employees .......................................................................................................................35 Competitive analysis of Online Strategies .........................................................................................36 Datacom .........................................................................................................................................36 Deloitte New Zealand ....................................................................................................................36 IBM New Zealand ..........................................................................................................................37 KPMG New Zealand ......................................................................................................................38 ecosystem cultivation and human capital RETENTION ...................................................................38 Roles of Stakeholders ........................................................................................................................40 Entrepreneurs .................................................................................................................................40 Investors .........................................................................................................................................41 Mentors and Advisors ....................................................................................................................42 Incubators and Accelerators ...........................................................................................................43 Government ....................................................................................................................................44 Universities and Research Institutions ...........................................................................................45 Service providers............................................................................................................................47 Customers.......................................................................................................................................48 Competitors ....................................................................................................................................49 Regulators ......................................................................................................................................51 Power Dynamics and Influence of Stakeholders ...............................................................................52 iii Entrepreneurs .................................................................................................................................52 Power dynamics: ........................................................................................................................52 Influence: ....................................................................................................................................52 Investors .........................................................................................................................................53 Power dynamics: ........................................................................................................................53 Influence: ....................................................................................................................................53 Mentors and Advisors ....................................................................................................................54 Power dynamics: ........................................................................................................................54 Influence: ....................................................................................................................................54 Incubators and Accelerators ...........................................................................................................54 Power dynamics: ........................................................................................................................54 Influence: ....................................................................................................................................55 Government ....................................................................................................................................55 Influence: ....................................................................................................................................56 Power dynamics: ........................................................................................................................56 Influence: ....................................................................................................................................56 Service Providers ...........................................................................................................................57 Power dynamics: ........................................................................................................................57 Influence: ....................................................................................................................................57 Customers.......................................................................................................................................58 Power dynamics: ........................................................................................................................58 Influence: ....................................................................................................................................58 Competitors ....................................................................................................................................59 Power dynamics: ........................................................................................................................59 Influence: ....................................................................................................................................59 Regulators ......................................................................................................................................59 Power dynamics: ........................................................................................................................59 iv Influence: ....................................................................................................................................60 Value Creation ...................................................................................................................................60 Inputs:.............................................................................................................................................60 Processes ........................................................................................................................................61 Outputs ...........................................................................................................................................62 Value Proposition ..............................................................................................................................62 Entrepreneurs .................................................................................................................................62 Investors .........................................................................................................................................63 Mentors and Advisors ....................................................................................................................64 Incubators and Accelerators ...........................................................................................................65 Government ....................................................................................................................................66 Universities and Research Institutions ...........................................................................................67 Service Providers ...........................................................................................................................69 Customers.......................................................................................................................................70 Competitors ....................................................................................................................................71 Regulators ......................................................................................................................................72 Mentoring and Consulting .................................................................................................................73 Business Mentors New Zealand .....................................................................................................73 Talk to Eve .....................................................................................................................................74 New Zealand Coaching and Mentoring Centre..............................................................................74 Mather Consulting..........................................................................................................................75 Wipro .............................................................................................................................................75 New Developments in the Startup Sector of New Zealand ...............................................................76 SWOT Analysis .................................................................................................................................76 Ecosystem Markets ............................................................................................................................79 Distribution networks .....................................................................................................................79 Retail networks ..............................................................................................................................79 v Marketing networks .......................................................................................................................80 Existing Policies ................................................................................................................................81 Federal policies affecting the industry ...........................................................................................81 Policy Review for the Ecosystem ..................................................................................................83 Dynamics in The New Zealand ecosystem ........................................................................................85 Profiles ...........................................................................................................................................85 Mahitahi......................................................................................................................................85 Soda ............................................................................................................................................86 Northland Inc ..............................................................................................................................86 Development West Coast ...........................................................................................................87 key drivers and challenges .................................................................................................................88 Key drivers .....................................................................................................................................88 Government Support ..................................................................................................................89 Strong Talent Pool ......................................................................................................................89 Challenges ......................................................................................................................................91 Limited Funding .........................................................................................................................91 Brain Drain .................................................................................................................................91 Limited Market Size ...................................................................................................................92 Geographic Isolation ..................................................................................................................92 Technological Advancements ........................................................................................................92 Regulatory Changes .......................................................................................................................93 Market Shifts ..................................................................................................................................93 Impact Assessment .........................................................................................................................93 Technological Advancements .....................................................................................................94 Regulatory Changes ...................................................................................................................94 Market Shifts...............................................................................................................................95 Promotional Platforms .......................................................................................................................96 vi PledgeMe .......................................................................................................................................96 Kickstarter ......................................................................................................................................97 Givealittle .......................................................................................................................................97 Ecosystem evolution ..........................................................................................................................98 Profiles .........................................................................................................................................102 Futurity Bio-Ventures...............................................................................................................102 Mint Innovations ......................................................................................................................102 CH4 Global...............................................................................................................................103 Ligar .........................................................................................................................................103 Biotelliga ..................................................................................................................................103 Financial Sources .............................................................................................................................104 Research and Development .............................................................................................................108 Public Research Centers...............................................................................................................108 Private Research Centers .............................................................................................................110 Existing Patent Registration Services ..............................................................................................112 Process of Registering Innovations ..............................................................................................112 Access to exclusive rights granted for inventions ........................................................................113 Diversity, Equality, and Inclusion ...................................................................................................114 Impact of DEI on the New Zealand Ecosystem ...........................................................................115 Level of DEI.................................................................................................................................115 Conclusion .......................................................................................................................................122 Recommendations ........................................................................................................................122 vii INTRODUCTION The startup ecosystem in New Zealand has been rapidly expanding over the past decade, with a supportive government, thriving innovation culture, and increasing access to funding driving growth. Source: Inventica This report aims to provide an in-depth analysis of the startup ecosystem, focusing on its strengths, weaknesses, and opportunities for future growth. We will explore the key players in the ecosystem, including startups, investors, incubators and accelerators, and government agencies, and examine the latest trends and developments across various sectors. Our research draws on a variety of sources, industry reports and data. We will examine the factors that have contributed to the growth of the startup ecosystem, including the government's supportive policy environment, the country's skilled and diverse workforce, and its people's innovative and 1 entrepreneurial mindset. Additionally, we will identify the challenges and barriers that startups face, such as access to talent and funding, and explore potential solutions to these issues. Our report aims to provide insights and recommendations for how the country can continue to build on its strengths and overcome its challenges to become a leading hub for innovation and entrepreneurship in the Asia-Pacific region. We believe that by fostering a culture of collaboration and supporting startups in key areas such as deep tech and sustainability, New Zealand can unlock its full potential and create a thriving and inclusive startup ecosystem that benefits all its citizens. STAKEHOLDERS The startup ecosystem in New Zealand has been growing rapidly in recent years, fueled by government support, a favourable business environment, and a strong culture of entrepreneurship. Here is an overview of the key components of the startup ecosystem in New Zealand: Startups Startups are the heart of the ecosystem and are at the forefront of innovation and entrepreneurship. New Zealand’s startup scene is best represented in Foodtech (ranked 17th worldwide), Transportation (ranked 19th worldwide), in Software and Data (ranked 25th worldwide). New Zealand is ranked within the top 40 startup ecosystems globally. The top cities for startups in New Zealand are stated below, ranked from the best: • Auckland. • Christchurch • Wellington • Dunedin • Tauranga • Hamilton • Palmerston North • Nelson The following is a list of Startups in New Zealand. 2 ProTag ProTag is a smart ear tag monitor that continuously tracks your herd, delivers real-time data on each animal's metrics, behaviour and welfare, and is easily integrated into your existing systems. It is a smaller, lighter, more energy-efficient ear tag reusable between animals. This helps you keep track of your herd and make for happier, healthier and more productive cows. One always has access to the data on any device, which can be integrated into an existing system to streamline every aspect of your farm and business. Protag was founded in 2019 after the government’s announcement that New Zealand had set a goal of reaching net zero emissions by 2050. The co-founders are Baden Parr and Tyrel Glass. Baden Parr is pursuing a PhD with the Department of Mechanical and Electrical Engineering at Massey University. His research focuses on automating grape yield estimation in vineyards using 3D camera technology. In addition to these studies, he is also involved in research on indoor localisation using visible light and smart flooring, acoustic imaging using active and passive arrays, dense urban IoT sensor networks for air quality monitoring, and robot design and locomotion strategies. Tyrel Glass is also a Massey University PhD student. His research looks at using the communications ability of LED lighting for indoor positioning. Tyrel has experience in electronic design, machine learning, and IoT development. He is a lecturer for data science and machine learning courses. As of Feb 3, 2022, ProTag raised NZ$1,000,000 / Seed from Callaghan Innovation, Fonterra, Sprout. The funding enabled the design of a commercial rendition of their tag to be manufactured at scale. New Zealand’s leading agrifood tech accelerator, Sprout, is an active investor and led the investment round. ProTag joined the accelerator programme in July 2021, and its CEO, Gil Meron, is now one of the directors on ProTag's board. Sprout also has worldwide contacts, which will assist ProTag in entering the UK market. Callaghan Innovation, a stand-alone crown entity, has also provided funding through its Technology Incubator programme. CEO/Founder: Tyrel Glass. Contact info: Email-Mobile - Website: https://www.protag.co.nz/ Location: Stanley Avenue, Te Aroha, 3320. 3 Partly Partly is a company focused on connecting the world's car parts, making it easier for buyers and sellers. It became New Zealand's fastest-growing start-up after raising NZ$37 million in funding. Funds were gained from leading venture capital funds such as Octopus Ventures and Blackbird Ventures. Partly is now valued at nearly NZ$180 million after registering as a business in 2020, powering over NZ$150 million in annual orders and over NZ$4 billion indirectly and on Dec 13, 2022, Partly raised NZ$21,000,000 / Series A from Akshay Kothari, Blackbird Ventures, Dylan Field, Hillfarrance, I2BF Global Ventures, Octopus Ventures, Peter Beck, Randy Reddig, Shasta Ventures, Square Peg Capital, and TEN13. Its founders include Mark Song, Levi Fawcett, Nathan Taylor., and Evan Jia. Evan Jia is the CoFounder and Head of engineering at Partly. He is a senior full-stack programmer with over 8 years of experience. Levi Fawcett is the Founder and CEO of Partly, ex-founder of Comet Industries, and ex-founder of AllGoods. He was an early Rocket Lab employee responsible for hardware simulation. Partly's list of clients includes multiple Fortune 500 companies that represent the leading global marketplaces of automakers and parts manufacturers. Supporting all corners of the auto parts industry has been able to experience high buyer confidence, with a return rate reduction of 80 per cent. CEO/Founder: Mark Song, Levi Fawcett, Nathan Taylor., and Evan Jia. Contact info: Email-Mobile -. Website: https://www.partly.com/ Location: Auckland, New Zealand Daisy Lab Daisy Lab is a food tech company whose mission is to pioneer precision fermentation technology for dairy protein production. Using precision fermentation, they produce identical dairy proteins without animal products. Irina Miller is a business consultant who turned into a tech start-up founder. She was deeply concerned with the impact our dairy industry has on the environment and animals and 4 thought there was a better way of creating dairy ingredients other than from cows. Having little initial technical knowledge but a lot of passion and drive, she founded Daisy Lab in early 2021 alongside molecular biologist Dr Nikki Freed and an aspiring scientist Emily McIsaac. In February 2022, Daisy Lab announced a NZ$250,000 capital injection from Stephen Tindall's K1W1 and Icehouse Ventures. The funding was used to continue developing cow-free products, particularly cheese. Later in October of the same year, they announced a NZ$1.5 million seed round to scale up the company’s microbial whey protein production. And on March of 2023, they received a seed funding round from The Values Trust, Icehouse Ventures, Outset Ventures, Even Capital, and other investors, among whom are some experienced angel investors like Paul Davidson, Serge van Dam and Adam Clark. CEO/Founder: Irina Miller Contact info: Email-Website: https://www.daisylab.co.nz/ Location: Auckland, New Zealand Sales Science Sales Science is a sales agency founded by Matt Aird, in 2019 who is also the CEO. It offers services that are focused on assisting firms in understanding and optimizing their sales processes. Sales Science has generated a 400% return on interest and turned leads into customers amounting to $17.3 million, in the last six months. The company focuses on business-to-business customers and helps them create a data-driven approach to sales, that employs scientific methodologies and technology. The organization is able to assist businesses in determining how to enhance their sales processes and boost income by utilizing data analytics. This strategy is especially useful in today's hectic and cutthroat business climate, where organizations must be adaptable and flexible. The company uses content marketing, and email marketing to acquire customers. It has helped SaaS companies such as Automio, Scaflog, vWork, Hoodoo, and Projectworks to boost their revenues through improving their sale strategies. Sales Science boasts of a staff of nine seasoned sales experts, who have a thorough grasp of sales procedures, tactics, and technology, including a CEO who has ten years’ experience in sales. CEO/Founder: Matt Aird Contact info: Email-5 Mobile - Website: https://www.salesscience.co.nz/ Location: Auckland, New Zealand Latch Latch, also Accord Software, Inc. specializes in providing legal contracts to individuals and businesses. Its primary function is to help its clients draft, review, and negotiate contracts to ensure their needs are met. The founders of Latch are Min-Kyu Jung; who is the CEO, and Jacob Duligall serving as the chief technical officer. Since its inception in 2021, the company has raised US$1.4 million in the pre-seed capital stage invested by GD 1; a venture capitalist firm that invests in startups in New Zealand, Daniel Gross, Craft Ventures, Austen Allred, and Phase One Ventures. Having served in various roles in the legal business, the CEO has experience in drafting and negotiating legal contracts. This puts the company ahead of its competitors, since it can bank on this expertise. Moreover, the company utilizes technology to streamline the contract process and ensures legal compliance throughout. Founders: Min-Kyu Jung, Jacob Duligall Contact Info: Email-Mobile Website https://www.latchapp.com/ Location: https://goo.gl/maps/YfkM6VsL86HPJURz6 Frankie/Tell Frankie Frankie is a maintenance management software for property managers. It was founded in 2019 by Georgie Fenwicke, who has a history of serving in different roles with companies such as Deloitte, and Uber. The startup raised US$900,000 in the seed capital round with Icehouse Ventures as the lead investor. Property managers can easily oversee the maintenance of the property and track the expenditure of the repairs through the software. The company helps property managers to ensure that health and safety standards are met by all parties involved including contractors. Moreover, these property managers can utilize the record history feature to track how often certain repairs are made. Founder: Georgie Fenwicke 6 Contact Info: Email-Mobile - Website: https://www.tellfrankie.com/ LinkedIn: https://www.linkedin.com/company/tell-frankie/ Trade Window Trade Window Holdings Ltd, founded in 2018, is a public company specializing in developing and commercializing technology solutions that provide international trade participants with a secure platform and tools for establishing trust and trading globally efficiently across interconnected networks. Through its platform Cube, the company links the commercial, financial, logistics, and government data silos that comprise global supply chains. The company has a total funding of $NZD 6.3M, with its last funding round being $NZD 4.54M as of 17th December 2020. It has 96 employees; its stock symbol is TWL; it has 7 investments, and its share price as of Friday (21st April 2023) closing is $USD 0.23. The company is at series A stage. Since its inception, Trade Window has the following investors ASB Bank and tehana.co.nz. AJ Smith is the founding shareholder of Trade Windows and has been the company's current CEO since its inception in 2018. He can be contacted directly on his LinkedIn profile or by email. Their primary office is at Level 4, 33-45 Hurtsmere Road, Takapuna, Auckland, 0622, New Zealand. They also have offices in Australia, Singapore, Philippines, and USA. Contact Email:-Phone Number - ASB Bank On Saturday 5 June 1847, at 7pm, New Zealand's first savings bank, the Auckland Savings Bank, opened on Queen Street. ASB is committed to serving the community, growing and helping Kiwi grow. Since then, we have been committed to providing the people of New Zealand with the best banking products and services. Over the years, we've reimagined the way people bank and manage their money, and used those insights to create innovative solutions that meet the needs of our customers. ASB's goal has always been driven by a passion for progress. 7 They serve their purpose by providing kiwis with simple and meaningful ways to improve their financial well-being today and tomorrow. They achieve this by dedicating themselves to empowering more people with new and ahead-of-the-time opportunities. They believe it is important to serve their purpose not only for their clients, but also for their communities and the New Zealand economy as a whole. Value Their values of compassion, integrity, passion, courage and unity reflect what makes ASB great and how they work together. They guide their interactions with each other and with their customers and communities. What they stand for Supporting New Zealanders' economic progress means focusing on doing the right thing and being transparent about their progress and performance. Their environmental and social framework recognizes the interdependence of commercial, environmental and social concerns in the context of changing societal expectations. It provides employees and stakeholders with the minimum standards they aim to meet, the goals they aim to achieve, and the governance and oversight reference points in place to support their actions. Their people People are at the heart of what they do at ASB. From their values and unique culture to our commitment and support to the communities in which we live and work. They believe this is what sets them apart and just one of the reasons why over 1.3 million retail, corporate and rural customers choose their bank. Central Auckland Level 4, 12 Jellicoe Street, Auckland Central P.O. Box 35, Shortland Street, Auckland 1140 Phone: - Fax: - ASB Business Centre Level 4, 12 Jellicoe Street, Auckland Central 8 P.O. Box 35, Shortland Street, Auckland 1140 Phone:- Fax: - Northland 5 Rathbone Street P.O. Box 1886, Whangarei Phone: - Fax: - North Harbour 65A Constellation Drive, Rosedale, Auckland P.O. Box 35, Shortland Street, Auckland 1140 Phone:- Fax: - Since February 2018, Vittoria Shortt has been the CEO of ASB Bank and she can be contacted directly on her LinkedIn profile or Email. Te Hana Their mission statement is to share with the World their culture, history, and stories. Te Hana Community Development Charitable Trust works to address the serious social and economic concerns that affect not only the well-being of local whanau (family), but also the well-being of the wider population. Founded in 2002 by the iwi (members of the tribe). community. Thousands of hours of volunteering and fundraising have made Te Hana Te Ao Marama what it is today. Against all odds, the formerly disadvantaged community of Te Hana has been rebuilt and reinvented. Using precious knowledge from the past of Ngati Whatua ki Kaipara, the cultural, visual and performing arts were revived and shared with all. Te Hana Te Ao Marama is a living proof that dreams come true. Address: 317 State Highway 1, Te Hana, Auckland 0974, New Zealand. 9 Phone: -. Mooven This is a construction technology company platform that was founded in 2018 for smart mobility infrastructure management. Through their software platform, operational teams are provided with the rich operating context that is required to accelerate delivery, work smarter and reduce complaints. It is a Series A stage company with a total funding of $NZD 5. Their last funding round of $ NZD 5M, was on June 15, 2021. The company has two investors i.e., EVP, Five V Capital. Mooven's headquarters are located at 167 Victoria St West, Auckland, Auckland, 1010, New Zealand. Mooven's phone number is -. Micah Gabriels is the current CEO o Mooven and he ca be contacted directly on his LinkedIn profile or Email. Toku Eyes Founded in 2018, Toku Eyes is a New Zealand-based AI healthcare company that has launched a tool that assesses heart risk through retinal scan in the US. The tool, ORAiCLE, as the company claims, uses an AI platform to identify cardiovascular threats more accurately than existing risk calculators. It recognizes subtle changes in aspects like blood vessels and pigmentation to identify a person’s risk of a stroke or hart attack in the next five years. The company is the developer of ocular biometric systems and diagnostic devices for eye care. THEIA, an AI enabled diagnostic device for diabetic retinopathy has also been developed by this company. The company has its offices located in Symons Street, Auckland. Tuko eyes has a size of 2-10 employees. It is a series A company stage. The total funding of Tuko Eyes is $ NZD 10.8M. Their last funding round of $NZD 8M was in April 17, 2023. These are the investors for Tuko eyes, Icehouse Ventures, Artemis, KeraLink International. Registered Address GVW Accountants Limited, Level 1,109 Carlton Gore Road, Newmarket, Auckland 1123 NZ 10 HEAD OFFICE ADDRESS 88 Tapu Road, Huapai, Kumeu, 0810, NZ Number:- Incubators and accelerators Incubators and accelerators provide resources and support to early-stage startups to help them grow and scale. New Zealand has a number of incubators and accelerators, including Lightning Lab, Creative HQ, and Icehouse Ventures, which offer funding, mentorship, and access to networks to help startups succeed. Lightning Lab Lightning Lab is a technology-focused business accelerator that provides mentorship, funding, and networking opportunities to startups. The program runs for three months, during which time startups receive intensive mentoring and coaching, as well as access to funding and resources. Lightning Lab has helped launch over 60 startups since its inception in 2013, with a combined value of over $100 million. Creative HQ Creative HQ is an incubator based in Wellington that specializes in helping startups in the technology and creative industries. Their programs include mentorship, workshops, and access to funding opportunities. Creative HQ has been in operation for over 15 years and has helped launch over 200 startups. KiwiNet KiwiNet is a national network of universities and research institutes that helps researchers and entrepreneurs commercialize their innovations. They offer funding, mentorship, and access to networks to help startups turn their ideas into commercial products. KiwiNet has helped over 900 startups get off the ground since its inception. Icehouse Ventures 11 Icehouse Ventures is a venture capital firm based in Auckland that invests in high-growth startups. They provide funding, mentorship, and access to networks to help startups scale and grow their businesses. Icehouse Ventures has helped over 150 startups raise over $250 million in funding. WNT Ventures WNT Ventures is an early-stage technology-focused incubator that helps startups turn their ideas into viable businesses. They offer funding, mentorship, and access to networks, as well as support with product development and commercialization. WNT Ventures has helped launch over 20 startups since its inception. ZeroPoint Ventures ZeroPoint Ventures is a startup accelerator that focuses on helping founders build and scale successful businesses. They offer mentorship, funding, and resources to help startups grow and thrive. ZeroPoint Ventures has helped launch over 70 startups since its inception in 2015. Powerhouse Ventures Powerhouse Ventures is a venture capital firm that invests in startups with disruptive technologies in the agriculture, energy, and health sectors. They offer funding, mentorship, and support with commercialization and scaling. Powerhouse Ventures has helped launch over 30 startups since its inception in 2006. Flux Accelerator Flux Accelerator is a program that helps startups in the fintech and insurance sectors scale their businesses. They offer mentorship, funding, and access to networks to help startups grow and succeed. Flux Accelerator has helped launch over 15 startups since its inception in 2018. Sprout AgriTech Sprout AgriTech is a startup accelerator that focuses on supporting agricultural and food technology startups. They offer mentorship, funding, and resources to help startups develop and commercialize their products. Sprout AgriTech has helped launch over 30 startups since its inception in 2015. Venture Up 12 Venture Up is a startup accelerator that offers mentorship, workshops, and resources to help young entrepreneurs launch and grow their businesses. The program is open to participants aged 16-21 and runs for eight weeks over the summer. Venture Up has helped launch over 100 startups since its inception in 2015. Venture capitalists and angel investors Venture capitalists and angel investors provide funding to startups in exchange for equity. There are several venture capital firms and angel investors in New Zealand, such as Blackbird Ventures, Icehouse Ventures, and Sparkbox Ventures that invest in promising startups. Flying Kiwi Angels Founded in 2007, Flying Kiwi Angels is an angel investment network that invests in early-stage startups across a range of sectors. They provide mentorship and capital to help startups grow and scale their businesses. NZVIF The New Zealand Venture Investment Fund was established by the New Zealand government in 2002 to help foster the growth of the country's startup ecosystem. They invest in early-stage companies through a variety of funds and co-investment partnerships. K1W1 Founded by Stephen Tindall, the founder of The Warehouse, K1W1 is a venture capital firm that invests in early-stage companies across a range of sectors, including technology, software, and agriculture. Global from Day One Founded in 2012, Global from Day One is a startup accelerator that invests in and mentors earlystage companies across a range of sectors. They have a focus on companies with a global outlook and potential for international expansion. Icehouse Ventures Icehouse Ventures is a venture capital firm based in Auckland, New Zealand. It was founded in 2001 and invested in early-stage companies in New Zealand. The firm has invested in over 200 13 startups in various sectors, including software, biotech, and fintech. Some of its notable investments include Timely, Hapara, and Xero. Icehouse Ventures was founded by Andrew Hamilton, who serves as the firm's CEO. Sparkbox Ventures Sparkbox Ventures is a venture capital firm based in Wellington, New Zealand. It was founded in 2001 and invested in early-stage technology companies in New Zealand. The firm has invested in over 50 startups in various sectors, including software, biotech, and cleantech. Some of its notable investments include PowerbyProxi, EROAD, and Martin Aircraft Company. Sparkbox Ventures was founded by Greg Sitters, who serves as the firm's managing director. Movac Movac is a venture capital firm based in Wellington, New Zealand. It was founded in 1998 and invested in early-stage technology companies in New Zealand. The firm has invested in over 50 startups in various sectors, including software, biotech, and fintech. Some of its notable investments include PowerbyProxi, Telogis, and TradeMe. Movac was founded by Phil McCaw, who serves as the firm's managing partner. Punakaiki Fund Punakaiki Fund is a venture capital firm based in Wellington, New Zealand. It was founded in 2013 and invested in early-stage technology companies in New Zealand. The firm has invested in over 30 startups in various sectors, including software, fintech, and healthcare. Some of its notable investments include Mindscape, Vend, and Raygun. Punakaiki Fund was founded by Lance Wiggs and Chris Humphreys, who serve as the firm's managing partners. Pacific Channel Pacific Channel is a venture capital firm based in Auckland, New Zealand. It was founded in 2002 and invests in early-stage life sciences and cleantech companies in New Zealand. The firm has invested in over 20 startups in various sectors, including biotech, healthcare, and energy. Some of its notable investments include BioVittoria, Aroa Biosurgery, and Mint Innovation. Pacific Channel was founded by Brent Ogilvie, who serves as the firm's managing director. Blackbird Ventures 14 Blackbird Ventures is a venture capital firm based in Sydney, Australia, with an office in Wellington, New Zealand. It was founded in 2012 and invested in early-stage technology companies in Australia and New Zealand. The firm has invested in over 100 startups in various sectors, including software, fintech, and biotech. Some of its notable investments include Canva, SafetyCulture, and Culture Amp. Blackbird Ventures was founded by Niki Scevak and Rick Baker, who serve as the firm's managing partners. Government agencies The New Zealand government provides funding and support for startups through organizations such as Callaghan Innovation and New Zealand Trade and Enterprise. Callaghan Innovation is a government agency that supports innovation and helps businesses grow faster through technology. It provides businesses with access to research and development expertise, as well as funding and connections to other businesses, investors, and research institutions. Callaghan Innovation was established in 2013 and is named after Sir Paul Callaghan, a renowned New Zealand physicist and science communicator. New Zealand Trade and Enterprise (NZTE) is a government agency that helps New Zealand businesses grow internationally. It provides a range of services, including market intelligence, connections to potential customers and partners, and help with accessing funding and resources. NZTE was established in 2003 and is funded by the New Zealand government. Ministry of Business, Innovation and Employment (MBIE) is a government agency that supports businesses by promoting innovation and entrepreneurship. It provides a range of services, including access to funding, advice on business strategy, and support for research and development. MBIE was established in 2012 and is responsible for a wide range of policy areas, including economic development, science and innovation, and workplace relations. Venture Taranaki is a regional economic development agency that supports startups and entrepreneurs in the Taranaki region. It provides a range of services, including access to funding, mentoring, and networking opportunities. New Zealand Venture Investment Fund (NZVIF) is a government agency that invests in early-stage companies through its Seed Co-Investment Fund and Venture Investment Fund. It was established in 2002 and has invested in over 200 companies to date. 15 The R&D Tax Incentive (RDTI) is a government tax scheme to promote businesses in New Zealand to invest in R&D. The grant is a tax credit that companies can use to reduce their corporate tax bill at the end of the year. Self-Employment Startup Payment is another grant for new entrepreneurs starting their businesses. These agencies offer programs and funding to help startups grow and scale, as well as regulatory frameworks that promote innovation and entrepreneurship. Universities and research institutions Universities and research institutions in New Zealand play an important role in the startup ecosystem by providing a pipeline of talent and research that can help inform the development of new startups. Leading universities in New Zealand offering entrepreneurship programs include the University of Auckland, Victoria University of Wellington, and the University of Canterbury. The University of Auckland is one of the leading research institutions in New Zealand. It is home to several research centres and institutes, including the Centre for Innovation and Entrepreneurship, the Auckland Bioengineering Institute, and the Auckland Cancer Society Research Centre. The university also has an active startup ecosystem, with several incubators and accelerators on campus, including Unleash Space and Velocity. The University of Canterbury has a strong focus on entrepreneurship and innovation. Its Centre for Entrepreneurship offers a range of programs and initiatives to support startups, including mentorship, workshops, and access to funding. The university is also home to the Centre for Engineering Innovation, which supports startups in the engineering and technology sectors. Victoria University of Wellington is known for its research in areas such as cybersecurity, climate change, and sustainability. The university's commercialization office, Viclink, helps researchers and startups commercialize their innovations and bring them to market. The university also hosts the Lightning Lab, a startup accelerator program that provides mentoring, funding, and networking opportunities to early-stage startups. Dodd-Walls Centre is a collaborative research centre focused on advancing photonic and quantum technologies. The centre brings together researchers from several universities and research institutions in New Zealand, including the University of Auckland, the University of Otago, and the University of Canterbury. The centre's research has led to the creation of several startups in the photonics and quantum technology sectors. Industry associations: 16 Industry associations such as the New Zealand Tech Alliance, New Zealand software association and the Angel Association provide networking and professional development opportunities for startups and investors. These associations help build a community of entrepreneurs, investors, and other stakeholders in the ecosystem. The New Zealand Tech Alliance is an umbrella organization that represents more than 20 tech associations and over 800 tech companies in New Zealand. The alliance provides networking opportunities, advocacy, and support to its members, including startups and small businesses. The Angel Association New Zealand is a national organization that represents angel investors and promotes angel investment in New Zealand. The association provides education, networking opportunities, and advocacy to its members, as well as funding and support to startups. Canterbury Tech is an industry association that represents the tech sector in Canterbury, New Zealand. The association provides networking opportunities, education, and advocacy to its members, including startups and small businesses. Co-working spaces: Co-working spaces provide affordable office space and networking opportunities for startups. There are several co-working spaces in New Zealand, including BizDojo, Generator, and The Icehouse, which cater specifically to startups and provide a supportive environment for entrepreneurs. BizDojo is a coworking space with locations in Auckland, Wellington, and Christchurch. The space provides a collaborative and supportive environment for startups, freelancers, and small businesses, as well as access to events, mentorship, and networking opportunities. The generator is a coworking space with locations in Auckland and Wellington. The space provides startups and small businesses with access to flexible workspace, meeting rooms, and events, as well as support and mentorship from experienced entrepreneurs. GridAKL: GridAKL is a coworking space located in Auckland's Innovation Precinct. The space provides access to shared workspace, events, and mentorship for startups, as well as access to research expertise and facilities from nearby universities. Regus is a global coworking space provider with locations across New Zealand. The space provides flexible workspace, meeting rooms, and virtual offices for startups, freelancers, and small businesses, as well as access to a global network of coworking spaces. 17 The Greenhouse is a coworking space located in Christchurch. The space provides startups and small businesses with access to flexible workspace, meeting rooms, and events, as well as mentorship and support from experienced entrepreneurs. Customers The New Zealand startup ecosystem serves a wide range of customers, including: Small and medium-sized businesses (SMBs) New Zealand startups provide a variety of services and products to SMBs, such as software solutions, marketing tools, and e-commerce platforms. 18 Source: OECD SMEs, when defined as businesses with 0-49 employees, made up 99% of New Zealand businesses in 2020. This is consistent with historic levels. Total lending to businesses decreased to NZD 116.3 billion in 2020, down from NZD 120.5 billion in 2019. Lending to SMEs also decreased to NZD 70.8 billion from NZD 72.6 billion in 2019. SME lending decreased by a lesser proportion than 19 total lending, meaning the share of SME lending to total business loans increased by 0.7%, from 60.2% to 60.9%. Enterprises New Zealand startups also cater to large enterprises, providing them with services such as data analytics, cloud computing, and cybersecurity. In 2022, New Zealand had 592,700 enterprises, an increase of 5.0 percent from February 2021; this followed a 0.7 percent increase in the year to February 2021. YEAR ENTERPRISES EMPLOYEES 2010 475,479 1,908,100 2011 475,335 1,917,100 2012 474,576 1,934,400 2013 477,633 1,948,500 2014 495,675 2,003,200 2015 508,152 2,054,700 2016 517,911 2,106,300 2017 532,077 2,167,100 2018 537,756 2,239,600 2019 549,324 2,291,200 2020 560,193 2,333,700 2021 564,240 2,314,900 2022 592,704 2,392,500 Source: Statsnz Government The New Zealand government is a major customer of startups in the ecosystem, particularly in areas such as smart cities, sustainability, and digital transformation. Taska Prosthetics is a New Zealand-based startup that produces prosthetic hands. The New Zealand government has provided funding to Taska Prosthetics to develop and refine its products. In addition, the New Zealand Ministry of Health has purchased Taska Prosthetics products to distribute to patients. 20 StretchSense is a New Zealand-based startup that produces stretchable sensors for motion capture and wearable technology. The New Zealand government has used StretchSense's products in its own research projects and has also purchased StretchSense's products for use in the country's film industry. Fuel50 is a New Zealand-based startup that provides career development and talent management solutions. The New Zealand government has used Fuel50's software to help employees develop their careers and has also purchased Fuel50's products to offer to other organizations. Halter is a New Zealand-based startup that produces wearable technology for dairy farmers. The New Zealand government has provided funding to Halter to develop and refine its products and has also purchased Halter's products for use in the country's dairy industry. Consumers The Consumer Price Index, CPI in New Zealand, increased to 1203 points in the fourth quarter of 2022 from 1186 points in the third quarter of 2022 Source: tradingeconomics 21 New Zealand startups also serve individual consumers through various products and services, such as food delivery apps, online marketplaces, and social media platforms. Source: Dashmote Uber Eats is a food delivery service that operates in several cities in New Zealand, including Auckland, Wellington, and Christchurch. Customers can order food from local restaurants and have it delivered to their doorstep by an Uber Eats driver. Deliveroo is another food delivery service that operates in Auckland, Wellington, and Christchurch. Customers can order from a wide range of restaurants and have their food delivered by a Deliveroo driver. Menulog is an online food delivery platform that operates in several cities across New Zealand. Customers can order food from local restaurants and have it delivered to their doorstep. Eat Local NZ is a food delivery service that operates in Auckland and the surrounding areas. The company sources food from local suppliers and delivers it to customers' homes. Mobi2Go is an online ordering and delivery platform that enables restaurants to offer delivery services to their customers. The company operates in several cities across New Zealand, including Auckland, Wellington, and Christchurch. 22 Doordash is a technology company that connects people with selections of food, drinks and groceries, currently in Wellington. Source: dash more TheMarket is a relatively new online marketplace that launched in 2019. It offers a wide range of products, including fashion, beauty, and home goods. It also operates a fulfilment centre that allows sellers to store their products and have them shipped directly to customers. Education In 2020, education spent $227B on digital. While the forecast indicates this to grow to $404B by 2025, it is still barely 5% of overall expenditure and is considered by many as quite conservative. Startups in the education space provide online learning platforms, digital tools, and other resources to students, educators, and educational institutions. 23 Source: HolonIQ Educa is an e-portfolio platform that allows early childhood centres and schools to keep parents updated on their child’s activities. Teachers post images, videos, and narratives which can be seen in real-time by parents. Help engage parents and document learning from one simple platform. Features include notices, event updates, lesson planning, document sharing, direct messaging, teacher portfolio, and more. The app is available on Android and iOS. Melodics is a music-learning platform for drums, keyboards, pad controllers, and other musical instruments. It develops software for pad drumming that is available for Mac and Windows devices. It offers music education with tracks such as hip-hop, future beats, footwork, EDM, techno, trap, dubstep, downbeat, jungle, funk, soul, electronic, Bmore, electro, classic breaks, and others for playing. It also provides insights for the users of their favourite producers, DJs, and performers for their music tracks. The mobile app is available for Android and iOS devices. Generates revenue through subscriptions. Kami is a provider of PDF and document annotation apps. The app enables improved interactivity and collaboration within the classroom. Allows teachers to markup, discuss, and provide feedback to students in real-time. Enables students to annotate on ebooks, publisher-supplied PDFs, worksheets, and more. Offered on a monthly subscription plan. 24 Amy is an AI-based mathematics tutoring application for students. Features include intuitive analytics, multicurricular, multilingual, and others. Provides information to teachers regarding students' performance. Claims to provide real-time feedback for filling the knowledge gap. Healthcare Revenue in the Health Care segment is projected to reach US$97.06m in 2023. Revenue is expected to show an annual growth rate (CAGR-) of 4.44%, resulting in a projected market volume of US$115.50m by 2027. In the Health Care segment, the number of users is expected to amount to 1.16m users by 2027. User penetration will be 18.2% in 2023 and is expected to hit 21.5% by 2027. The average revenue per user (ARPU) is expected to amount to US$102.30. New Zealand startups in the healthcare industry provide various solutions and products to healthcare providers, such as telemedicine, electronic medical records, and medical devices. Agriculture Startups in the agriculture sector provide farmers and agricultural businesses with innovative solutions, such as precision agriculture, agritech, and sustainable farming practices. Suppliers The New Zealand startup ecosystem relies on a variety of suppliers to support its operations and growth. Some of the key suppliers in the ecosystem include: Technology providers Startups in New Zealand rely heavily on technology to create and deliver their products and services. As such, they often partner with technology providers to access the latest tools and platforms for software development, cloud computing, and cybersecurity. Xero is a cloud-based accounting software provider that was founded in New Zealand in 2006. It has since expanded to several other countries, including Australia, the United States, and the United Kingdom. Vend is a cloud-based point-of-sale software provider that is used by retailers around the world. It was founded in Auckland in 2010 and has since expanded to several other countries, including the United States, the United Kingdom, and Australia. 25 Seequent is a geoscience software provider that specializes in providing solutions for the mining and energy industries. It was founded in Christchurch in 2004 and has since expanded to several other countries, including Canada, Australia, and the United Kingdom. Orion Health is a healthcare software provider that offers a range of solutions for healthcare providers and patients. It was founded in Auckland in 1993 and has since expanded to several other countries, including the United States and the United Kingdom. Marketing and advertising agencies Startups need to effectively market their products and services to attract customers and drive growth. Marketing and advertising agencies provide valuable services such as branding, social media management, and digital advertising to help startups build their brand and reach their target audience. DDB is a global advertising agency that has been operating in New Zealand since the 1970s. It has offices in Auckland and Wellington and works with a range of local and international clients. FCB is another global advertising agency that has a presence in New Zealand. It works with a range of clients across various industries, including healthcare, finance, and technology. Clemenger BBDO is another global advertising agency that has a presence in New Zealand. It has worked with clients such as Mercedes-Benz, Vodafone, and the New Zealand Transport Agency. Ogilvy is a global advertising and marketing agency that has been operating in New Zealand since the 1980s. It has worked with a range of clients across various industries, including tourism, finance, and healthcare. Logistics and supply chain providers Startups that produce physical products need logistics and supply chain providers to help them manage inventory, shipping, and distribution. These providers offer services such as warehousing, transportation, and logistics management. Mainfreight is a New Zealand-based logistics provider that offers a range of services, including domestic and international freight forwarding, warehousing, and supply chain management. Toll Group is an Australian-based logistics provider that has a strong presence in New Zealand. It offers a range of services, including freight forwarding, warehousing, and transportation. 26 DHL is a global logistics provider that has operations in New Zealand. It offers a range of services, including international and domestic freight forwarding, warehousing, and supply chain management. Agility Logistics is a global logistics provider that has operations in New Zealand. It offers a range of services, including freight forwarding, warehousing, and supply chain management. Linfox is an Australian-based logistics provider that has operations in New Zealand. It offers a range of services, including transportation, warehousing, and supply chain management. Professional services providers Startups in New Zealand often require legal, accounting, and other professional services to navigate complex legal and regulatory requirements, manage finances, and support business operations. Competitors 1. Datacom: Datacom is an Australasia's homegrown tech company. They offer the following services. • Customer contact services and customer experience solutions at scale. • Cloud. • Customer experience. • Data analytics. • Data centers. • Digital process automation. • Hardware and licenses. • Managed services. • Network services. 2. Deloitte New Zealand: 27 • Audit and Assurance: Deloitte provides audit and assurance services to a range of clients, including publicly listed companies, privately held businesses, and not-forprofit organizations. • Consulting: Deloitte provides a range of consulting services, including strategy, operations, technology, human capital, and financial advisory services. • Tax: Deloitte provides a wide range of tax services, including tax compliance, tax consulting, tax planning, and international tax services. • Risk Advisory: Deloitte provides risk advisory services to help clients manage risks and improve their overall risk management practices. This includes cybersecurity, regulatory compliance, and internal audit services. • Financial Advisory: Deloitte provides financial advisory services to help clients with mergers and acquisitions, restructuring, valuations, and capital market transactions. 3. IBM New Zealand • Cloud Services: IBM provides cloud services to help clients optimize their IT infrastructure and applications, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). • Cognitive Solutions: IBM provides cognitive solutions to help clients use artificial intelligence (AI) and machine learning to solve business problems and gain insights from data. This includes services such as Watson, a cognitive computing platform that can analyze structured and unstructured data. • Consulting Services: IBM provides consulting services to help clients improve their business processes, optimize their IT infrastructure, and develop their digital strategy. • Security Services: IBM provides security services to help clients protect their data and IT infrastructure from cyber threats, including security consulting, managed security services, and security intelligence. • Technology Services: IBM provides technology services to help clients implement and manage their IT infrastructure, including network services, systems integration, and maintenance and support services. 28 • In addition, IBM New Zealand offers specialized services such as blockchain, Internet of Things (IoT), and analytics. 4. KPMG New Zealand • Audit and Assurance: KPMG provides audit and assurance services to a range of clients, including publicly listed companies, privately held businesses, and not-forprofit organizations. • Tax Services: KPMG provides a range of tax services, including tax compliance, tax consulting, tax planning, and international tax services. • Advisory Services: KPMG provides a range of advisory services to help clients improve their business processes and develop their digital strategy. This includes management consulting, risk consulting, and transaction advisory services. • Enterprise Services: KPMG provides enterprise services to help clients optimize their IT infrastructure and applications, including cloud services, cybersecurity, and IT strategy. • Legal Services: KPMG provides legal services to help clients with a range of legal issues, including corporate law, employment law, and intellectual property law. Regulators The primary regulators of the New Zealand startup ecosystem are: 1. Ministry of Business, Innovation and Employment (MBIE) - responsible for policies and programs to promote business innovation, entrepreneurship and growth. 2. Callaghan Innovation - a government agency that provides funding, advice, and research and development (R&D) services to New Zealand businesses, including startups. 3. Financial Markets Authority (FMA) - regulates financial markets and provides licensing and compliance oversight for companies operating in the financial sector, including fintech startups. 4. Commerce Commission - responsible for enforcing competition and consumer protection laws to ensure fair and competitive markets. 29 5. Inland Revenue Department (IRD) - responsible for administering tax laws and collecting taxes from businesses, including startups. 6. New Zealand Trade and Enterprise (NZTE) - the government's international business development agency, which helps New Zealand companies, including startups, to grow and succeed overseas. 7. Intellectual Property Office of New Zealand (IPONZ) - responsible for granting patents, trademarks, and designs and providing information and advice on intellectual property rights to businesses, including startups. Relationship between Stakeholders There are several stakeholders in the New Zealand startup ecosystem who play critical roles in supporting and promoting the growth of startups. These stakeholders include: 1. Entrepreneurs: Entrepreneurs are at the heart of the startup ecosystem in New Zealand. They are the ones who come up with innovative ideas, develop products or services, and create new businesses. 2. Investors: Investors provide funding and support to startups in exchange for equity in the company. In New Zealand, there are several types of investors, including angel investors, venture capitalists, and government-backed funds. 3. Government: The New Zealand government plays a significant role in supporting startups through various initiatives and funding programs. These include grants, tax incentives, and other forms of support to help startups grow. 4. Incubators and accelerators: Incubators and accelerators are organizations that provide support and resources to startups, such as office space, mentoring, and access to networks and funding. 5. Universities and research institutions: Universities and research institutions in New Zealand are often involved in the startup ecosystem, providing research and development support, as well as education and training programs for entrepreneurs. 6. Service providers: Service providers, such as lawyers, accountants, and marketing agencies, play a critical role in supporting startups by providing essential services and advice. 30 The stakeholders in the New Zealand startup ecosystem work together to support the growth of startups and help them succeed. By leveraging each other's strengths and resources, they create a thriving environment that fosters innovation and entrepreneurship. Contact Information and profiles of key leaders in the organizations. There are several key leaders in the New Zealand startup ecosystem who are driving innovation, supporting startups, and helping to build a thriving entrepreneurial community. Some of these leaders include: Dave Moskovitz: Dave Moskovitz is a prominent New Zealand entrepreneur and social entrepreneur. He has a background in software development and has co-founded several successful tech startups. Moskovitz's early career began as a software developer, and he founded his first software company in 1985. Since then, he has co-founded several other companies, including WebFund, a tech startup investment company that has invested in many successful startups in New Zealand and abroad. In addition to his work in the tech startup scene, Moskovitz is also a well-known social entrepreneur. He is the founder of the Enspiral network, a collaborative community of social entrepreneurs and changemakers who work on projects to make a positive social impact. Enspiral has launched several successful social enterprises, including Loomio, a digital tool for collective decision-making, and Chalkle, a community-driven education platform. Moskovitz is also involved in promoting innovation and education in New Zealand. He serves as a trustee for the Wellington High School Foundation and is a board member of the New Zealand Open Source Society. Rowan Yeoman: Rowan Yeoman is the founder of Startup Dunedin, a community-led initiative that helps to foster a vibrant startup ecosystem in Dunedin. He is also a mentor and advisor to several early-stage startups in New Zealand Greg Cross Greg Cross is a New Zealand entrepreneur and technology innovator. He is known for his work in the tech industry and has co-founded several successful startups. 31 Cross has a background in computer engineering and has been involved in the tech industry for over 25 years. He co-founded several successful tech startups, including Power By Proxi, which focused on wireless charging technology and was acquired by Apple in 2017. He also co-founded Cactus Equipment, a leading outdoor equipment brand, and several other startups. In addition to his work in the tech startup scene, Cross is also involved in promoting innovation and entrepreneurship in New Zealand. He is a member of the New Zealand Hi-Tech Hall of Fame, serves as the Chair of the New Zealand Hi-Tech Trust, and is a member of the board of directors for several other companies. Claudia Batten Claudia Batten is a New Zealand entrepreneur, investor, and philanthropist. She has a background in advertising and digital media and is known for co-founding several successful startups in the tech industry. Batten began her career in advertising in New Zealand before moving to the United States to pursue a career in digital media. In 1999, she co-founded Massive Incorporated, a digital advertising company that was acquired by Microsoft in 2006. She also co-founded Victors & Spoils, an advertising agency that was acquired by Havas Worldwide in 2012. Batten is also an active angel investor and has invested in several successful startups, including Loomio, a digital tool for collective decision-making, and the New Zealand-based venture capital fund Punakaiki Fund. In addition to her work in the tech industry, Batten is also involved in philanthropy and social impact. She is the co-founder of the Batten Institute, which supports social entrepreneurship and innovation in New Zealand, and serves on the board of several nonprofit organizations, including the New Zealand Film Commission. Derek Handley Derek Handley is a New Zealand entrepreneur, philanthropist, and social activist. He was born in 1978 in Hong Kong, but grew up in New Zealand. Handley completed his education at the University of Auckland, where he earned a degree in Commercial Law and Political Science. 32 Handley is best known as the co-founder of The Hyperfactory, a mobile marketing agency that he established in 2001 with his brother Geoffrey Handley. The company was acquired by the USbased Meredith Corporation in 2010. He has also served as the CEO of Flossie, a mobile hair and beauty booking platform. In addition to his work in the tech industry, Handley is also known for his philanthropic activities. He co-founded the Aera Foundation in 2008, which aims to support young people in achieving their full potential. Handley also served as the founding CEO of the B Team, a non-profit organization that promotes sustainable business practices. Suse Reynolds Suse Reynolds is a well-known figure in the New Zealand startup and technology industry. She is the founder and CEO of Angel Association New Zealand, a non-profit organization that supports the growth and success of angel investing in New Zealand. Reynolds has a background in law, and prior to founding the Angel Association, she worked as a commercial lawyer in New Zealand and the United Kingdom. She has also worked in venture capital and private equity, and has been involved in the establishment of several startup companies. As CEO of the Angel Association, Reynolds is dedicated to supporting the development of the angel investing ecosystem in New Zealand. She works with investors, entrepreneurs, and government organizations to promote the growth of early-stage investment in the country, and has been instrumental in the development of policies and initiatives that support startup growth. Lance Wiggs Venture capitalist and founder of Punakaiki Fund. Justin Flitter Justin Flitter is a New Zealand-based entrepreneur, keynote speaker, and business strategist. He is the founder of several successful companies, including NewZealand.com, a travel and Tourism Company, and Tech Futures Lab, a technology and innovation learning center. He is also a renowned public speaker and has given keynote addresses at various conferences and events around the world, sharing his expertise on topics such as digital marketing, social media, and the future of work. In addition to his business ventures, Flitter is actively involved in several charitable organizations and community initiatives, including the KidsCan charity, which supports the education and well-being of underprivileged children in New Zealand. 33 Stefan Korn Stefan Korn is a New Zealand-based entrepreneur, business consultant, and author. He is the founder and CEO of the management consulting firm, Korn Group Limited, which specializes in helping organizations optimize their performance and achieve their strategic goals. Korn is also the author of the book "Counterfear: How to Beat the Odds and Excel in Turbulent Times," which provides insights and strategies for dealing with uncertainty and disruption in today's rapidly changing business landscape. Prior to starting his own company, Korn held various executive positions in the telecommunications and technology industries, including serving as the Chief Strategy Officer of New Zealand's largest telecommunications company, Spark. He is also a frequent speaker and commentator on topics related to innovation, strategy, and leadership, and has been featured in various media outlets such as Forbes, CNN, and the New York Times. Sukhinder Singh CassidyCEO of Xero. Sukhinder Singh Cassidy is a Canadian entrepreneur and technology executive. She is the founder and chairman of theBoardlist, a technology company that aims to increase the number of women on corporate boards. Prior to founding theBoardlist, Singh Cassidy was the president of StubHub, a leading online ticket marketplace. She has also held executive positions at companies such as Google, Amazon, and Polyvore. John Holt : Founder and CEO of KiwiNet LinkedIn profiles Email Telephone no. Dave Moskovitz - Rowan Yeoman - Greg Cross - Claudia Batten Derek Handley - Suse Reynolds - Lance Wiggs - Stefan Korn -34 Sukhinder Singh Cassidy John Holt Potential employees The NZ Staff Turnover Survey provides information on a national basis, breaking this down into Voluntary and Involuntary Turnover and considering other factors such as location and company size. The 2021 report shows levels of staff turnover ranging between 8.4% and 45.5% with an average national rate of 18.5%. 1. Developers and Engineers: With the rise of technology startups, developers and engineers are in high demand. They are responsible for creating and maintaining the software and systems that power a startup. The average developer salary in New Zealand is $103,593 per year or $53.12 per hour. Entry-level positions start at $84,876 per year, while most experienced workers make up to $134,100 per year. 2. Designers: Designers are responsible for creating the look and feel of a product or service, including branding, user experience, and user interface. The average designer salary in New Zealand is $91,792 per year or $47.07 per hour. Entry-level positions start at $74,325 per year, while most experienced workers make up to $124,836 per year. 3. Marketing and Sales: Marketing and sales professionals are responsible for promoting a startup's products or services and acquiring new customers. Marketing assistants and executives usually earn $47K-$80K per year while marketing specialists usually earn $80K$130K per year. 4. Operations and Project Management: Operations and project management professionals are responsible for ensuring that a startup runs smoothly and efficiently, including managing resources, logistics, and timelines. The average project manager salary in New Zealand is $112,863 per year or $57.88 per hour. Entry-level positions start at $94,500 per year, while most experienced workers make up to $146,197 per year. 5. Finance and Accounting: Finance and accounting professionals are responsible for managing a startup's finances, including budgeting, forecasting, and financial reporting. The 35 average financial accountant salary in New Zealand is $92,500 per year or $47.44 per hour. Entry-level positions start at $75,000 per year, while most experienced workers make up to $112,318 per year. 6. Human Resources: Human resources professionals are responsible for managing a startup's human capital, including recruitment, employee benefits, and performance management. The average human resources salary in New Zealand is $75,596 per year or $38.77 per hour. Entry-level positions start at $60,500 per year, while most experienced workers make up to $120,666 per year. COMPETITIVE ANALYSIS OF ONLINE STRATEGIES Datacom Datacom regularly posts on its social media channels to keep its audience engaged and informed about its products, services, and industry news. It creates and shares valuable content such as blog posts, whitepapers, case studies, and infographics that provide insights into the technology industry and how their products and services can help solve business challenges. Datacom actively responds to comments and messages on its social media channels to engage with its audience and address any questions or concerns. It also uses a variety of visual content, including images, videos, and GIFs, to capture its audience's attention and provide a more engaging experience. Datacom participates in online communities, such as LinkedIn Groups, to engage with other professionals in the technology industry and showcase their thought leadership. Datacom encourages its employees to share and promote its content on their personal social media channels to expand their reach and enhance their brand image. It also uses paid advertising on social media platforms to reach a broader audience and promote specific products or services. These strategies help Datacom to build a strong social media presence and engage with its audience, ultimately leading to increased brand awareness and growth for the company. Deloitte New Zealand Deloitte New Zealand is a professional services firm that offers a range of services such as audit, consulting, tax, and financial advisory. To build a strong social media presence and engage with its audience, Deloitte New Zealand employs several social media strategies, including: 36 Deloitte New Zealand consistently posts on its social media channels to keep its audience informed about its services, industry trends, and thought leadership. It creates and shares valuable content such as reports, whitepapers, infographics, and videos that provide insights into the industry and how their services can help solve business challenges. Deloitte New Zealand regularly shares thought leadership pieces, including opinions, insights, and analysis on industry trends and issues. It actively responds to comments and messages on its social media channels to engage with its audience and address any questions or concerns. It uses a variety of visual content, including images, videos, and infographics, to capture its audience's attention and provide a more engaging experience. Deloitte New Zealand participates in online communities, such as LinkedIn Groups, to engage with other professionals in the industry and showcase their thought leadership. IBM New Zealand IBM New Zealand is a leading technology company that offers a wide range of services including cloud computing, artificial intelligence, data analytics, cybersecurity, and digital transformation solutions. To build a strong social media presence and engage with its audience, IBM New Zealand employs a variety of social media strategies, some of which are: IBM New Zealand regularly posts on its social media channels to keep its audience informed about its services, industry trends, and thought leadership. It creates and shares valuable content such as blog posts, reports, whitepapers, and case studies that provide insights into the technology industry and how their products and services can help solve business challenges. IBM New Zealand regularly shares thought leadership pieces, including opinions, insights, and analysis on industry trends and issues. It actively responds to comments and messages on its social media channels to engage with its audience and address any questions or concerns. They use a variety of visual content, including images, videos, and infographics, to capture its audience's attention and provide a more engaging experience. IBM New Zealand participates in online communities, such as LinkedIn Groups, to engage with other professionals in the industry and showcase their thought leadership. Interactive content such as polls, quizzes, and contests to engage its audience and provide a more interactive experience is also used. 37 KPMG New Zealand KPMG New Zealand is a professional services company that offers a range of services including audit, tax, and advisory services. To build a strong social media presence and engage with its audience, KPMG New Zealand employs several social media strategies, including: KPMG New Zealand consistently posts on its social media channels to keep its audience informed about its services, industry trends, and thought leadership. They create and shares valuable content such as reports, whitepapers, infographics, and videos that provide insights into the industry and how their services can help solve business challenges. Regularly shares thought leadership pieces, including opinions, insights, and analysis on industry trends and issues. KPMG New Zealand actively responds to comments and messages on its social media channels to engage with its audience and address any questions or concerns. It uses a variety of visual content, including images, videos, and infographics, to capture its audience's attention and provide a more engaging experience. KPMG New Zealand creates and shares podcast content to provide insights into the industry and share expertise. These social media strategies help KPMG New Zealand to build a strong social media presence and engage with its audience, ultimately leading to increased brand awareness and growth for the company. ECOSYSTEM CULTIVATION AND HUMAN CAPITAL RETENTION New Zealand's startup ecosystem has several initiatives to cultivate and retain human capital. Here are some ways they achieve this: New Zealand has many universities and colleges that offer degrees and courses in technology and entrepreneurship. They also have incubators and accelerators that provide training and mentorship to entrepreneurs. The New Zealand government provides several programs to support startups. They have a startup visa program that makes it easier for international entrepreneurs to start their business in New Zealand. They also have funding programs like the New Zealand Venture Investment Fund, which provides venture capital to startups. 38 New Zealand has a vibrant startup community, and there are many networking events and conferences that bring entrepreneurs and investors together. These events are an excellent opportunity for startups to meet potential investors and employees. The country has several collaborative workspaces that provide shared office spaces, equipment, and networking opportunities for startups. These spaces are an excellent way for startups to collaborate with other entrepreneurs and meet potential employees. New Zealand is known for its high quality of life, which makes it an attractive destination for entrepreneurs and employees. The country has a beautiful natural environment, a low crime rate, and a relaxed lifestyle. By combining these initiatives, this ecosystem creates an environment that encourages entrepreneurs to start businesses and provides the resources and support they need to succeed. 39 ROLES OF STAKEHOLDERS Stakeholders in New Zealand include entrepreneurs, investors, government agencies, universities, research institutions, business support organizations, industry associations, service providers, customers, competitors, and the community. All play vital roles in promoting innovation, entrepreneurship, and economic development in the country's startup ecosystem. Source: MDPI Entrepreneurs Entrepreneurs play a critical role in the New Zealand startup ecosystem. They are the driving force behind the creation and growth of new businesses and contribute to the country's economic development. The followings are their roles and functions: 1. Creating new businesses: Entrepreneurs are the driving force behind creating new businesses in the ecosystem. For example, Sam Morgan, the founder of Trade Me, created New Zealand's largest online auction site, which Fairfax Media later acquired for $700 million. The company has since become one of the most successful startups. 40 2. Developing innovative products and services: Entrepreneurs are known for their creativity and ability to identify new market opportunities. For example, Vaughan Rowsell, the founder of Vend, developed a cloud-based point-of-sale system that has since become a global leader in the industry. 3. Generating employment: Startups are known for creating jobs and stimulating economic growth. For example, the accounting software company Xero, founded by Rod Drury, has created thousands of jobs in the country and around the world. 4. Attracting investment: Entrepreneurs often attract investment from venture capitalists, angel investors, and other funding sources. For example, Rocket Lab, founded by Peter Beck, has raised over $288 million in funding to develop its satellite launch technology. 5. Fostering collaboration: Entrepreneurs often work with other startups, universities, and research institutions to develop new products and services. For example, the Wellingtonbased startup Volpara Health Technologies, founded by Ralph Highnam, works with universities and medical institutions to develop technology that helps to detect breast cancer. 6. Promoting diversity and inclusion: Many entrepreneurs are committed to promoting diversity and inclusion in their businesses and the ecosystem. For example, Ari Sargent, the founder of Powershop, has been recognized for his commitment to promoting gender diversity and environmental sustainability. 7. Inspiring others: Successful entrepreneurs inspire others to pursue their entrepreneurial dreams, creating a virtuous cycle of innovation and growth within the startup ecosystem. Investors Investors, including venture capitalists and angel investors, play a critical role in the New Zealand startup ecosystem by providing funding, expertise, financial support, and a network. This helps startups to grow and succeed while driving innovation and economic growth in the country. Their roles include: 1. Funding: Investors provide financial support to startups in exchange for equity or other forms of ownership, which help fuel their growth and promote innovation. For example, the venture capital firm Movac has invested in some of the most successful startups, including Trade Me, Xero, and Vend. 41 2. Offering expertise and mentorship: they often have experience in the industries or markets in which startups operate, which provides valuable insights and guidance. For example, Jenny Morel, the founder of the venture capital firm No 8 Ventures, has over 30 years of technology industry experience and has helped guide many successful startups. 3. Facilitating networking and connections: Investors have extensive networks and help startups to connect with potential customers, partners, and investors. For example, the angel investment network Ice Angels have helped fund and mentor over 60 startups, providing them access to a broad network of industry experts and investors. 4. Fostering collaboration and innovation: encouragement, collaboration, and innovation among their portfolio companies, which lead to new ideas and opportunities. For example, the venture capital firm Blackbird Ventures has invested in several startups, including Rocket Lab and Aroa Biosurgery, which is working to develop innovative solutions in the Space and medical industries, respectively. 5. Promoting economic growth: They have an important role in promoting economic growth by providing funding and support to startups, which leads to job creation and other economic benefits. For example, the New Zealand Venture Investment Fund (NZVIF) has invested in over 200 startups, helping to create thousands of jobs and drive economic growth in the country. Mentors and Advisors Mentors and advisors play a critical role in the startup ecosystem by providing guidance, expertise, and support to entrepreneurs and their startups. Their roles include: 1. Providing guidance and expertise: They often have extensive experience in the industries or markets where startups operate, providing valuable insights and guidance. For example, Victoria Ransom, the founder of Wildfire, a social media marketing company, has mentored several startups, providing them with guidance on marketing and growth strategies. 2. Facilitating networking and connections: Mentors and advisors have extensive networks and help startups to connect with potential customers, partners, and investors. For example, the startup accelerator Lightning Lab has a network of over 400 mentors and advisors who guide and support startups, helping them grow and succeed. 42 3. Offering emotional support: Starting and growing a business be a challenging and stressful experience, and mentors and advisors provide emotional support and encouragement to entrepreneurs. Andrew Hamilton, the CEO of the Icehouse, a startup incubator in Auckland, has mentored many entrepreneurs, providing them with support and guidance as they navigate the challenges of building a business. 4. Fostering collaboration and innovation: They encourage collaboration and innovation among entrepreneurs and their startups, which leads to new ideas and opportunities. Richard Liew, the founder of the startup news website Techday, has mentored several startups, helping foster collaboration and innovation in the ecosystem. 5. Promoting diversity and inclusion: Many mentors and advisors are committed to promoting diversity and inclusion in the ecosystem, helping to ensure that all entrepreneurs have access to the resources and support they need to succeed. David Downs, the founder of the startup accelerator Collider, has worked to promote diversity and inclusion in the New Zealand startup ecosystem by providing support and resources to underrepresented entrepreneurs. Incubators and Accelerators Business support organizations, including incubators, accelerators, and coworking spaces, provide services and support to startups, including mentorship, funding, and access to resources and networks. They help startups to develop their business models, refine their products and services, and attract investment. Their roles include: 1. Providing resources and support: provide access to resources such as office space, equipment, and software, as well as support services such as legal and financial advice. For example, Creative HQ, a startup incubator in Wellington, provides startups with office space, mentoring, and access to its network of investors and partners. 2. Offering mentorship and guidance: provide startups with access to mentors and advisors who offer guidance and support in areas such as marketing, finance, and product development. Lightning Lab, a startup accelerator in New Zealand, offers a three-month program that includes mentorship, workshops, and access to a network of investors and partners. 3. Facilitating networking and connections: Incubators and accelerators provide opportunities to network with other entrepreneurs, investors, and industry experts, helping them to form 43 valuable connections that lead to new partnerships and opportunities. The Icehouse, a startup incubator in Auckland, offers a range of networking events and workshops to help startups connect with other ecosystem members. 4. Fostering collaboration and innovation: They often encourage collaboration and innovation among startups, helping them to share ideas and work together to develop new products and services. The ZeroPoint Ventures accelerator program brings together groups of startups to work on specific healthcare, education, and sustainability challenges. 5. Promoting economic growth: They promote economic growth by helping startups to grow and succeed, creating jobs, and driving innovation in the country. For example, the KiwiNet Innovation Network, a network of research organizations and universities in New Zealand, works with startups to commercialize research and innovation, helping to drive economic growth and create jobs in the country. Government The government helps the startup ecosystem by creating an environment that fosters innovation and entrepreneurship. Its roles include: 1. Creating favourable regulatory and policy frameworks: The government has created favourable regulatory frameworks supporting entrepreneurship and innovation. The government has established a range of tax incentives for startups, such as the R&D Tax Incentive, which provides tax credits for businesses engaged in research and development. 2. Providing funding and support: The government also provides funding and support for startups through initiatives such as the Callaghan Innovation Growth Grant, which provides funding for businesses engaged in research and development. The government also supports initiatives such as the Startup NZ Entrepreneurs' Challenge, which provides funding and mentorship to early-stage startups. 3. Supporting startup incubators and accelerators: The government supports startup incubators and accelerators through initiatives such as the Technology Incubator Program, which provides funding to incubators and accelerators to support the growth and development of startups. 4. Investing in infrastructure: The government invests in infrastructure that supports entrepreneurship and innovation, such as broadband networks, coworking spaces, and 44 research facilities. The government has invested in the Ultra-Fast Broadband initiative, which provides high-speed internet access to businesses and individuals nationwide. 5. Promoting international trade and partnerships: this promotes international trade and partnerships, providing opportunities for startups to access new markets and customers. For example, the government has established the New Zealand Trade and Enterprise Agency, which provides support and resources to businesses looking to expand internationally. 6. Investing in research and development: Investing in research and development through initiatives such as the Marsden Fund, which provides funding for high-quality research in science, engineering, mathematics, social sciences, and the humanities. This investment helps drive innovation and provides startups access to cutting-edge research that they use to develop new products and services. 7. Providing education and training: provides education and training to support the development of a skilled workforce that drives innovation and entrepreneurship. For example, the government has established the Young Enterprise Scheme, which provides training and support for high school students to start their businesses. The government also supports initiatives such as the Manaaki Whenua-Landcare Research internship program, which provides opportunities for students to work on research projects with startups and other organizations in the ecosystem. Universities and Research Institutions Universities and research institutions play their part in the ecosystem by providing research, innovation, and commercialization capabilities. Below are their roles: 1. Research and innovation: Universities and research institutions are at the forefront of research and innovation in various fields. They provide a wealth of knowledge and expertise that startups leverage to develop new products and services. • The University of Auckland offers a research area called Unleash Space, an innovation and entrepreneurship hub. It has various advanced tools and machinery, including 3D printers, laser cutters, routers, electronics, vacuum formers, sewing machines, craft and art supplies, and a state-of-the-art Create and Maker Space. This Space is open to all members of the University, providing a collaborative environment for them to create and prototype their designs. Unleash Space 45 encourages innovation and enables University members to design for today and prototype for tomorrow. • The MacDiarmid Institute for Advanced Materials and Nanotechnology collaborates with several universities and research institutions. It conducts research on materials science and nanotechnology that can be used in various applications, including renewable energy, electronics, and healthcare. • The Robinson Research Institute at the University of Otago researches reproductive biology and fertility, which has led to the development of new technologies and products in the biotechnology industry. • University of Canterbury's Human Interface Technology Lab (HIT Lab NZ) researches virtual and augmented reality technologies in education, healthcare, and entertainment. • Callaghan Innovation is a government agency that provides research and development support to startups and businesses. It works with universities and research institutions to develop new technologies and products that help to drive innovation in the ecosystem. 2. Commercialization: they play a key role in commercializing new technologies and products. They provide startups with access to specialized equipment, research facilities, and intellectual property expertise that help to accelerate the commercialization process. For example • The University of Canterbury's Centre for Entrepreneurship provides startups access to mentors, networking opportunities, and funding to help them commercialize their innovations. • The Icehouse incubator and accelerator work with startups to help them commercialize their innovations. It partners with universities and research institutions to provide startups access to research, expertise, and funding opportunities. • The Health Innovation Hub (HIH) collaborates with several universities and research institutions. It provides support and resources to startups developing healthcare technologies, including access to clinical trials and regulatory advice. 46 3. Talent development: Universities and research institutions develop the talent required to support the startup ecosystem. They provide training and education to students who become entrepreneurs, researchers, and innovators in the ecosystem. For example • The University of Otago's Department of Management provides entrepreneurship courses that teach students the skills and knowledge to start and run a successful business. • The University of Waikato's WAND Network Research Group offers internships and other opportunities for students to gain experience in the cybersecurity industry. This helps develop a talent pipeline for startups and businesses in the ecosystem. • The University of Auckland's Velocity Entrepreneurship Programme gives students the skills and knowledge to start and run a successful business. The program includes mentorship, workshops, and networking opportunities. 4. Collaboration: Universities and research institutions collaborate with startups to share knowledge, expertise, and resources. This collaboration leads to the developing of new products and services that drive economic growth and create jobs. For example • The University of Waikato's Partnership Program connects startups with researchers to collaborate on research and development projects. • The New Zealand eScience Infrastructure (NeSI) collaborates with several universities and research institutions. It provides startups with access to highperformance computing resources and expertise, which be used to develop new products and services. • The Dodd-Walls Centre for Photonic and Quantum Technologies collaborates with several universities and research institutions. It provides startups access to research and expertise in photonics and quantum technologies. Service providers Service providers play a vital role in supporting the New Zealand startup ecosystem. They offer various services essential for startups to succeed and grow. Their roles include: 47 1. Legal firms help startups navigate the legal complexities of starting and running a business. They advise on issues such as incorporation, contracts, and intellectual property and help startups protect their legal rights and avoid legal issues. They include MinterEllisonRuddWatts, Simpson Grierson, and Buddle Findlay. 2. Accounting firms provide startups with accounting and financial services, including bookkeeping, tax compliance, and financial planning. They help startups manage their finances and ensure they remain compliant with regulations. Deloitte, PwC, and KPMG are some accounting firms that offer financial services to startups. 3. Marketing agencies help startups develop and execute effective marketing strategies, enabling them to build brand awareness and attract customers. They offer services such as market research, branding, and digital marketing. Eg, Digital Journey, 3rdeye, and Dubzz Digital Marketing 4. Business consultants advise startups on various business-related issues, including strategy, management, and operations. They help startups to identify and overcome challenges and to develop a roadmap for growth and success. For example, Crowe Horwath, BDO, and McKinsey & Company. 5. Incubators and accelerators support startups through mentorship, resources, and funding opportunities. They help startups to develop their ideas and products, connect with potential customers, and secure investment to scale their businesses. Lightning Lab, Creative HQ, and Icehouse Ventures are some incubators and accelerators. 6. Coworking spaces provide startups with flexible and affordable office spaces, networking opportunities, and access to resources such as meeting rooms, printers, and high-speed internet. BizDojo, Generator, and The Kitchen are examples of coworking spaces. Customers Customers play a vital role in the success of startups in the ecosystem. By being early adopters and brand ambassadors, customers help startups grow and succeed. Their roles are: 1. Providing feedback: they are the first users of a startup's products or services. They provide valuable feedback that helps the startup improve its offerings and provide better customer value. 48 2. Driving Innovation: Customer feedback helps startups identify new market opportunities and areas for innovation. 3. Early Adopters: Customers are adopters of a startup's products or services. These early adopters provide valuable insights into how the product is used, what features are popular, and what needs improvement. 4. Brand Ambassadors: Customers who are satisfied with a startup's products or services become brand ambassadors and help spread the word about the startup to their networks. This helps the startup build a strong reputation and gain more customers. 5. Market Validation: They help validate a startup's business model and market fit. If customers are willing to pay for a startup's product or service, it indicates a demand for it in the market. 6. Revenue Generation: Customers are the source of revenue for startups, and their purchases keep the startup in business. Customer revenue is especially important for startups that still need funding or have limited resources. 7. Referrals: Customers refer new customers to a startup, which helps the startup grow its customer base. Referrals are a cost-effective way for startups to acquire new customers because they often come with high trust and credibility. 8. Co-creation: Customers are involved in co-creating a startup's products or services. By involving customers in the design and development process, startups create products that better meet the needs of their customers. Competitors Competitors are essential to the startup ecosystem, driving innovation, providing benchmarking, creating collaboration opportunities, and encouraging differentiation. By navigating and leveraging competition, startups thrive and grow in the market. Their roles are: 1. Driving Innovation: They are a source of inspiration for startups to innovate and improve their products or services. They also help startups identify new market opportunities and areas for growth. For example, the New Zealand-based e-commerce startup, Trade Me, faced competition from international giants such as eBay and Amazon, which pushed the company to innovate and differentiate itself to stay ahead in the market. 49 2. Providing Benchmarking: Competitors serve as benchmarks for startups to measure their performance and progress. By comparing themselves to their competitors, startups identify their strengths and weaknesses and find ways to improve. Xero regularly benchmarks itself against its competitors to identify areas where it improves its product and service offerings. 3. Creating Collaboration Opportunities: Competitors also create opportunities for collaboration among startups. By working together, startups leverage their collective strengths to create new products or services that meet the needs of their customers. For example, the New Zealand-based online marketplace, TradeGecko, partnered with its competitor, Shopify, to offer a seamless integration of its products to help businesses manage their inventory and orders more efficiently. 4. Educating the Market: Competitors help educate the market about new products or services and create awareness about emerging trends. Doing so helps startups create a more receptive audience for their offerings. Ecotricity benefited from the efforts of its competitors in the renewable energy space, which helped create awareness about the importance of sustainable energy solutions. 5. Driving Pricing Strategies: Competitors also influence pricing strategies for startups. Startups need to adjust their pricing to remain competitive in the market or to attract customers away from their competitors. For instance, the New Zealand-based online retailer, Mighty Ape, competes with international retailers by offering competitive pricing and free shipping on orders above a certain value. 6. Fostering Industry Standards: Competitors help establish industry standards for products or services. By setting these standards, startups ensure that their offerings meet the expectations of their customers and are competitive in the market. Vend worked with its competitors to establish industry standards for cloud-based point-of-sale software, which helped create a more level playing field in the market. 7. Providing Acquisition Opportunities: Competitors also provide acquisition opportunities for startups. By acquiring a competitor, startups consolidate their market position, expand their customer base, and acquire valuable intellectual property. The New Zealand-based online accounting software company, MYOB, acquired its competitor, BankLink, to expand its product offerings and customer base. 50 Regulators Regulators play an essential role in the startup ecosystem by providing a framework for startups to operate within, ensuring compliance with laws and regulations, and protecting consumers. Their roles include: 1. Providing a Regulatory Framework: Regulators provide a clear regulatory framework for startups to operate within, which help reduce uncertainty and create a level playing field. For example, the Financial Markets Authority (FMA) regulates financial markets and services, providing a regulatory framework for startups operating in the fintech sector. 2. Ensuring Compliance: Regulators ensure startups comply with laws and regulations, protecting consumers and maintaining the market's integrity. For instance, the Commerce Commission enforces competition and consumer laws in New Zealand, ensuring that startups operate in a fair and competitive market. 3. Protecting Intellectual Property: They also protect startups' intellectual property through patents, trademarks, and copyright laws. Doing so helps startups protect their innovations and prevent others from copying them. For example, the Intellectual Property Office of New Zealand (IPONZ) is responsible for granting and enforcing patents and trademarks in New Zealand. 4. Facilitating Access to Funding: Regulators also facilitate funding for startups through programs such as the New Zealand Venture Investment Fund (NZVIF), which provides funding and support to early-stage startups. This help startups access the capital they need to grow and succeed. 5. Supporting Export Growth: Regulators also support the export growth of startups by providing access to international markets and facilitating trade agreements. For instance, the New Zealand Trade and Enterprise Agency supports and guides startups looking to export their products or services to international markets. 6. Providing Education and Guidance: Regulators provide education and guidance to startups on regulatory compliance, intellectual property, and other legal matters. This helps startups avoid costly legal mistakes and ensure that they operate within the law's bounds. The Ministry of Business, Innovation, and Employment guides startups on employment law, health and safety, and other regulatory matters. 51 7. Fostering Collaboration: Regulators also foster collaboration between startups and other stakeholders in the ecosystem, such as investors, industry associations, and research institutions. This helps startups access valuable resources and expertise and build partnerships that support their growth. For example, the New Zealand government's innovation agency, Callaghan Innovation, fosters collaboration between startups and research institutions to help commercialize new technologies. POWER DYNAMICS AND INFLUENCE OF STAKEHOLDERS Power dynamics refer to how power is distributed among different stakeholders and how it is exercised. Influence refers to stakeholders' ability to affect others' decisions and actions. Entrepreneurs Entrepreneurs hold significant power and influence in shaping the direction of the industry and the wider business community. Power dynamics: Although entrepreneurs in the startup ecosystem hold less power than larger, established corporations, they quickly adapt to changing market conditions and develop innovative solutions. For example, in fintech, companies such as Xero and Vend have disrupted traditional banking and retail point-of-sale systems, respectively, by offering more efficient and cost-effective cloud-based software solutions. Entrepreneurs can access various resources that help them grow and scale their businesses. For example, organizations such as the Icehouse and Lightning Lab provide mentorship, training, and networking opportunities to New Zealand startups, helping them gain valuable skills and connections that aid in their success. Influence: Entrepreneurs in the New Zealand startup ecosystem significantly influence the industry through their ability to create new products and services that disrupt established markets. For example, Rocket Lab, a space technology company founded in New Zealand, has revolutionized the global space launch industry by developing reusable rockets that are smaller, cheaper, and more efficient than traditional rockets. 52 Entrepreneurs play a key role in shaping government policies and regulatory frameworks that affect the startup ecosystem. For example, the New Zealand government has implemented several initiatives to support the startup ecosystem, such as the Innovation Partnership and the Callaghan Innovation Program. Entrepreneurs have been instrumental in advocating for these policies and engaging with policymakers to ensure that they effectively promote innovation and entrepreneurship. Finally, successful entrepreneurs in New Zealand serve as role models and mentors to other aspiring entrepreneurs, inspiring them to take risks and pursue their ventures. For example, Vaughan Rowsell, the founder of Vend, has become a well-known figure in the New Zealand startup ecosystem and has used his platform to share his experiences and insights with others. Investors Power dynamics: New Zealand startup ecosystem investors hold significant power due to their ability to fund startups. For example, the New Zealand Venture Investment Fund (NZVIF) is a governmentbacked fund that invests in startups focusing on high-growth businesses. Through this fund, investors can determine which companies receive funding and how much they receive. However, investors also face competition from each other for investment opportunities. For example, several angel investor groups in New Zealand, such as Ice Angels and Enterprise Angels, compete to identify promising startups and provide funding. Influence: Investors in the startup ecosystem significantly influence the industry through their ability to provide funding to startups. For example, Rocket Lab, a space technology company, secured a $140 million investment from leading global investors, including Future Fund and Greenspring Associates. This investment allowed the company to expand its operations and accelerate its growth. Investors also play a role in shaping the culture and practices of the startup ecosystem. For example, they prioritize certain types of businesses or industries over others. There has been a growing focus on sustainability and impact investing in recent years, with investors looking to support businesses making a positive social or environmental impact. 53 Investors also provide valuable mentorship, advice, and connections to entrepreneurs. For example, Sam Morgan, the founder of Trade Me, one of the most successful startups, has become a prominent angel investor and mentor in the local startup ecosystem, supporting and guiding many up-and-coming entrepreneurs. Mentors and Advisors Power dynamics: Mentors and advisors in the ecosystem hold relatively less power than investors, as they do not typically fund startups. However, their expertise and knowledge still hold some power over entrepreneurs. For example, a mentor or advisor influences the direction of a startup by guiding business strategy or product development. That being said, mentors and advisors often work in a collaborative and supportive capacity rather than a hierarchical one. Their goal is to help entrepreneurs succeed rather than exert power over them. Influence: Mentors and advisors in the ecosystem significantly influence the success of startups through their guidance and support. They provide entrepreneurs with valuable insights into industry trends, customer needs, and business strategy, which help shape the startup's direction. For example, Victoria MacLennan, a prominent tech entrepreneur, and advisor, has strongly advocated gender diversity in the startup ecosystem. She has worked with some female-led startups to help them succeed. Mentors and advisors also provide entrepreneurs access to valuable networks and connections, which help them secure funding, partnerships, or customers. For example, the Lightning Lab accelerator program connects startups with experienced mentors, advisors, potential investors, and customers. Incubators and Accelerators Power dynamics: Incubators and accelerators in the startup ecosystem hold significant power due to their ability to provide startups with valuable resources, such as funding, mentorship, and network access. For 54 example, Lightning Lab is one of the leading startup accelerators. It selects which startups participate in its program and the resources they provide to those startups. However, incubators and accelerators also face competition from each other for the best startups. For example, Creative HQ is another leading accelerator and competes with Lightning Lab to attract the most promising startups. Influence: Incubators and accelerators in the ecosystem significantly influence the industry through their ability to provide startups with valuable resources and support. For example, many successful startups have participated in accelerator programs, such as Xero, a leading accounting software company, which participated in the Lightning Lab accelerator program in its early stages. In addition to providing resources, incubators and accelerators also play a role in shaping the culture and practices of the startup ecosystem. For example, many accelerators in New Zealand have a focus on social impact and sustainability and prioritize startups that are making a positive impact on society and the environment. Furthermore, incubators and accelerators also provide startups access to investors, customers, and other key players in the ecosystem. For example, the Global from Day One (GD1) accelerator, based in Auckland, connects startups with potential customers and partners in the United States, helping them expand their market reach. Government Power dynamics: The government holds significant power over the startup ecosystem, as they provide funding and resources to support the growth of startups, as well as regulatory frameworks and policies that impact the industry. Callaghan Innovation is a government agency that provides funding and support to startups, focusing on driving innovation and growth. The government also influences the direction of the industry by shaping policies and regulations that impact startups. For example, the New Zealand government has introduced policies to encourage investment in startups, such as tax credits for research and development, as well as regulatory frameworks that promote entrepreneurship, such as simplifying the business process. 55 Influence: The government significantly influences the startup ecosystem through its policies, funding, and support. For example, Callaghan Innovation has funded many successful startups, including LanzaTech, a sustainable biofuels company, and Seequent, a software company that provides solutions for the mining industry. Furthermore, the government has also played a role in promoting the development of the startup ecosystem through initiatives such as the New Zealand Tech Innovation Network (NZTIN), which aims to connect startups with industry experts, mentors, and investors. The government has also played a role in promoting diversity and inclusion in the startup ecosystem. For example, the government has introduced initiatives such as the Women in STEM funding program, which aims to support women-led startups in science, technology, engineering, and math (STEM) fields. University and Research Institutions Power dynamics: Universities and research institutions in the New Zealand startup ecosystem hold significant power due to their ability to provide startups with access to research, knowledge, talent, and resources. The University of Auckland has a strong research focus, and startups in the region benefit from access to their research and expertise. Universities and research institutions also provide startups access to talent and resources, such as labs and equipment. The University of Canterbury's Centre for Entrepreneurship offers access to resources such as coworking spaces, mentors, and training programs. However, universities and research institutions also face competition from each other and other players in the ecosystem, such as incubators and accelerators. For example, the University of Auckland competes with other universities and research institutions to attract top talent and provide startups with access to resources. Influence: Universities and research institutions in the New Zealand startup ecosystem significantly influence the industry through their research, knowledge, and resources. For example, universities in New Zealand have played a role in supporting the growth of the biotech industry, with research 56 institutions such as the Malaghan Institute of Medical Research conducting groundbreaking research in the field. Universities and research institutions also play a role in shaping the culture and practices of the startup ecosystem. For example, the University of Canterbury's Centre for Entrepreneurship focuses on sustainability and social impact and encourages startups to consider their impact on the environment and society. Furthermore, universities and research institutions also provide startups with access to funding and other resources. For example, the University of Auckland's commercialization arm, UniServices, provides funding and support to startups based on their research and intellectual property. Service Providers Power dynamics: Service providers in the New Zealand startup ecosystem hold significant power as they provide essential services required for startups to operate effectively. These services include legal, accounting, marketing, and other professional services. For example, law firms such as MinterEllisonRuddWatts and accounting firms such as Deloitte and PwC provide startups with legal and financial advice. Service providers also compete with each other to provide startups with the best services and value for money. This competition drives down prices and increases the quality of startup services. However, service providers also face challenges in the ecosystem, such as competition from other players in the ecosystem and the need to adapt to changes in the market. Influence: Service providers in the New Zealand startup ecosystem significantly influence the industry through their ability to provide startups with essential services required for success. For example, legal firms assist startups with legal compliance, intellectual property protection, and commercial agreements, while accounting firms provide advice on financial management and tax compliance. Service providers also play a role in promoting the growth and development of the ecosystem. For example, marketing agencies assist startups with branding and promotion, while incubators and accelerators provide startups with access to a network of service providers. Service providers shape the culture and practices of the ecosystem. For example, legal firms specializing in social impact encourage startups to consider the impact of their business on society. 57 In contrast, accounting firms specializing in sustainability encourage startups to prioritize sustainable practices. Customers Power dynamics: Customers hold a significant amount of power in the New Zealand startup ecosystem, as they dictate the success or failure of a startup. Startups that successfully meet the needs and preferences of their customers are more likely to succeed, while those that need help attract and retain customers. Customers have access to a range of alternative products and services, which means they easily switch to a competitor if they are not satisfied with the product or service offered by a startup. This creates intense competition within the ecosystem as startups strive to differentiate themselves and offer unique value propositions to attract and retain customers. However, customers also need help finding and comparing products or services and the potential for exploitation by unscrupulous startups. Influence: Customers in the New Zealand startup ecosystem significantly influence the industry through their ability to drive demand for products and services. For example, customers provide feedback and suggestions to startups, which help them improve their products and services to better meet the needs and preferences of their customers. Furthermore, customers also play a role in promoting the growth and development of the ecosystem. For example, customers who are satisfied with a startup's product or service recommend it to their friends and family, which helps the startup to grow its customer base and increase its market share. Customers also can shape the culture and practices of the ecosystem. For example, customers who are concerned about sustainability be more likely to support startups that prioritize sustainable practices, which encourages startups to adopt more sustainable practices to attract and retain customers. 58 Competitors Power dynamics: Competitors hold significant power in the New Zealand startup ecosystem, as they capture market share and revenue that would otherwise go to other startups. Startups must compete for customers, funding, and talent, and those unable to differentiate themselves or provide unique value propositions need help to succeed. Competitors also have access to greater resources or more established networks, which give them an advantage in the market. Startups face challenges competing with larger or more established competitors, such as difficulty attracting investment or accessing key partnerships. Influence: Competitors in the New Zealand startup ecosystem significantly influence the industry through their ability to drive innovation and raise industry standards. For example, competitors invest in research and development or adopt new technologies to improve their products or services and gain a competitive advantage. This led to a "race to the top" regarding innovation and quality, which benefit the entire ecosystem. They also serve as collaborators or partners for startups. For example, startups form partnerships or alliances with competitors to gain access to new markets or technologies or to share resources and expertise. However, competitors also negatively influence the ecosystem, such as through aggressive or unethical business practices. Startups face challenges competing with competitors that engage in these practices, such as price undercutting or patent infringement. Regulators Power dynamics: Regulators hold significant power in the New Zealand startup ecosystem as they have the authority to shape the legal and regulatory environment in which startups operate. Their decisions significantly impact startups, such as by affecting their ability to access funding, operate in certain markets, or comply with regulations. Regulators also significantly impact the industry through their ability to shape public perception of startups. Negative regulatory decisions or public scandals involving startups harm the industry, making it more difficult for startups to attract investment or gain public trust. 59 Influence: Regulators in the New Zealand startup ecosystem significantly influence the industry by shaping the legal and regulatory environment. For example, the New Zealand government has created many programs and initiatives to support startups, such as the New Zealand Venture Investment Fund and the Callaghan Innovation Initiative. Regulators also influence the industry through their ability to promote standards and best practices. For example, regulators set standards for data privacy or security that startups must follow, which improve the overall quality of products and services in the industry. However, regulators also negatively influence the ecosystem through over-regulation or regulatory capture. Overly burdensome regulations make it difficult for startups to operate or compete, while regulatory capture lead to the interests of established players dominating the industry. VALUE CREATION Inputs: The inputs for the start-up ecosystem in New Zealand include financial capital, human capital, physical infrastructure, and intellectual property. Financial capital: Start-ups require financial capital to develop and market their products or services. In New Zealand, start-ups access funding from various sources, including angel investors, venture capitalists, and government grants. For example, LanzaTech, a New Zealand-based biotech start-up that converts industrial emissions into fuel, raised $72 million in a funding round led by New Zealand's sovereign wealth fund in 2020. Human capital: Skilled labour and entrepreneurial talent are crucial for driving innovation and managing operations. Start-ups in New Zealand access human capital through incubators, accelerators, and mentorship programs. For example, Flick Electric, a New Zealand-based energy start-up, received mentorship and support from New Zealand's Lightning Lab accelerator program. Physical infrastructure: Start-ups require physical infrastructure, such as office space, equipment, and technology, to develop and commercialize their products or services. In New Zealand, start-ups access physical infrastructure through co-working spaces, incubators, and accelerators. For example, Xero, a New Zealand-based accounting software company, was founded in a Wellington co-working space and has since grown to become a global company with offices in multiple countries. 60 Intellectual property: Patents, trademarks, and copyrights are essential for protecting a start-up's innovations and preventing competitors from imitating its products or services. Start-ups in New Zealand access intellectual property protection through government agencies, such as the Intellectual Property Office of New Zealand. For example, Rocket Lab, a New Zealand-based aerospace company, has multiple patents for its proprietary rocket technology. Processes The processes involved in the value creation process within the start-up ecosystem in New Zealand include creativity, research and development, funding, commercialization, and scaling. Ideation: Start-ups in New Zealand engage in ideation through brainstorming sessions, market research, and customer feedback. For example, Soul Machines, a New Zealand-based start-up that creates digital avatars for customer service, developed its technology through collaboration with researchers from the University of Auckland. Research and development: Start-ups in New Zealand engage in research and development through partnerships with academic institutions, industry experts, and other stakeholders. For example, Locus Research, a New Zealand-based product design consultancy, has worked with start-ups and established companies to develop new products and services. Funding: Start-ups require funding to move from ideation to commercialization. In New Zealand, start-ups access funding from various sources, including angel investors, venture capitalists, government grants, and crowdfunding. For example, Banqer, a New Zealand-based ed-tech start-up that teaches financial literacy to children, raised $1 million in a funding round led by a New Zealand venture capital firm. Commercialization: Start-ups in New Zealand engage in commercialization through marketing and sales, distribution partnerships, and strategic alliances with other businesses. For example, Invenco, a New Zealand-based technology company that develops payment systems for the retail fuel industry, has partnered with global companies such as Intel and Microsoft. Scaling: Start-ups in New Zealand scale by expanding their product or service offerings, entering new geographic markets, and increasing operational efficiencies. For example, Vend, a New Zealand-based point-of-sale software company, has expanded to multiple countries and offers retailers a range of products and services. 61 Outputs The outputs of the value creation process within the start-up ecosystem in New Zealand include economic growth, job creation, and innovation. Economic growth: Start-ups create new products or services that meet unmet market needs, stimulating demand and increasing economic activity. For example, Rocket Lab's rocket launches have stimulated demand for satellite launches and space-related services, contributing to New Zealand's aerospace industry. VALUE PROPOSITION Entrepreneurs Entrepreneurs create new ventures, drive innovation, and create employment opportunities. The value propositions of entrepreneurs are: 1. Driving innovation: Entrepreneurs are the primary drivers of innovation in the start-up ecosystem. They identify unmet needs, develop new products and services, and create new business models that disrupt existing markets. By doing so, they stimulate economic growth and create value for customers, investors, and society. 2. Creating employment opportunities: Key drivers of job creation in the ecosystem. By creating new businesses and expanding existing ones, they provide employment opportunities for the local workforce, which helps to drive economic growth and reduce unemployment. 3. Attracting investment: Successful entrepreneurs can often attract significant investment from domestic and international sources. This investment is used to fund further innovation and growth, creating even more jobs and economic value. 4. Encouraging collaboration: Entrepreneurs also often work together to share ideas, resources, and expertise. This collaboration leads to the creation of new products and services that are more innovative and impactful than those that could be created by individual entrepreneurs working alone. 5. Building a vibrant start-up culture: entrepreneurs are instrumental in building a vibrant startup culture in New Zealand. Creating successful start-ups inspires and motivates others to 62 start their ventures, creating a positive feedback loop that drives further innovation and economic growth. 6. Addressing social and environmental challenges: Many entrepreneurs are focused on developing solutions to social and environmental challenges. By creating businesses that address issues such as climate change, poverty, and inequality, they are making a positive impact on society and the planet. 7. Driving regional development: Entrepreneurs are often based in regional areas, where they create jobs and drive economic development in previously underserved or overlooked areas. This helps to reduce regional inequalities and support the growth of diverse and vibrant local communities. 8. Bringing diverse perspectives: Entrepreneurship is open to anyone with a good idea and the drive to pursue it, regardless of background or experience. This diversity of perspectives leads to creation of more innovative and impactful businesses that serve a broader range of customers and stakeholders. 9. Fostering a culture of risk-taking: Starting a new business involves taking risks, and successful entrepreneurs in the ecosystem are often seen as role models for risk-taking and innovation. By fostering a culture that values experimentation and learning from failure, entrepreneurs are helping to create a more dynamic and adaptive business environment. 10. Contributing to New Zealand's global reputation: Finally, successful entrepreneurs in the New Zealand start-up ecosystem help to raise the country's profile on the global stage. By creating globally competitive and innovative businesses, they are showcasing New Zealand's potential as a hub for entrepreneurship, technology, and innovation. This attracts further investment and talent to the country, driving further growth and development. Investors The value proposition of investors in the New Zealand start-up ecosystem is summarized as follows: 1. Providing capital: The primary value proposition of investors in the New Zealand start-up ecosystem is their ability to provide the capital that entrepreneurs need to start and grow their businesses. This capital be used to fund research and development, hire employees, and scale operations. 63 2. Access to expertise and networks: Many investors have a wealth of experience and networks they share with the entrepreneurs they invest in. This expertise includes business strategy, marketing, financial management, and connections to other investors, customers, and industry experts. 3. Mitigating risk: Investing in start-ups is inherently risky, but many investors developed strategies to mitigate this risk. This includes diversifying their portfolio across multiple start-ups, investing in start-ups with proven business models or revenue streams, or partnering with other investors to share risk. 4. Creating value: By investing in start-ups that are creating innovative products and services, investors in the New Zealand start-up ecosystem are helping to create value for customers, investors, and society at large. Successful start-ups generate significant returns for investors while creating jobs, driving economic growth, and addressing social and environmental challenges. 5. Contributing to New Zealand's economic growth: investors are contributing to the country's economic growth by supporting the development of new businesses and industries. By providing the capital and expertise that entrepreneurs need to succeed, they are helping build a more dynamic and diversified economy that competes globally. 6. Promoting diversity and inclusion: Many investors are committed to promoting diversity and inclusion in their businesses. This includes supporting start-ups founded by women, people of colour, and other underrepresented groups and investing in businesses focused on addressing social and environmental issues. 7. Encouraging responsible business practices: Finally, investors are increasingly focused on promoting responsible business practices among the start-ups they invest in. This includes encouraging start-ups to adopt sustainable and ethical business practices and supporting businesses committed to creating positive social and environmental impacts. By doing so, investors are helping to build a more responsible and sustainable economy that delivers long-term value for all stakeholders. Mentors and Advisors The value proposition of mentors and advisors in the New Zealand start-up ecosystem be summarized as follows: 64 1. Experience and expertise: they bring a wealth of experience and expertise, having often founded and grown businesses. This experience be invaluable to entrepreneurs as they seek to navigate the challenges of starting and growing a business. 2. Connections and networks: they bring valuable connections and networks to the table, which help entrepreneurs build relationships with potential customers, investors, and partners. These connections be especially valuable for entrepreneurs who are just starting and need an established network. 3. Guidance and support: Mentors and advisors guide and support entrepreneurs as they make critical decisions about their businesses. This includes advice on everything from product development and marketing to fundraising and team building. 4. Accountability and feedback: Mentors and advisors also hold entrepreneurs accountable for their progress and provide constructive feedback to help them improve. Mentors and advisors help entrepreneurs avoid common pitfalls and make better decisions by providing a sounding board for ideas and strategies. 5. Inspiration and motivation: Finally, mentors and advisors serve as sources of inspiration and motivation for entrepreneurs, providing encouragement and helping them to stay focused and committed to their goals. 6. Personal development: Mentors and advisors in the start-up ecosystem also provide opportunities for personal and professional development for entrepreneurs. By sharing their knowledge and experience, mentors and advisors help entrepreneurs build new skills and capabilities, which can be applied to their current business and future ventures. This personal development is especially valuable for first-time entrepreneurs still learning the ropes of running a business. Incubators and Accelerators Incubators and accelerators are key players in the New Zealand start-up ecosystem, providing entrepreneurs with the resources and support they need to start and grow their businesses. The value proposition of incubators and accelerators in the New Zealand start-up ecosystem be summarized as follows: 65 1. Access to resources: Incubators and accelerators provide entrepreneurs with access to a wide range of resources, including office space, equipment, and software, as well as mentorship, funding, and networking opportunities. 2. Validation and testing: Incubators and accelerators help entrepreneurs validate their business ideas and test their products or services in a supportive environment. This help entrepreneurs refine their ideas and make better decisions about their businesses. 3. Business support and education: Incubators and accelerators offer a range of business support services, including education and training on topics such as business planning, financial management, and marketing. These services help entrepreneurs build the skills and knowledge they need to succeed. 4. Access to funding: Incubators and accelerators often have connections to investors and help entrepreneurs secure funding to grow their businesses. This includes access to angel investors, venture capitalists, and government grants and loans. 5. Networking opportunities: Incubators and accelerators provide entrepreneurs access to a network of other start-ups, industry experts, and investors. These connections be valuable for building partnerships, finding customers, and securing funding. 6. Brand recognition and reputation: Joining an incubator or accelerator help entrepreneurs build their brand and reputation in the marketplace. This is especially valuable for earlystage start-ups that are still establishing themselves. Government The government in New Zealand provides various support systems and initiatives to encourage entrepreneurship and innovation in the start-up ecosystem. Here are seven examples of how the government adds value to the start-up ecosystem in New Zealand: 1. Funding and Grants: The government in New Zealand provides a range of funding and grants to support start-ups at different stages of growth. For example, the Callaghan Innovation Agency provides R&D grants, and the New Zealand Venture Investment Fund (NZVIF) invests in start-ups. In addition, the government provides innovation vouchers to enable start-ups to access expertise and resources in research organizations. 2. Incubators and Accelerators: The government in New Zealand supports several incubators and accelerators to provide mentorship, resources, and networking opportunities to start66 ups. For example, Lightning Lab is a start-up accelerator supported by the government that provides mentorship, resources, and funding to help start-ups scale their businesses. 3. Policy and Regulation: The government in New Zealand creates policies and regulations that encourage innovation and entrepreneurship. For instance, it has streamlined business registration processes, introduced tax incentives for R&D, and implemented policies that boost the tech sector's growth. 4. Education and Training: The government in New Zealand invests in education and training programs that equip entrepreneurs with the skills and knowledge necessary for success. For instance, the government provides programs that train entrepreneurs to start and run businesses. 5. International Networks and Partnerships: The government in New Zealand leverages its international networks and partnerships to create opportunities for start-ups to expand globally. For instance, the government has trade agreements with various countries and has established partnerships with international organizations to provide access to global markets. 6. Research and Development: The government in New Zealand invests in research and development initiatives that support innovation across different sectors. For example, the government funds research and development activities in biotech, agriculture, and clean technology to drive innovation and create new opportunities for start-ups in these sectors. 7. Start-up Visa: The government in New Zealand has introduced a Global Impact Visa (GIV) program that provides a pathway for global entrepreneurs to establish their businesses in the country. The program provides a fast-track visa process, mentorship, and support to help start-ups get established in New Zealand. Universities and Research Institutions Universities and research institutions play an essential role in the start-up ecosystem in New Zealand by providing access to resources, expertise, and research that help start-ups develop innovative products and services. Here are seven examples of how universities and research institutions add value to the start-up ecosystem in New Zealand: 1. Commercialization of Research: Universities and research institutions in New Zealand invest in research and development activities that generate new intellectual property and 67 technology. These institutions collaborate with start-ups to commercialize their research, providing them access to expertise and resources that help bring their products to market. For example, the KiwiNet program provides funding and support to start-ups looking to commercialize technology developed by New Zealand's universities and research institutions. 2. Entrepreneurship Education: Universities and research institutions in New Zealand offer entrepreneurship programs that equip students with the skills and knowledge necessary to start and run businesses. These programs provide students with access to mentorship, networking opportunities, and other resources that help them succeed as entrepreneurs. For example, the University of Auckland's Business School offers an MBA program focusing on entrepreneurship. 3. Access to Talent: Universities and research institutions in New Zealand provide access to talented researchers, scientists, and engineers who help start-ups develop new products and services. These institutions also offer internship programs that provide students with realworld experience in start-ups, helping them develop valuable skills and experience. 4. Research Partnerships: Universities and research institutions in New Zealand collaborate with start-ups on research partnerships, providing them with access to expertise and resources that help them develop innovative solutions. For example, the Auckland Bioengineering Institute at the University of Auckland collaborates with start-ups to develop new medical devices and technologies. 5. Intellectual Property Support: Universities and research institutions in New Zealand provide start-ups with access to legal and intellectual property support, helping them to protect their ideas and inventions. These institutions also provide access to patent databases and other resources that help start-ups navigate the complex patent process. 6. Access to Funding: Universities and research institutions in New Zealand provide start-ups with access to funding through grants and other programs. For example, the University of Canterbury offers the UC Innovators program, which provides funding and mentorship to start-ups looking to commercialize technology developed at the university. 7. Shared Workspace and Facilities: Universities and research institutions in New Zealand provide start-ups with access to shared workspace and facilities, including labs, prototyping equipment, and co-working spaces. For example, the GridAKL innovation precinct at the 68 University of Auckland provides start-ups with access to various resources, including labs, equipment, and mentorship. Service Providers Service providers play a crucial role in the New Zealand start-up ecosystem by offering specialized services and support that help start-ups grow and scale. 1. Legal Services: Start-ups require legal services to help them navigate complex legal issues, such as intellectual property protection, contract negotiations, and regulatory compliance. Law firms like Chapman Tripp and MinterEllisonRuddWatts provide legal services specifically tailored to start-ups. 2. Accounting and Financial Services: Start-ups require accounting and financial services to manage their finances, including bookkeeping, tax compliance, and financial reporting. Accounting firms like Deloitte and PwC offer specialized services for start-ups, including financial modelling, fundraising, and exit planning. 3. Marketing and PR Services: Start-ups require marketing and public relations services to help them build their brand, attract customers, and create buzz around their products and services. Marketing and PR firms like One Plus One and Pead PR offer specialized start-up services, including social media management, influencer marketing, and event planning. 4. HR and Recruitment Services: Start-ups require HR and recruitment services to help them build and manage their team, including recruiting and hiring new employees, managing employee benefits and payroll, and ensuring compliance with employment laws. HR and recruitment firms like Frog Recruitment and Find Recruitment offer specialized services for start-ups. 5. IT and Software Services: Start-ups require IT and software services to develop and maintain their digital infrastructure, including web development, software development, and cybersecurity. IT and software development firms like Datacom and Xero offer specialized start-up services, including cloud-based accounting and financial software. 6. Design Services: Start-ups require design services to create visually appealing and userfriendly products and services, including graphic design, UX/UI design, and product design. Design firms like DNA and Method offer specialized services for start-ups, including branding and identity design, product design, and UX/UI design. 69 7. Incubator and Accelerator Programs: Incubator and accelerator programs offer start-ups access to specialized services and support, including mentorship, networking opportunities, funding, and workspace. Incubators and accelerators like Lightning Lab and Icehouse Ventures offer specialized programs for start-ups, including industry-specific programs for fintech and agritech start-ups. Customers Customers play a vital role in the New Zealand start-up ecosystem by providing the revenue and feedback necessary for start-ups to grow and succeed. 1. Early Adopters: Start-ups often rely on early adopters to try their product or service and provide feedback that helps improve their offerings. For example, when Xero, a cloudbased accounting software start-up, launched in New Zealand, it relied on early adopters to provide feedback on its product, which helped it refine its offering and expand into international markets. 2. Beta Testers: Many start-ups offer beta testing programs that allow customers to try their product or service before it is fully launched. Beta testers provide valuable feedback that helps start-ups improve their offering and identify issues before launch. For example, Banqer, a financial education platform for primary schools, relied on beta testers to provide feedback on its product before it launched, which helped it improve its offering and secure funding. 3. Brand Advocates: Customers who have a positive experience with a start-up's product or service become brand advocates, promoting the start-up to their networks and helping to generate new business. For example, Fix & Fogg, a gourmet peanut butter company, has built a loyal following of customers who promote its products on social media and through word of mouth. 4. Repeat Customers: Repeat customers provide a stable source of revenue for start-ups and help drive growth over time. For example, Allbirds, a sustainable footwear company, has built a loyal following of repeat customers who appreciate the company's commitment to sustainability and ethical manufacturing. 5. Strategic Partners: Customers also serve as strategic partners for start-ups, providing access to new markets or distribution channels. For example, Sunfed, a plant-based meat alternative start-up, partnered with the New Zealand supermarket chain Countdown to 70 distribute its products nationally, which helped it expand its customer base and grow its business. 6. Co-Creators: Some start-ups involve customers in product development, allowing them to provide feedback and ideas that shape the final product. For example, Thundermaps, a safety management software start-up, developed its product in collaboration with customers, which helped it create a product that better met the needs of its target market. 7. Investors: Finally, customers also serve as investors, funding start-ups to grow and scale. For example, Joyous, a human resources software start-up, raised funding from customers who believed in its mission and wanted to support its growth. Competitors 1. Market Research: Competitors serve as a source of market research for start-ups, providing insights into customer needs, industry trends, and potential gaps in the market. For example, when Pic's Peanut Butter launched in New Zealand, it studied the competition to identify opportunities to differentiate its product and appeal to a niche market of peanut butter enthusiasts. 2. Innovation: Competitors spur innovation by pushing start-ups to improve their products or services or to develop new ones that better meet customer needs. For example, when ClickClack, a New Zealand-based kitchenware company, faced competition from international brands, it invested in innovation to create new, more sustainable products that differentiated it in the market. 3. Collaboration: Competitors also serve as potential collaborators for start-ups, particularly when they operate in complementary industries. For example, a start-up that provides a software solution for small businesses collaborates with a competitor that provides a payment processing solution to offer a comprehensive suite of services. 4. Differentiation: Competitors help start-ups differentiate themselves by highlighting their unique selling points or areas of expertise. For example, when Macpac, a New Zealand outdoor gear company, faced competition from international brands, it emphasized its commitment to local production and sustainability. 5. Acquisition: Competitors also serve as potential targets for start-ups looking to expand their market share or access new technology or talent. For example, in 2019, New Zealand 71 mobile marketing company Plexure acquired US-based competitor QSR, which helped it expand its customer base and product offerings. 6. Market Education: Competitors educate the market and help create demand for new products or services, particularly in emerging industries. For example, when Rocket Lab, a New Zealand-based space technology company, launched its first successful rocket launch in 2018, it helped educate the market on the space industry's potential and created a demand for its services. MenRegulators Regulators play an important role in the New Zealand start-up ecosystem by setting and enforcing standards and regulations that ensure fair competition, consumer protection, and the safety and sustainability of products and services. 1. Legal Framework: Regulators provide a legal framework for business activities, including start-ups. For example, the New Zealand Companies Office regulates the formation and registration of companies, ensuring that they comply with legal requirements and operate transparently. 2. Consumer Protection: Regulators protect consumers by setting standards for product safety and quality and ensuring that businesses adhere to fair trading practices. For example, the New Zealand Commerce Commission regulates competition and consumer issues, including enforcing consumer protection laws and preventing anti-competitive behaviour. 3. Intellectual Property Protection: Regulators protect the intellectual property of start-ups by providing legal frameworks for patents, trademarks, and copyrights. For example, the New Zealand Intellectual Property Office administers intellectual property rights, helping startups to protect their innovative ideas and inventions. 4. Environmental Standards: Regulators ensure start-ups comply with environmental standards and regulations, promoting sustainability and reducing environmental harm. For example, the New Zealand Environmental Protection Authority regulates activities that impact the environment, such as waste management, water and air quality, and hazardous substances. 5. Health and Safety Standards: Regulators set and enforce health and safety standards to protect employees and customers from harm. For example, WorkSafe New Zealand 72 regulates workplace health and safety, ensuring that businesses provide a safe working environment for their employees. 6. Taxation and Financial Regulation: Regulators oversee financial regulations and taxation, ensuring that start-ups comply with legal requirements and are transparent about their financial activities. For example, the Inland Revenue Department regulates tax and financial activities, including providing guidance on taxation requirements and ensuring compliance with anti-money laundering regulations. 7. Innovation Support: Regulators also support innovation by creating favourable conditions for start-ups to thrive. For example, the New Zealand government grants and incentivizes start-ups in key industries, such as technology and innovation, to help them grow and expand. MENTORING AND CONSULTING Business Mentors New Zealand Business Mentors New Zealand is a national business mentoring service provider to the SME sector in New Zealand. The organization was established in 1991, and since then, it has helped over 70,000 SME owners to achieve their goals. The number of clients continues to increase, with the organization engaging with existing businesses, start-ups, and the not-for-profit sector on an annual basis. The mentoring service is made possible by a network of over 2,000 volunteer business mentors and 14 agencies throughout New Zealand. These mentors have diverse skills and experience, which they use to provide our business clientele with a sounding board to assist in their personal growth and business development potential. Business Mentors New Zealand has a clear mission to enhance small business sustainability by mobilizing volunteer resources and utilizing the skills and experience of successful business people to meet community needs. This includes supporting the creation and retention of employees, as well as the alleviation of financial hardship in urban and rural communities. The organization has a clear vision to be the leading, community-focused mentoring service for SMEs in New Zealand, providing an outstanding, effective national service to our clients. 73 Additionally, the organization aims to be funded by businesses yet strongly endorsed and supported by the central government, local government, and other key organizations or agencies involved in developing this important sector. Talk to Eve Talk to Eve is a freelance business consulting, advisory, coaching, and mentoring company owned by Eve Mullins. The company offers valuable services to businesses and start-ups in New Zealand based on the information provided. Eve Mullins brings years of experience in business consulting, advisory, coaching, and mentoring. She collaborates with businesses in New Zealand to provide solutions to their challenges and is passionate about finding innovative products and opportunities for businesses to excel domestically and internationally. Talk to Eve provides a fresh perspective to guide businesses and make necessary changes to meet strategic goals. Eve is skilled in identifying areas where businesses innovate and aligning these opportunities with their skills and resources. She guides a variety of business areas such as strategy, product development, sales, marketing, digital mastering, choosing business models, outsourcing, and providing advice to managers and owners. She helps create a viable exit plan if challenges cannot be resolved. New Zealand Coaching and Mentoring Centre The New Zealand Coaching & Mentoring Centre is a service provider that offers a full range of coaching and mentoring services to help businesses align their program design, training, and oneto-one executive leadership coaching with their business strategy. They have been recognized as leaders in strategic coaching and mentoring development and have a proven track record of helping organizations build coaching approaches into work at every level. Their services cater to both large and small organizations and individuals across the public, private, and NGO sectors, not only in New Zealand but also in Australia and other international markets. Their approach to coaching and mentoring is tailored to each client's specific needs. Their team of experienced coaches and mentors is committed to helping businesses, and individuals reach their full potential. Through its coaching and mentoring programs, the New Zealand Coaching & Mentoring Centre helps businesses and individuals develop leadership skills, enhance communication and collaboration, manage change, and drive innovation. They also provide training and development 74 opportunities to ensure businesses and individuals have the skills and knowledge necessary to succeed in today's dynamic and rapidly changing business environment. Mather Consulting Mather Consulting is a consulting firm that focuses on enhancing leadership, building highperforming teams, and creating a positive organizational culture to facilitate business growth. The company collaborates with a variety of development providers to create personalized solutions for its clients. With its extensive experience delivering projects across diverse organizations, Mather Consulting has a broad and in-depth understanding of business practices and organizational dynamics. This wealth of experience and insight significantly benefit clients seeking to improve their leadership skills and teams' performance, as well as foster a positive organizational culture that supports growth and success. By partnering with Mather Consulting, clients benefit from the firm's expertise in developing customized solutions that align with their unique needs, goals, and challenges. Mather Consulting's commitment to delivering tailored solutions that suit its client's requirements is a testament to its customer-centric approach. Mather Consulting's expertise in developing leadership talent, building high-performing teams, and creating a positive organizational culture makes it an invaluable partner for businesses seeking growth and success. Its experience in delivering projects across diverse organizations underscores the company's ability to offer valuable insights and solutions that help businesses overcome their challenges and realize their goals. Wipro Wipro is a global information technology, consulting, and business process Services Company with a strong presence in New Zealand. The company has been operating in the country since 2001, with offices in Auckland and Wellington. It offers various services to clients across various industries, including banking, insurance, healthcare, and retail. Wipro has been expanding its digital capabilities in New Zealand recently, focusing on cloud computing, data analytics, and artificial intelligence. The company has also made strategic acquisitions to strengthen its local presence and capabilities, including the acquisition of Designit in 2018. These efforts have contributed to the company's success in the country, including being named a finalist in the Best ICT Team Culture category at the 2020 New Zealand CIO Awards. 75 In addition to its technological capabilities, Wipro has been recognized for its commitment to sustainability and social responsibility. The company was named one of the World's Most Ethical Companies by the Ethisphere Institute for the tenth consecutive year in 2021, a testament to its values and practices. New Developments in the Startup Sector of New Zealand A drone delivery startup was approved to set up a hub in Auckland. The startup, SkyDrop has revolutionized food delivery. The company partnered with Domino’s for trial purposes. This approval gives way to other startups seeking to revolutionize delivery by use of unorthodox methods. Startups also focused on aquaculture can apply to get industrial guidance to help them navigate the marine industry. Hatch Blue and New Zealand Trade and Enterprise – Te Taurapa Tūhono (NZTE) are facilitating this program. The program also offers business support for startups developing innovative technology in the aqua sector, to help them get into the global marketplace. New Zealand has put efforts to improve agricultural practices. The government has set up a plan to ensure agribusinesses have the necessary business support and resources to succeed. Through the New Zealand Trade and Enterprise, the country has helped companies focusing in agri-tech to improve agricultural processes. Startups and well-established businesses can acquire funding through government offered grants. These grants are meant to help innovative companies secure monetary support to develop their visions into reality. These grants include; grants to help start a business such as Flexi-wage, tax incentives such as the Callaghan Innovation R&D Tax Incentive, and student grants. SWOT ANALYSIS New Zealand is a small but thriving start-up ecosystem that has gained traction recently. With government support, access to funding, and a highly skilled workforce, New Zealand presents many opportunities for start-ups looking to grow and expand. However, the country also faces challenges, including a small domestic market and limited resources, which make it difficult for start-ups to scale. In this SWOT analysis, we will examine the strengths, weaknesses, opportunities, and threats facing the New Zealand start-up ecosystem and provide examples of successful startups that have emerged from this ecosystem. 76 Strengths: 1. Government support: The New Zealand government provides a supportive environment for start-ups through policies, funding, and tax incentives. For example, the New Zealand government offers tax credits to R&D investments, which helps start-ups reduce costs. 2. Access to funding: New Zealand has a robust and growing ecosystem of investors and venture capitalists willing to invest in early-stage start-ups. The country also has many incubators and accelerators that support start-ups in their early stages. 3. Skilled workforce: New Zealand has a highly skilled and educated workforce, which is vital to the success of start-ups. The country strongly focuses on education, and many universities offer programs specifically designed to support entrepreneurship. 4. Quality of life: New Zealand is consistently ranked as one of the best places to live in the world, and this is a significant advantage for start-ups looking to attract and retain talent. 5. Growing industries: New Zealand has many growing industries, including technology, agriculture, and renewable energy. This provides opportunities for start-ups to develop innovative solutions that address the needs of these industries. Weaknesses: 1. Small domestic market: New Zealand has a small domestic market, which makes it challenging for start-ups to scale. This means that many start-ups need to look overseas for growth opportunities. 2. Distance from other markets: New Zealand's isolation from other major markets makes it difficult for start-ups to establish international partnerships and access new markets. 3. Limited resources: New Zealand has limited resources compared to other developed countries. This makes it challenging for start-ups to access the necessary infrastructure, talent, and capital for growth. 4. Lack of diversity: The start-up ecosystem in New Zealand lacks diversity, particularly in terms of gender and ethnicity. This limits the range of ideas and perspectives that are brought to the table. 5. Brain drain: New Zealand's highly skilled workforce is tempted to seek opportunities overseas, which makes it challenging for start-ups to retain talent. 77 Opportunities: 1. Growing demand for sustainable solutions: New Zealand strongly focuses on sustainability, and there is a growing demand for start-ups that provide sustainable solutions across various industries. 2. Emerging technologies: New Zealand has the potential to become a hub for emerging technologies, such as artificial intelligence, blockchain, and cybersecurity. 3. Access to Asia-Pacific markets: New Zealand is well-positioned to access the growing Asia-Pacific market, representing a significant growth opportunity for start-ups. 4. Government support for innovation: The New Zealand government is committed to supporting innovation and entrepreneurship, and this presents a range of opportunities for start-ups to access funding and support. 5. Collaboration with established companies: New Zealand has many companies willing to collaborate with start-ups. This gives start-ups access to resources, expertise, and networks that help them grow and expand. Threats: 1. Economic uncertainty: The global economic climate is uncertain, and this impact the ability of start-ups to access funding and grow. 2. Competition from other markets: New Zealand is one of many countries home to a thriving start-up ecosystem, and there is intense competition from other markets, particularly in Asia-Pacific. 3. Regulatory challenges: Regulatory challenges are a significant entry barrier for start-ups, particularly in highly regulated industries such as healthcare and finance. 4. Cybersecurity risks: As start-ups become increasingly reliant on technology, they become more vulnerable to cybersecurity risks. This impact the ability of start-ups to secure funding and retain customers. 5. Infrastructure challenges: New Zealand's infrastructure was less developed than other countries, particularly in digital infrastructure. This makes it challenging for start-ups to access the resources they need to grow and expand. 78 ECOSYSTEM MARKETS New Zealand has a vibrant and growing start-up ecosystem, with numerous markets playing a critical role in supporting the growth and success of start-ups. These markets include distribution networks, retail networks, and marketing networks, which provide start-ups with access to customers, distribution channels, and marketing channels that otherwise be difficult to reach. By leveraging these networks, start-ups accelerate their growth and reach more customers, ultimately leading to greater success in the highly competitive world of entrepreneurship. In this response, we will explore the various markets within the start-up ecosystem, providing examples of each to give a comprehensive overview of the resources and support available to start-ups in the country. Distribution networks Distribution networks refer to the channels through which products and services are distributed to customers. In an ecosystem, distribution networks include logistics and delivery companies and online marketplaces that connect businesses with customers. Examples of distribution networks in New Zealand include: • NZ Post: NZ Post is a state-owned enterprise that provides courier and logistics services to businesses and individuals nationwide. Start-ups partner with NZ Post to access its extensive network and reach more customers. • Freightways: Freightways is a logistics and courier company that provides various services, including courier, express parcel, and mail services. Start-ups use Freightways to transport their products and reach their customers. • Trade Me: Trade Me is an online marketplace that connects buyers and sellers. Start-ups use Trade Me to list their products to reach a large customer base. Retail networks Retail networks refer to the channels through which products are sold to customers. Retail networks include physical storefronts as well as online marketplaces. Examples of retail networks include: • Farmers: Farmers is a department store chain that operates throughout the country. Start-ups partner with Farmers to get their products on the shelves and reach a wider customer base. • The Market: The Market is an online marketplace connecting buyers and sellers nationwide. Start-ups use The Market to list their products and reach customers nationwide. 79 • Mighty Ape: Mighty Ape is an online retailer that sells a wide range of products, including electronics, books, and toys. Start-ups list their products on Mighty Ape and reach a large customer base. • The Warehouse Group: The Warehouse Group is New Zealand's largest retail group and includes The Warehouse, Warehouse Stationery, Noel Leeming, Torpedo7, and 1-day.co.nz. The Warehouse is a discount department store that offers a wide range of products, including clothing, electronics, homewares, and groceries. These are just a few examples of the many retail networks operating in New Zealand. Other notable retailers include Zara, H&M, Kmart, and Bunnings Warehouse. Marketing networks Through marketing networks, start-ups promote their products and services to customers. In the New Zealand start-up ecosystem, marketing networks include digital marketing agencies, incubators, and accelerator programs. Examples of marketing networks include: 1. WPP AUNZ: WPP AUNZ is a marketing communications group that offers a range of services, including advertising, public relations, and digital marketing. The company operates several agencies in New Zealand, including Ogilvy, Y&R, and Wunderman Thompson. 2. Dentsu Aegis Network: Dentsu Aegis Network is a global marketing network that operates several agencies in New Zealand, including Carat, Vizeum, and iProspect. The company offers media planning, buying, digital marketing, and creative services. 3. FCB: FCB is an advertising agency in New Zealand and Australia. The company offers various services, including creative development, media planning and buying, and digital marketing. 4. Saatchi & Saatchi: Saatchi & Saatchi is a global advertising agency in New Zealand. The company offers various services, including creative development, media planning and buying, and digital marketing. 5. Young & Rubicam: Young & Rubicam is a global advertising agency in New Zealand under the name Y&R. The company offers various services, including creative development, media planning and buying, and digital marketing. 80 6. WIPRO is a global New Zealand information technology, consulting, and business process Services Company. The company offers various digital marketing services, including search engine optimization, social media, and email marketing. These are just a few examples of the many marketing networks operating in New Zealand. Other notable marketing networks include ZenithOptimedia, PHD Media, and OMD. EXISTING POLICIES Federal policies affecting the industry The New Zealand government's policies to support the growth and success of businesses are crucial to the country's economic growth and development. One of the government's policies to support businesses is the Research and Development Tax Incentive, which provides tax credits to businesses that invest in research and development. The incentive provides a 15% tax credit for eligible R&D expenditure, with a $120 million annual cap. This policy encourages more companies to invest in R&D, leading to innovation and growth in the start-up ecosystem. This policy is intended to encourage businesses to invest in innovation and develop new products and services, which help to drive economic growth and create new jobs. The Provincial Growth Fund is another policy implemented to support economic development in regional areas. This policy provides funding to support infrastructure projects, business development initiatives, and other economic development projects in regions that are experiencing economic challenges. This policy is intended to help support regional businesses and communities and to promote economic development in areas outside of major cities. The Small Business Cashflow Scheme is a policy implemented in response to the COVID-19 pandemic, which has significantly impacted businesses in New Zealand. This policy provides interest-free loans to small businesses affected by the pandemic, intending to help to support these businesses through a difficult period and to help them maintain their operations. Similarly, the Business Finance Guarantee Scheme is another policy implemented in response to the COVID-19 pandemic. This policy provides government-backed loans to businesses affected by the pandemic to help them maintain their operations and support their recovery. 81 Start-up Visa: In 2018, New Zealand introduced a new visa category for entrepreneurs wanting to establish a business there. The Start-up Visa allows entrepreneurs to apply for a visa to start or buy a business in the country and provides a pathway to permanent residency. You must be able to make a NZ$100,000 capital investment. The minimum investment amount required may be waived if your business is in science, ICT or another high-value export sector, or your business shows a high level of innovation or short-term growth prospects. If one has a spouse and dependent children may be included in the application. Once the visa application is approved, you will be required to start your business and make the capital investment within the first 12 months. This visa is valid for 12 months in the start-up stage of your business, extendable another 24 months once you provide proof that you’ve set-up your business as detailed in the business plan. After 3 years you may be eligible for an Entrepreneur Resident Visa, which is a Permanent Residence permit. This permit will allow you to live and work indefinitely in New Zealand. To be granted permanent residency you must have met the conditions of the Work visa, still be doing business in the country, have created jobs and demonstrated commitment to living in New Zealand. After 5 years of residency (temporary or permanent), you may be eligible for citizenship. You may be required to show ties to the country, such as a permanent home, attend an interview and have knowledge of New Zealand’s history, culture and values. Innovation Park: The government has established several Innovation Parks around the country, such as Waikato, to provide a supportive environment for start-ups and small businesses. These parks offer shared office spaces, business mentoring, and access to funding and networking opportunities. In addition to federal policies, there are also state and local policies in New Zealand that significantly impact the business industry. Some of these policies include: 1. Planning and zoning regulations affect where businesses can operate and how they use their property. The local government sets these regulations, varying significantly from one area to another. For example, some areas have strict rules about the types of businesses allowed in certain areas, while others have more relaxed regulations. These regulations significantly impact the cost and ease of starting and operating a business. 2. Business licensing and registration requirements: Business licensing and registration requirements vary by state and local government and affect the cost and ease of starting and operating a business. These requirements include obtaining a business license, registering a 82 business name, and obtaining necessary permits. Depending on the location and industry, these requirements are extensive and add significant costs to starting a new business. 3. Local economic development initiatives: Local economic development initiatives provide funding and support for local businesses. These initiatives are often implemented by local government, including small business grants, tax incentives, and training and support programs. These initiatives are intended to help support local businesses and to encourage economic growth in the area. 4. Infrastructure investments: Infrastructure investments, such as transportation and broadband projects, improve access to markets and customers for businesses in certain areas. For example, suppose a new highway or public transit system is built in a particular area. In that case, it becomes easier for businesses to transport goods and for customers to access those businesses. Similarly, if the broadband infrastructure is improved in a particular area, it becomes easier for businesses to access online markets and customers. Policy Review for the Ecosystem Policies demonstrate a commitment by the New Zealand government to support the growth and success of businesses in the country. However, it is important to conduct a comprehensive policy review to assess the effectiveness of these policies and identify any areas for improvement. Additionally, it is important to ensure that the policies are implemented fairly and transparently and do not inadvertently favour certain industries or regions over others. 1. The Research and Development Tax Incentive: This policy encourages innovation and entrepreneurship in New Zealand. By providing tax credits to businesses that invest in R & D, the policy could stimulate research and development activities in the country, which could lead to new products or services. However, it is important to ensure that the policy is accessible to businesses of all sizes and that the eligibility criteria are clear and transparent. 2. The Provincial Growth Fund: This policy could positively impact the New Zealand start-up ecosystem by supporting economic development in regional areas. By funding businesses and other organizations in these areas, the policy could help stimulate economic growth and job creation, particularly in areas that have been overlooked in the past. However, ensuring that the funding is allocated fairly and transparently and that the policy does not inadvertently favour certain regions or industries is important. 83 3. The Small Business Cash flow Scheme: This policy is a step towards supporting small businesses affected by the COVID-19 pandemic. Providing interest-free loans, the policy could help businesses weather the pandemic's economic impacts and remain operational. However, it is important to ensure that the loans are accessible to businesses of all sizes and that the application process is streamlined and user-friendly. 4. The Business Finance Guarantee Scheme: This policy could help businesses affected by the COVID-19 pandemic access the capital they need to survive a difficult economic period. However, it is important to ensure that the loans are distributed fairly and transparently and that the eligibility criteria are clear and accessible to businesses of all sizes. 5. Planning and zoning regulations: While these regulations are necessary to ensure businesses operate safely and efficiently, they pose challenges for start-ups. In some cases, regulations restrict where businesses operate or how they use their property, increasing costs and limiting growth opportunities. Therefore, it is important for the government to regularly review and update these regulations to ensure that they are streamlined and support innovation and entrepreneurship. 6. Business licensing and registration requirements: Similar to planning and zoning regulations, these requirements also pose challenges for start-ups, particularly in costs and bureaucracy. However, it is important to balance the need for regulation with the need to support small businesses. The government could review these requirements to identify areas where they can be streamlined and made more accessible to start-ups. 7. Local economic development initiatives: These initiatives provide valuable support to startups, particularly in areas with limited access to capital or resources. Provide funding and other forms of support. These initiatives help to stimulate economic growth and job creation. However, it is important to ensure that these initiatives are transparently administered and accessible to all businesses, regardless of location or industry. 8. Infrastructure investments are particularly important for start-ups, as they improve access to markets and customers. For example, broadband projects help ensure start-ups access fast and reliable internet, while transportation projects improve access to key supply chains or markets. The government needs to prioritize infrastructure investments that will have the greatest impact on the start-up ecosystem, particularly in areas with limited access to infrastructure. 84 DYNAMICS IN THE NEW ZEALAND ECOSYSTEM New Zealand has been experiencing a surge in startup activity in recent years, with a growing number of entrepreneurs launching innovative companies across a variety of industries. The New Zealand government has also been actively supporting the startup ecosystem through initiatives such as the StartUp NZ program, which provides funding, mentorship, and other resources to earlystage companies. Other ecosystem partners include Mahitahi, soda, Northland Inc, Callaghan Innovation, Development west coast, and GridAKl. Profiles Mahitahi Mahitahi is a New Zealand-based startup that was founded in 2020 by a team of healthcare professionals and entrepreneurs with extensive experience in the healthcare industry. The company's founders recognized the need for a more integrated approach to healthcare delivery and set out to create a platform that would streamline communication and collaboration between patients, healthcare providers, and insurers. The Mahitahi platform is built on cutting-edge technology, including artificial intelligence and machine learning, to provide personalized and efficient healthcare services. The platform offers a range of services, including virtual consultations, remote monitoring, and digital health records. These services enable patients to access healthcare services remotely, reducing the need for inperson appointments and providing more convenient and cost-effective care. Mahitahi has also been committed to addressing some of the most pressing challenges facing the healthcare industry. Their focus on sustainability and social responsibility is reflected in their efforts to improve healthcare access and outcomes, particularly for underserved communities. They work closely with healthcare providers, insurers, and other stakeholders to identify and address the most significant barriers to care. Overall, Mahitahi is a dynamic and innovative company that is transforming the healthcare industry in New Zealand and beyond. Their commitment to providing high-quality, accessible, and costeffective healthcare services makes them a promising player in the healthcare industry. 85 Soda Soda is a popular carbonated soft drink that has been a part of the beverage industry for over a century. It is typically made with carbonated water, high-fructose corn syrup, artificial flavours, and caffeine, although there are variations that use natural sweeteners or are caffeine-free. Soda has become a ubiquitous beverage in many parts of the world and is often associated with social gatherings and celebrations. However, it has also been a subject of controversy due to concerns about its impact on health. Regular consumption of soda has been linked to a range of health issues, including obesity, diabetes, and dental problems. In recent years, there has been a growing trend toward healthier beverage options, with consumers increasingly seeking alternatives to soda. As a result, many beverage companies have begun to invest in the development of new, healthier products, such as sparkling water, flavoured seltzer, and natural fruit juices. Despite the controversy surrounding soda, it remains a popular beverage choice for many people around the world. It is long history and cultural significance makes it an interesting topic for those interested in the beverage industry, health and wellness, and consumer trends. Northland Inc Regional development agencies are an important part of the New Zealand economy. They provide a range of services to local businesses, including business advice, funding and support for regional projects. As a regional development agency, Northland Inc. helps to spur economic growth in the region by taking on the role of coordinating the local economy. They assist local and international investors, transform public infrastructure and promote innovation in Taitokerau Northland. The agency focuses on making the region more attractive to investors, improving its residents’ quality of life and implementing sustainable economic growth. Northland Inc is a business and economic development agency based in the Northland region of New Zealand. Established in 2001, the agency is focused on driving economic growth and supporting business development in the Northland region. It is responsible for the planning, development and implementation of strategies to achieve a thriving economy in Taitokerau Northland. One of Northland Inc's key priorities is to support the development of high-growth businesses in the region. The organization helps local businesses succeed by providing business support services, funding, and creating networking opportunities. They offer a range of programs and initiatives to help businesses grow and thrive. These initiatives include business incubators, accelerators, export programs. They 86 also provide access to funding and investment opportunities through partnerships with investors and venture capital firms. Their focus on economic development and business growth is helping to create a thriving and sustainable economy in Northland, and their commitment to innovation and entrepreneurship is helping to drive New Zealand's wider economic growth. The organization carries out these duties; creating business opportunities through research and development or private sector investments and promoting education on the process of starting a business. Additionally, it supports innovation and entrepreneurship through, The Orchard, a business incubator. Overall, Northland Inc is a valuable resource for businesses and entrepreneurs looking to start or grow a business in the Northland region. Northland Inc is also involved in other regional economic development initiatives, such as promoting tourism, infrastructure development, and training people skills. This has helped promote Northland as an attractive tourist destination and investment hub. It has partnered with the local government, iwi (Maori tribes), and community organizations to support the economic and social welfare of the Taitokerau region. Location: level 1, 35 Walton Street, Whangārei 0110, New Zealand Website: https://www.northlandnz.com/northland-inc/ Tel: - Development West Coast Development West Coast is a regional economic development agency based in the West Coast region of New Zealand. The agency was established in 2001 as a non-profit organization and is focused on promoting economic growth and supporting business development in the region. Development West Coast provides a range of services to businesses and entrepreneurs, including business planning and development support, mentoring, and access to funding opportunities. They also work closely with local councils, iwi, and other stakeholders to identify and pursue opportunities for economic development in the region. One of Development West Coast's key priorities is to support the development of a diverse and sustainable economy in the West Coast region. They are actively involved in promoting the region as a destination for tourism and investment and work to attract new businesses to the area. The agency is committed to fostering innovation and entrepreneurship in the West Coast region and provides a range of programs and initiatives to support business growth and development. This 87 includes business incubation programs, funding opportunities for startups, and support for export development. Overall, Development West Coast is a valuable resource for businesses and entrepreneurs in the West Coast region of New Zealand. Their focus on economic development and business growth is helping to create a sustainable and thriving economy in the region, and their commitment to innovation and entrepreneurship is helping to drive New Zealand's wider economic growth. New Zealand's strong entrepreneurial culture and supportive startup ecosystem are key drivers of startup activity in the country. The free flow of capital from local businesses to international investors makes it possible to establish a new branch of an enterprise and transfer assets to the home country without hindrance. With a relatively small population of 5,151,600 and size, New Zealand offers an advantage for startups by providing more direct access to customers and easier collaboration within the ecosystem. The country's infrastructure is well-developed, with a reliable telecommunications network, modern transportation systems, and a stable power grid. In terms of industries, technology and innovation have been particularly prominent, with a focus on areas such as fintech, agritech, and biotech. There is also a growing interest in sustainable and socially responsible business models, as well as a push to increase diversity and inclusion within the ecosystem. KEY DRIVERS AND CHALLENGES The startup ecosystem has consistently outperformed expectations in New Zealand, despite the country's relatively small size compared to other developed nations. In recent years, a number of successful companies have emerged, helping to establish New Zealand as a hub for innovation and entrepreneurship in the Asia-Pacific region. However, while the country's startup scene has shown impressive growth, it also faces a unique set of challenges. In this section, we will examine the key drivers and obstacles of New Zealand's startup ecosystem. Key drivers New Zealand's startup ecosystem is driven by a number of factors that have contributed to its impressive growth and success. In this section, we will explore the key drivers that have helped shape the country's entrepreneurial landscape. From government support to a culture of innovation, these factors have played a crucial role in the development of New Zealand's startup scene. 88 Government Support New Zealand's government has been a key driver in promoting entrepreneurship and innovation within the country's startup ecosystem. The government has implemented various programs and initiatives to support the growth of startups, such as the Innovation Partnership and Start-Up Visa. The Start-Up Visa, for instance, is a special visa category that allows entrepreneurs and startup founders to come to New Zealand to establish or invest in a new business. Additionally, the government supports a network of business incubators that provide support, resources, and mentoring to startups and entrepreneurs. One of the leading institutions in this regard is Callaghan Innovation, which provides a range of services and resources to startups, including funding, R&D support, and access to networks and expertise. Together, these government-led initiatives have helped to establish New Zealand as an attractive destination for entrepreneurs and startups looking to establish themselves in the Asia-Pacific region. Strong Talent Pool New Zealand's startup ecosystem benefits from a highly educated workforce and a strong talent pool in key fields such as technology, engineering, and design. This talent pool is nurtured through investments in education and training programs and a culture that encourages creativity and innovation. The country's education system is renowned for its focus on science, technology, engineering, and math (STEM) education. Additionally, the government has implemented programs to attract and retain skilled workers, such as the Skilled Migrant Category visa, which allows skilled workers to live and work in New Zealand. To support the growth of its startup ecosystem, New Zealand fosters a favourable environment through these means: Quality Education New Zealand has a world-class education system, with highly regarded universities and technical institutes that offer a range of programs in technology, engineering, and design. This education system has helped to produce a highly skilled and educated workforce that is well-suited to working in startups. For instance, The New Zealand Qualifications Authority (NZQA) is the government agency responsible for ensuring quality in the country's education system. The Times Higher Education World University Rankings ranks universities based on their overall performance in research, teaching, international outlook, and industry income. In the 2023 rankings, six New Zealand universities are included in the top 500: the University of Auckland, Auckland University of Technology, the University of Otago, Victoria University of Wellington, and Lincoln University. 89 Immigration policy To support the growth of its startup ecosystem, New Zealand has implemented an immigration policy that encourages skilled and talented individuals to come to the country. The government offers a range of visa programs that enable qualified individuals to live and work in New Zealand, including the Skilled Migrant Category and Essential Skills Work Visa. These programs have helped to attract top talent from around the world to the country's startup scene, fueling innovation and driving growth. By leveraging its immigration policy, New Zealand has been able to build a diverse and highly skilled workforce that is well-suited to the needs of its startup ecosystem. Supportive Culture New Zealand fosters a culture that is supportive and collaborative, with a focus on promoting creativity, innovation, and entrepreneurship. This culture plays a vital role in cultivating a thriving startup ecosystem that attracts talented individuals seeking a supportive and innovative environment. The country's emphasis on collaboration and support encourages entrepreneurs to share ideas and knowledge, collaborate on projects, and explore new opportunities. As a result, New Zealand has developed a reputation for being a hub for innovation and entrepreneurship, with a strong startup community that is continuously evolving and growing. Strong Industry Networks The startup ecosystem in New Zealand benefits greatly from the presence of strong industry networks like the New Zealand Software Association and the Technology Industry Association (NZTech). These networks play a key role in connecting startups with investors, mentors, and industry experts, providing them with resources and support that help them navigate the challenges of starting and growing a business. In addition, these networks contribute to the development of a strong talent pipeline that supports the growth of the industry. By leveraging these industry networks, the startup ecosystem in New Zealand has been able to foster an environment that encourages innovation, collaboration, and entrepreneurship. Growing Investment According to the recently published Startup Investment report by PwC NZ, the Angel Association of NZ, and NZ Growth Capital Partners (NZGCP), 2021 saw a significant surge in investments in New Zealand's startup ecosystem. The report highlights a 63% increase in total funds invested in startups, with early-stage investors providing $257.5m of funding for NZ startups, of which $146m (41%) was invested in deep tech startups. This reflects a shift in investor focus from software and services to deep tech, which solves problems related to climate change, sustainability, and health 90 inequality. This growing interest in startups focused on solving social problems is driven by a desire for purposeful impact in addition to commercial returns. The report suggests that New Zealand has strong potential to become a leader in climate tech and calls for a well-funded and mature startup ecosystem to weather the ongoing effects of the pandemic and political instability. The report concludes that the ecosystem has matured significantly and is better able to withstand turbulent conditions and continue on its growth trajectory. Managed by New Zealand Trade and Enterprise (NZTE), the New Zealand Government's international economic development agency, Invest New Zealand aims to develop a dynamic investment market that supports a productive, sustainable, and inclusive economy. The team at Invest New Zealand leverages their extensive networks, commercial expertise, and in-depth knowledge of New Zealand to facilitate investment and foster opportunities. Operating independently and impartially, Invest New Zealand prioritizes value-added investments that benefit investors, businesses, and New Zealand as a whole. Challenges New Zealand's ecosystem for startups and small businesses faces several challenges. These challenges include limited funding, brain drain, limited market size from the country’ population, a small stock market, and geographic isolation. Limited funding presents a hurdle for startups looking to raise capital and finance their ventures. Brain-drain leads to a shortage of skilled workers, while the small size of the market makes it challenging for businesses to scale and access investment opportunities. Additionally, geographic isolation makes it difficult to access global markets and compete with businesses in other countries. Limited Funding In New Zealand, investment in startups has been increasing. However, funding for startups remains limited, particularly for early-stage startups. As a result, many entrepreneurs may struggle to secure the necessary capital to finance their ventures. Brain Drain New Zealand struggles with retaining its top talent as many highly skilled individuals leave the country in search of better job opportunities abroad. This poses a significant challenge to the country's businesses and economy as it may lead to a shortage of skilled workers. 91 Limited Market Size New Zealand's market size is relatively small, which makes it challenging for businesses to scale and reach their target market. When considering the total addressable market (TAM), the potential customer base in New Zealand may be limited. Similarly, the serviceable addressable market (SAM) and the share of the market (SOM) available to businesses may also be restricted. This creates a barrier for startups and small businesses looking to grow and succeed in New Zealand's ecosystem. Geographic Isolation New Zealand's geographic isolation poses a significant challenge to businesses operating in the country, especially in terms of importing and exporting goods. New Zealand is a net exporter, with primary exports including agricultural products, forestry products, and minerals. The country's distance from major global markets leads to higher shipping and logistics costs. Furthermore, the recent global supply chain disruptions caused by the COVID-19 pandemic have impacted the cost of importing goods, resulting in delays, increased costs, and shortages of certain products. As a result, businesses in New Zealand face challenges in accessing necessary supplies and materials, particularly those that are imported. Overall, the New Zealand startup ecosystem is characterized by strong government support, a talented workforce, and a supportive culture, but it faces challenges related to limited funding, brain drain, market size, and geographic isolation. The New Zealand startup ecosystem is constantly evolving due to technological advancements, regulatory changes, and market shifts. Here are some examples of how these factors are impacting the ecosystem: Technological Advancements Technological advancements have had a significant impact on the New Zealand startup ecosystem, particularly in areas such as fintech, agritech, and biotech. These industries are leveraging new technologies, such as artificial intelligence, machine learning, and blockchain, to create innovative products and services. For example, Fintech startup Hnry uses AI and machine learning to automate tax obligations for self-employed and freelance workers, reducing the administrative burden and increasing compliance. In agritech, Robotics Plus uses robotics and automation to improve the efficiency and sustainability of orchard management, with their robots able to pick and pack fruit 92 autonomously. Additionally, advancements in cloud computing, mobile technology, and cybersecurity have enabled startups to operate more efficiently and securely, such as the mobile banking app, Hnry, which allows self-employed and freelance workers to manage their finances onthe-go while ensuring data security and privacy. Regulatory Changes Regulatory changes have both positive and negative impacts on the startup ecosystem. For example, recent changes to the New Zealand Government's R&D Tax Incentive Scheme have made it easier for startups to access funding for research and development. On the other hand, changes to immigration policies may make it more difficult for startups to attract and retain international talent. Market Shifts Market shifts greatly affect the startup ecosystem in New Zealand, causing changes in consumer preferences or economic conditions. One such example is the impact of the COVID-19 pandemic, which has accelerated the adoption of e-commerce and digital technologies, leading to increased demand for startups in these areas. Additionally, there has been a growing shift towards sustainable and socially responsible business models, which has created new opportunities for startups working in areas such as clean energy and circular economy. This shift towards sustainability has led to the emergence of startups such as Mint Innovation, which uses biotechnology to recover valuable metals from electronic waste and other sources, and MyCarbon, which helps businesses reduce their carbon footprint through carbon offsetting programs. Overall, technological advancements, regulatory changes, and market shifts are constantly reshaping the New Zealand startup ecosystem. Startups that adapt to these changes and leverage new opportunities will be well-positioned for success in the future. Impact Assessment The impact of technological advancements, regulatory changes, and market shifts on the New Zealand startup ecosystem has been both positive and negative. Technological advancements in areas such as fintech, agritech, and biotech have enabled startups to create innovative products and services using new technologies such as artificial intelligence, machine learning, and blockchain. However, regulatory changes, such as changes to immigration laws, have made it more difficult for startups to attract and retain top talent from overseas. Market shifts, such as the COVID-19 pandemic and the shift towards sustainable and socially responsible business models, have created both challenges and opportunities for startups in New Zealand. Overall, the startup ecosystem in 93 New Zealand continues to evolve and adapt to these changes, with some startups thriving while others face challenges. Here's an assessment of their impact: Technological Advancements Technological advancements have enabled startups to create innovative products and services, operate more efficiently, and reach a wider audience. This has led to increased competitiveness, growth, and job creation in the ecosystem," which means that technological advancements have brought many positive changes to the New Zealand startup ecosystem. Startups in various industries, such as fintech, agritech, and biotech, have been able to leverage new technologies such as artificial intelligence, machine learning, and blockchain to develop innovative products and services, which has led to increased competitiveness in the market. This has also allowed them to operate more efficiently and reach a wider audience, leading to growth and job creation in the ecosystem. Overall, technological advancements have had a positive impact on the New Zealand startup ecosystem, making it easier for startups to compete and succeed. The impact of technological advancements on the New Zealand startup ecosystem is both positive and negative. One of the negative impacts is increased competition, as more startups enter the market with similar products and services. This leads to pricing pressure and margin compression, making it difficult for startups to maintain profitability. Despite this challenge, startups are finding ways to differentiate themselves and offer unique value propositions to customers. Regulatory Changes Regulatory changes that provide support for startups, such as tax incentives or funding opportunities, have a positive impact on the ecosystem. These changes help startups access the resources they need to grow and develop their businesses. For instance, tax incentives provided by the New Zealand government have encouraged investment in startups, leading to increased funding and growth opportunities. The government's support for innovation and entrepreneurship has also resulted in the establishment of numerous startup incubators and accelerators that provide mentorship, resources, and networking opportunities for startups. These initiatives have contributed to the growth of the startup ecosystem, which has, in turn, led to job creation and economic development. Regulatory changes have a significant impact on the New Zealand startup ecosystem, and they are either positive or negative. Regulatory changes that provide support for startups, such as tax incentives or funding opportunities, have a positive impact on the ecosystem. These changes help startups access the resources they need to grow and develop their businesses. On the other hand, 94 regulatory changes that increase compliance costs or restrict access to resources, such as immigration policies that limit access to international talent, harm the ecosystem. These changes limit startups' ability to grow and compete in the global market. Therefore, it's important for policymakers to consider the potential impact of regulatory changes on the startup ecosystem and to create policies that promote innovation and growth. Market Shifts The positive impact of market shifts on the startup ecosystem is significant. As consumer preferences and economic conditions change, new opportunities arise for startups. One such example is the shift towards sustainable and socially responsible business models, which has created new opportunities for startups in areas such as clean energy and circular economy. These startups are able to cater to the growing demand for eco-friendly and sustainable products and services, which not only helps in preserving the environment but also presents a huge potential for growth and profitability. This has led to an increase in job creation and competitiveness in the ecosystem. Therefore, market shifts provide a positive impact by creating new avenues for growth and innovation in the startup ecosystem. Market shifts also create challenges for startups, as they may need to adapt their products or services to meet changing demands. This requires significant investments in research and development, which are difficult for startups to afford. For example, the shift towards digitalization has forced many traditional brick-and-mortar businesses to transition to online sales, creating new opportunities for startups that provide e-commerce solutions. However, startups operating in traditional industries may struggle to adapt to these changes and compete with more digitally-native startups. The figure below is an example of a market shift as a result of unemployment and employment in New Zealand. 95 Source: Iza PROMOTIONAL PLATFORMS Promotional platforms refer to various online and offline channels that businesses use to promote their products or services to a wider audience. These platforms range from traditional advertising channels like television, radio, and print media to digital platforms such as social media, search engines, and e-commerce marketplaces. In New Zealand, popular promotional platforms include Yellow Pages, which provides online and print directories for businesses, and social media platforms like Facebook and Instagram, which offer targeted advertising options. Crowdfunding platforms like PledgeMe and Kickstarter have also emerged as popular promotional platforms for startups, enabling them to raise funds and promote their products or services to a wider audience. PledgeMe PledgeMe, a crowdfunding platform, has benefited various startups in New Zealand, including Ethique and The Yeastie Boys. The Beastie Boys, craft beer pioneers, successfully raised over NZD 500,000 through PledgeMe to expand their product range and grow their business. The Ethique, a sustainable beauty and personal care products company, also raised half a million in funds on PledgeMe to expand its brewing capacity and launch new products. PledgeMe's platform has enabled these startups to access funding from a broad range of investors and supporters, helping them to grow their businesses and achieve their goals. As a crowdfunding platform, PledgeMe has enabled Ethique and The Yeastie Boys to raise funds from a diverse range of investors, allowing them to finance their growth and expand their market reach. Ethique, a sustainable beauty company, has successfully used PledgeMe to raise funds to 96 develop new products and expand its distribution channels. The Beastie Boys, a craft beer company, has also leveraged PledgeMe to raise funds for expansion, allowing them to increase production and distribution. Overall, PledgeMe has provided these companies with an alternative source of funding and has helped them gain a stronger foothold in their respective markets. Kickstarter Kickstarter is a popular crowdfunding platform that has helped many startups and creative projects in New Zealand grow. One example is a project called "The Urban Monk," which raised over $200,000 on Kickstarter to fund the production of a meditation cushion. Another example is "Lumos," a company that raised $ 800k on Kickstarter to develop a smart bicycle helmet that includes lights and turn signals. The success of these projects on Kickstarter has enabled these companies to bring their innovative products to market, gain wider recognition, and attract more funding from investors. Overall, Kickstarter has played a significant role in supporting the growth of the New Zealand startup ecosystem by providing a platform for entrepreneurs to showcase their ideas and attract funding from a global audience. Givealittle Givealittle is a New Zealand-based crowdfunding platform that allows individuals, organizations, and charities to raise funds for various causes, ranging from medical expenses to charitable donations. The platform has been instrumental in helping many startups and organizations in New Zealand to raise the necessary capital to grow and develop their businesses. One example of a company that has benefited from Givealittle is Rocket Lab, a spaceflight startup that raised funds through the platform in its early stages. Givealittle helped Rocket Lab to secure the necessary capital to build and launch its Electron rocket, which has since become a major player in the commercial space industry. Another example is Eat My Lunch, a social enterprise that provides healthy lunches to school children in need. Givealittle helped Eat My Lunch to raise funds to expand its operations and provide more meals to children in need. Givealittle has also been used to support various charitable causes, including disaster relief efforts, medical treatments, and community projects. The platform has enabled individuals and organizations to rally support for their causes and make a positive impact on their communities. Givealittle has also been used to support various community projects, such as the restoration of heritage sites and the development of community gardens. For example, the Nelson School of 97 Music used the platform to raise funds for the restoration of its historic building, which was damaged in an earthquake. The campaign was a success, raising over NZ$60,000 and enabling the school to reopen its doors to the community. Overall, Givealittle has played a significant role in supporting the growth and development of startups, social enterprises, and charitable causes in New Zealand. By providing a platform for individuals and organizations to raise funds and rally support for their causes, Givealittle has helped to create a more vibrant and connected community. ECOSYSTEM EVOLUTION Ecosystems evolve and change in response to various factors, such as technological advancements, regulatory changes, market shifts, and cultural trends. The evolution of an ecosystem has significant impacts on the businesses and individuals operating within it, creating new opportunities for growth and development while also posing challenges and risks. Understanding the dynamics of ecosystem evolution is crucial for startups and businesses seeking to thrive and succeed in today's fast-changing world. Here are some of the key ways in which the ecosystem has evolved: 1. Increase in startups: The number of startups in New Zealand has grown significantly in recent years, with a thriving entrepreneurial culture emerging across the country. This is partly due to the availability of government funding and support, as well as a growing number of incubators and accelerators. 98 Source: Startup Investment New Zealand 2. Expansion of incubators and accelerators: The number of incubators and accelerators in New Zealand has grown significantly in recent years, with a range of programs available for startups at various stages of development. This has helped to provide startups with the resources and support they need to succeed. 99 Source: Holon IQ 3. Government support: The New Zealand government has played a key role in supporting the growth of the startup ecosystem with a range of initiatives and programs designed to encourage entrepreneurship and innovation. This includes funding for research and development, grants for startups, and support for incubators and accelerators. Source: Stats 4. Increased investment: There has been a significant increase in the amount of investment flowing into the New Zealand startup ecosystem, with a range of local and international investors taking an interest in the country's startups. This has helped to provide startups with the funding they need to grow and scale their businesses. 100 Source: Ceicdata 5. The emergence of new industries: The New Zealand startup ecosystem has seen the emergence of new industries in recent years, including agtech, fintech, and edtech. This has helped to diversify the ecosystem and provide startups with new opportunities for growth and innovation. 6. Focus on sustainability: There has been a growing focus on sustainability in the New Zealand startup ecosystem, with a range of startups focused on developing environmentally friendly technologies and solutions, i.e., Futurity Bio-Ventures, Mint Innovation, CH4 Global, Ligar, and Biotelliga. This has helped to position New Zealand as a leader in sustainable innovation and attract investment from impact investors and socially responsible funds. Overall, the New Zealand startup ecosystem has evolved significantly in the past 14 years, with a growing number of startups, incubators, accelerators, investors, and support organizations emerging across the country. This has created a dynamic and thriving ecosystem that is well-positioned for continued growth and success in the years ahead. 101 Profiles Futurity Bio-Ventures Futurity Bio-Ventures is a New Zealand-based venture capital firm that focuses on investing in early-stage life science companies. The firm was founded in 2018 by experienced life science entrepreneurs and investors Dr Sarah Kummerfeld and Dr Aaron Best. Futurity Bio-Ventures aims to bridge the gap between academic research and commercialization by providing funding, mentorship, and expertise to help startups develop their technologies and bring them to market. The firm's investment focus is on companies working in the areas of therapeutics, diagnostics, and medical devices, with a particular emphasis on those addressing unmet medical needs. Futurity Bio-Ventures invests in companies at various stages of development, from seed to early-stage, and typically provides funding in the range of NZD 500,000 to NZD 5 million. Futurity Bio-Ventures is also the name of a cleantech startup founded in 2018 with headquarters in Gisborne, New Zealand. The startup has a mission to reduce the world's dependence on oil and has developed technology that enables it to convert New Zealand pine into its building blocks, such as lignins, cellulose, and hemicellulose. These building blocks are used to replace oil derivatives in various products such as packaging, paper, paints, concrete, and more. Futurity Bio-Ventures is currently constructing a $150 million advanced commercial biorefinery, which will be the first of several biorefineries planned to be established in New Zealand. The company is planning to enter capital raising to scale up its technology. Mint Innovations Mint Innovation, which was established in 2016 and had its headquarters in Auckland, is an ewaste recycling company that has developed an innovative solution to recover precious metals like gold, copper, and lithium from discarded electronics such as computers, mobile phones, and televisions. Their sustainable technology uses chemicals and microorganisms to recover more than 95 percent of metals in an eco-friendly way, saving 91 percent of the carbon that would otherwise be produced by conventional mining and smelting processes. The company's ultimate goal is to establish a biorefinery in every major city globally, which would provide a low-cost and sustainable method of recovering metals from urban mines, which represent an abundant source of valuable metals. According to Mint, over $80 billion worth of valuable metals is abandoned in such mines every year. In recent news, Mint opened its first large-scale biorefinery, the world's first ewaste biorefinery, in Sydney, Australia, with the capacity to recycle 3,000 tons of e-waste. 102 CH4 Global CH4 Global is a cleantech startup that was established in 2019 and is based in Wellington, New Zealand. This aquaculture company is dedicated to achieving zero methane agriculture with the use of Asparagopsis, a type of seaweed. CH4 Global produces feed supplements for cows and other ruminants by cultivating and processing Asparagopsis. The compounds in the seaweed interfere with the methane-producing gut microbes, resulting in a reduction of up to 90 percent of methane emissions. CH4 Global plans to launch its first commercial product for beef feedlots in 2022 and is also developing formulations for other ruminants, including sheep, goats, and deer. The company's goal is to address the climate crisis by targeting the world's domestic cattle population of 1.5 billion, which accounts for one-sixth of global greenhouse gas emissions. With its innovative technology and dedication to sustainability, CH4 Global is making significant strides in creating a more environmentally friendly agricultural industry. Ligar Ligar is a Hamilton-based company that was established in 2013. It specializes in the creation of molecularly imprinted polymers (MIPs) that selectively remove contaminants like pollutants, heavy metals, and pesticides from a solution or extract valuable molecules used in nutraceuticals, medicines, flavourings, and aromas. The shape of MIPs has been customized to match the target molecule, allowing them to specifically bind to the target while leaving other molecules untouched. By utilizing a "lock and key" mechanism, the polymers extract the desired or problematic molecules while ignoring the rest. Currently, Ligar is focused on gaining regulatory approval from organizations like the European Food Safety Authority and the U.S. Food and Drug Administration for its polymers. Additionally, the company is continuously developing and testing new MIPs while also working to simplify the technology. Biotelliga Biotelliga, established in 2009 and located in Auckland, is an agricultural biotechnology company that concentrates on creating organic crop protection measures that will minimize the harmful effects of synthetic pesticides on the environment and human health while boosting crop yields. The company's solutions are based on the study of fungal biology and entail using biomolecules derived from fungi to control pests and diseases by applying them to soil or plant foliage. In 103 addition, Biotelliga provides seed-based solutions that involve treating seeds with protective biomolecules or bioprotective organisms to safeguard crops from environmental pressures. FINANCIAL SOURCES New Zealand offers a range of financial sources to support its ecosystem. These financial sources include grants, loans, equity investment, crowdfunding, and government funding. The New Zealand government provides a range of grants for research and development, innovation, and exporting, as well as loans through the Regional Business Partner Network. In addition, there are numerous venture capital firms, angel investors, and crowdfunding platforms that provide equity investment for startups and small businesses. The government also provides funding and support for social enterprises and community organizations through initiatives like the Community Finance Partnership and the Community Enterprise Fund. Overall, the availability of various financial sources in New Zealand provides entrepreneurs and businesses with a range of options to fund their ventures and support their growth. Public funds refer to money that comes from the government or other public institutions and is allocated for public purposes, such as infrastructure projects, education, healthcare, social welfare programs, and research and development. In the context of startups, public funds are used to support early-stage companies with grants, loans, or equity investments. Governments around the world have recognized the importance of startups as drivers of innovation and economic growth and have created programs to provide financial support to these companies. In New Zealand, public funds are available through government agencies such as Callaghan Innovation and New Zealand Trade and Enterprise, as well as through research institutes and universities. Source: Stats 104 Private sector funds are a critical source of funding for startups in New Zealand. Angel investors, venture capitalists, and other private investors provide funding to startups in exchange for equity in the company. Angel investors are typically high-net-worth individuals who invest their own money in early-stage startups. Venture capitalists, on the other hand, are institutional investors who manage funds from institutional investors and invest in startups that have the potential for high growth. Other private investors normally include friends and family, crowdfunding platforms, and private equity firms. These investors are either local or international, and they often bring not only capital but also valuable expertise and networks to help startups grow and succeed. Public sector funds in New Zealand play a crucial role in supporting startups in their early stages of development. The government provides grants and subsidies through agencies such as Callaghan Innovation, New Zealand Trade and Enterprise, and the Ministry of Business, Innovation, and Employment. These funds aim to promote innovation, drive economic growth, and create new job opportunities in the country. Startups access public sector funds to support their research and development, commercialization, and international expansion efforts. These funds are an essential part of the New Zealand startup ecosystem, helping to turn innovative ideas into successful businesses. Additionally, local angel investor networks and venture capital firms also have a source of funding for startups. These local sources of funding offer advantages such as familiarity with the local market and the ability to provide hands-on support to startups. They may also have a better understanding of the unique challenges and opportunities that startups in their area face, allowing them to provide more targeted support. 105 Source: Angel Association International sources of funding for New Zealand startups play an important role in supporting the growth of the country's startup ecosystem. These sources include international investors and venture capital firms who are attracted to the innovative ideas and potential of New Zealand startups. Additionally, New Zealand startups have access to international crowdfunding platforms such as Kickstarter and Indiegogo, which allow them to raise funds from a global audience. These platforms offer an opportunity for startups to showcase their products or services to a wider market and attract potential investors who may be interested in supporting their growth. Callaghan Innovation Growth Grants are an initiative by the New Zealand government's Callaghan Innovation Agency to support the growth and innovation of businesses in the country. The grants are available to eligible businesses to help fund their research and development projects, with the aim of creating significant growth opportunities. By providing funding for these projects, Callaghan Innovation hopes to support businesses in developing new products and services, expanding their markets, and increasing their competitiveness. The grants are designed to encourage businesses to invest in R&D and to help them bring their ideas to market. 106 New Zealand Trade and Enterprise is a government agency that provides support to businesses operating in international markets. The agency offers a range of grants and funding programs to help startups and other businesses expand into new markets. These grants include the International Growth Fund, which supports businesses to enter or expand into overseas markets, and the Capability Development Voucher scheme, which provides funding for businesses to access training and advice on exporting. By providing this support, New Zealand Trade and Enterprise aims to help businesses achieve growth and success on a global scale. The KiwiNet Emerging Innovator Fund is a funding opportunity for researchers and entrepreneurs who are working on innovative technologies with commercial potential. This fund is offered by KiwiNet, which is a consortium of universities and research institutions in New Zealand. The Emerging Innovator Fund provides early-stage funding to help these innovators develop their technologies and bring them to market. The Seed Co-investment Fund (SCIF) is managed by the New Zealand Growth Capital Partners NZGCP (formerly NZVIF), and is an equity investment fund that invests in small to medium sized businesses at the seed and start-up stage of development which have strong potential for high growth. SCIF was established to invest alongside accredited investment partners in qualifying deals. To be eligible for funds from SCIF, the company must be a seed-stage or start-up in New Zealand. All of NZGCP’s investments are made either through privately managed venture capital funds, or alongside experienced angel investors. They have two funds: a NZ$50 million seed coinvestment fund and a NZ$195m venture capital fund of funds. In the seed fund, they have been investing alongside selected angel groups since 2006 and perform their own due diligence of each deal. On the fund of funds side, they invest up to NZ$25m into new venture funds. Since their founding in 2002 they have invested in over 250 companies. In 2019, the Government gave the New Zealand Venture Investment Fund the green light to increase from NZ$8 million to NZ$12 million the amount it is able to invest annually alongside early stage private sector investors through the Seed Co‐investment Fund (SCIF). Enterprise Angels is a membership-based investment network and a wider community of nationwide wholesale investors. Their objective is to connect experienced early stage investors with entrepreneurs and innovators. Enterprise Angels was formed in 2008. Since that time Enterprise Angels has evolved into one of the largest, most active and best resourced Angel groups in the country with over 200 members, who have a wide range of expertise. 107 Enterprise Angels is a unique model of early stage investing in New Zealand having a full-time team and a deep collection of qualified investors to assist entrepreneurs in obtaining the resources they need – funds as well as skills, expertise and connections. The model for investing in early stage companies is an efficient capital raising process for entrepreneurs and investors adding real value as well as capital to investee companies. Enterprise Angels is a member of the Angel Association of New Zealand (AANZ), a network of more than a dozen angel groups and funds throughout the country. They promote and facilitate investor education by providing education events, active learning opportunities on actual deals and best practice procedures. Community organizations play an important role in supporting startups in New Zealand by providing grants to entrepreneurs with innovative ideas. The New Zealand Entrepreneurship Ecosystem offers grants to startups working on social and environmental challenges, while the Māori Innovation Fund provides funding to Māori entrepreneurs who are developing innovative products and services. These grants not only provide financial support but also offer access to valuable networks and resources. RESEARCH AND DEVELOPMENT Research and development have been a cornerstone for startup activity in numerous industries. Through innovation and the creation of new products and services, startups gain a competitive edge in the market. Research and development (R&D) play a vital role in this process, enabling startups to explore new ideas and technologies that lead to breakthroughs in their respective industries. Whether it's in the fields of biotechnology, engineering, or technology, startups that invest in R&D position themselves for long-term success, this essay will explore the importance of R&D for startups and how it drives innovation in various industries. Public Research Centers In New Zealand's startup ecosystem, public research centres are crucial contributors to the development of innovative products and technologies. These centres specialize in diverse fields such as biotechnology, health, engineering, and environmental sciences, providing technical expertise, facilities, and funding support to startups. Their contributions have been instrumental in creating a dynamic and thriving startup ecosystem in the country. This report will highlight some examples of public research centres in New Zealand and their impact on the startup landscape. 108 Callaghan Innovation is a leading government agency in New Zealand that plays a vital role in supporting businesses of all sizes in research and development (R&D). It boasts a range of state-ofthe-art facilities and expertise in cutting-edge fields such as robotics, artificial intelligence, and materials science. By offering a range of services such as R&D funding, technical expertise, and access to equipment and facilities, Callaghan Innovation provides the essential support needed for startups and businesses to develop new and innovative products and technologies. With its strong commitment to driving innovation and R&D in New Zealand, Callaghan Innovation is a crucial component of the country's startup ecosystem. The Institute of Environmental Science and Research (ESR) is one of the Crown Research Institutes in New Zealand. Its primary focus is on environmental science and public health, and it offers a wide range of services, including environmental testing, forensic science, and epidemiology. ESR plays a significant role in supporting startups and businesses in various industries by providing testing and analytical services that help in the development and commercialization of new products. Its contributions to the startup ecosystem have helped to drive innovation in a range of industries, including food and beverage, agriculture, and health. The Malaghan Institute is a renowned biomedical research institute in New Zealand, committed to developing new treatments and cures for various diseases, including cancer, asthma, and allergies. The institute has a distinguished record of translational research that aims to bring new therapies and technologies from the laboratory to the clinic, benefiting patients and society. Its efforts in the startup ecosystem have helped to drive innovation in the biotechnology and healthcare industries, advancing the country's research and development efforts. The MacDiarmid Institute for Advanced Materials and Nanotechnology is a collaborative research centre that plays a significant role in driving innovation in New Zealand. Bringing together researchers from various universities and research institutes, the MacDiarmid Institute specializes in advanced materials and nanotechnology. Its research efforts are geared towards developing new materials and technologies that are applied in various fields, from healthcare to energy. With its interdisciplinary approach, the MacDiarmid Institute has established itself as a leading research centre in New Zealand. The New Zealand Product Accelerator is a collaborative initiative that brings together universities, research institutes, and businesses to support the commercialization of new products and technologies. New Zealand Product Accelerator Connects NZ Industries with the best science and technology teams from across our network. They also assist companies with new product 109 development, problem-solving, and embedding technology innovation. They have broad capabilities from practical business skills and technology development and application, as well as deep capability in materials and manufacturing areas. Their technological capability is centered in six portfolios: Materials & Surfaces; Manufacturing Systems; Bioprocessing & Recycling; Design Innovation; Energy & Emissions; Sensing, Monitoring & Automation. Their Research Partners Consist of New Zealand and international companies, more than 100 researchers and practitioners from 9 research organisations and several government organisations. They include Callaghan Innovation, The University of Auckland, The University of Waikato, GNS science, Victoria University Wellington, University of Canterbury, Science for Technological Innovation (Sfti) National Science Challenge and many more. Plant & Food Research is a leading government-owned research institute that specializes in horticultural and agricultural research. Its mission is to support the growth of the New Zealand economy by developing innovative products and technologies that help to increase agricultural productivity and sustainability. Plant & Food Research collaborates with a range of businesses and organizations to drive research and development in the horticultural and agricultural sectors, offering expertise in areas such as plant breeding, food safety, and nutrition. Its contributions to the startup ecosystem have helped to drive innovation and growth in the New Zealand economy. These public research centres provide startups with access to world-class research facilities, expertise, and funding, which help to accelerate the development and commercialization of new products and technologies. Private Research Centers In addition to public research centres, New Zealand also has several private research centres that work with startups to develop new products and services. These private research centres provide startups with access to expertise and resources that help them to develop and commercialize their ideas more quickly. Here are some examples of private research centres in New Zealand: The New Zealand Institute for Plant and Food Research is a renowned private research organization that collaborates with startups to innovate and develop new products and technologies within the food and beverage sector. With its expertise in areas such as plant breeding, food safety, and nutrition, the institute has played a significant role in shaping the food industry in New Zealand. Working closely with startups provides a platform for emerging entrepreneurs to leverage the institute's resources and knowledge to bring their ideas to life. Through this collaboration, the 110 institute and startups have been able to create groundbreaking solutions that have revolutionized the food industry in New Zealand and beyond. The Ferrier Research Institute is a leading private research organization with a specific focus on carbohydrate chemistry and biomaterials. By partnering with startups across various industries, including health, pharmaceuticals, and agriculture, the institute has established itself as a key player in the commercialization of research. With a mission to develop innovative technologies, the Ferrier Research Institute has helped spin off several successful startups, making significant contributions to the New Zealand economy and furthering the advancement of science and technology. The Centre for Advanced Engineering is a leading private research organization that is dedicated to providing innovative engineering solutions to a wide range of industries. With a focus on construction, manufacturing, and energy, the centre partners with startups to develop cutting-edge technologies and products that help to solve complex engineering challenges. By combining expertise in engineering with a passion for innovation, the centre is driving progress in a rapidly evolving field and helping startups to achieve their goals. The Institute of Environmental Science and Research (ESR) is a Crown Research Institute that extends its services to businesses and startups in the private sector. ESR provides a wide range of environmental testing and forensic science services that help startups to develop and commercialize their products. The institute is dedicated to finding solutions to complex environmental challenges, and its expertise in areas such as microbiology, chemistry, and toxicology are valuable resources for startups seeking to develop sustainable and environmentally friendly products. The Robinson Research Institute's collaborations extend to a diverse range of industries beyond defence, aerospace, and energy. These include fields such as manufacturing, biotechnology, and electronics. Through its partnerships with startups, the institute has helped to develop new materials, manufacturing psrocesses, and medical technologies that have the potential to transform these industries. Its contributions to the startup ecosystem have not only driven innovation but have also helped to create new jobs and economic growth in these sectors. These private research centres provide startups with access to specialized expertise, facilities, and funding that help them to accelerate the development and commercialization of their products and technologies. 111 EXISTING PATENT REGISTRATION SERVICES Patents are essential to protecting the intellectual property rights of innovators and businesses, and patent registration services play a crucial role in this process. In New Zealand, the Intellectual Property Office of New Zealand (IPONZ) is responsible for granting and managing patents. While IPONZ provides a comprehensive service, there are also several private companies that offer patent registration services to assist businesses and individuals in navigating the complex patent process. This report will explore the existing patent registration services in New Zealand, including their services, fees, and customer satisfaction levels. 1. IPONZ (Intellectual Property Office of New Zealand): This is the government agency responsible for granting patents, trademarks, and design registrations in New Zealand. IPONZ offers a range of services to help startups protect their intellectual property, including online filing, patent searching, and examination. 2. AJ Park: This is a leading intellectual property law firm in New Zealand that specializes in patent registration services. They offer a full range of services, including patent searching, drafting, filing, and prosecution. 3. James & Wells: Another prominent intellectual property law firm in New Zealand that offers patent registration services. They have a team of experienced patent attorneys who assist startups with all aspects of the patent application process. 4. Catalyst Intellectual Property: Catalyst Intellectual Property is a New Zealand-based patent attorney firm that offers a range of services, including patent searching, drafting, filing, and prosecution. They specialize in helping startups protect their intellectual property and have a team of experts with technical backgrounds in a variety of fields. 5. Pipers: Pipers is a boutique intellectual property law firm in New Zealand that focuses exclusively on patent law. They offer a full range of services, including patent searching, drafting, filing, and prosecution, and they have a team of experienced patent attorneys who work closely with startups to protect their innovations. Process of Registering Innovations The process for registering innovations in New Zealand typically involves the following steps: 1. Conduct a patent search: Before filing a patent application, it's important to conduct a thorough search to ensure that the innovation is novel and not already patented by someone 112 else. IPONZ offers a free patent search service, or you use the services of a patent attorney or patent search firm. 2. Draft a patent application: Once you have determined that your innovation is novel, you need to draft a patent application that describes your invention in detail. This is a complex and technical process, so it's often best to work with a patent attorney who has experience in drafting patent applications. 3. File the patent application: Once you have a draft patent application, you fill it in with IPONZ. The application will be examined by a patent examiner, who will determine whether your innovation meets the requirements for patentability. 4. Prosecute the patent application: If the patent examiner has any objections or requests for amendments to your application, you will need to respond to these promptly. This process takes several years and involves multiple rounds of examination and amendments. 5. Grant of patent: If your patent application is successful, you will be granted a patent, which gives you exclusive rights to your invention for a set period (usually 20 years from the filing date). Overall, the patent registration process in New Zealand is complex and time-consuming, but it's an important step for startups looking to protect their intellectual property and gain a competitive advantage in the market. Access to exclusive rights granted for inventions In New Zealand, startups obtain exclusive rights to their inventions through the process of patent registration. A patent is a legal document that gives the patent holder the exclusive right to manufacture, use, and sell their invention for a set period (usually 20 years from the filing date). To obtain a patent, the startup must demonstrate that its invention is new, inventive, and useful. This means that the invention must be novel and not obvious to someone with ordinary skills in the relevant field. The startup must also provide a detailed description of the invention, along with any necessary drawings or diagrams. Once the patent is granted, the startup takes legal action against anyone who infringes on their patent rights. This means that they prevent others from making, using, selling, or importing the 113 invention without their permission. This gives the startup a significant competitive advantage in the market, as they are the only ones authorized to produce and sell the invention. It's important to note that obtaining a patent is a lengthy and expensive process, and not all inventions are eligible for patent protection. Startups should carefully consider the potential costs and benefits before pursuing a patent and may want to seek the advice of a patent attorney or other intellectual property expert. DIVERSITY, EQUALITY, AND INCLUSION New Zealand is known for being a relatively diverse, inclusive, and equal society. The country has a long history of welcoming immigrants and has a multicultural population, with over 160 ethnicities represented, according to the 2018 census report. There are six major ethnic groups in New Zealand: European, Māori, Pacific peoples, Asian, MELAA (Middle Eastern /Latin American /African), and 'Other ethnicity'. The government has also taken steps to promote diversity, equality, and inclusion (DEI) through policies and initiatives. One example of this is the Treaty of Waitangi, which was signed between the British Crown and Māori chiefs in 1840. The Treaty forms the basis of New Zealand's constitutional framework and acknowledges the rights of Māori as the indigenous people of the country. In addition, the New Zealand government has implemented policies to promote equal opportunities in education, employment, and other areas. For example, the Ministry for Women works to ensure that women have equal opportunities and are not discriminated against in the workplace. The government has also implemented policies to address the gender pay gap. However, like many countries, New Zealand still faces challenges in achieving full diversity, equality, and inclusion. Discrimination and prejudice still exist in some areas, particularly towards certain minority groups. The government and other organizations continue to work towards addressing these issues and promoting a more inclusive society. Overall, while New Zealand is not perfect, it has made significant progress in promoting diversity, equality, and inclusion and is generally considered to be a relatively welcoming and tolerant country. 114 Impact of DEI on the New Zealand Ecosystem The impact of DEI on the New Zealand ecosystem has been largely positive, with several benefits that contribute to the country's overall success and growth. Firstly, New Zealand's commitment to DEI has created a more welcoming and inclusive environment for immigrants and diverse communities. This has led to a more diverse and multicultural society, which has helped to broaden perspectives, foster innovation, and enhance creativity in various industries. Secondly, DEI has contributed to a more equal and fair society, which has helped to reduce socioeconomic disparities and improve social mobility. For example, the government's focus on closing the gender pay gap has helped to ensure that women are paid fairly for their work and have equal opportunities in the workforce. Thirdly, DEI has helped to create a more vibrant and dynamic business environment. Companies that promote DEI are more likely to attract and retain a diverse workforce, which in turn leads to a broader range of skills, experiences, and perspectives. This improves innovation, creativity, and decision-making, which helps businesses to succeed in an increasingly globalized world. However, there are still some challenges that need to be addressed to fully realize the potential of DEI in New Zealand. For example, some minority groups still face discrimination and barriers to access opportunities, which limit their ability to contribute to society and the economy. Addressing these challenges will require ongoing efforts by the government, businesses, and society as a whole. Overall, the impact of DEI on the New Zealand ecosystem has been positive, contributing to a more diverse, equal, and inclusive society that is better positioned to succeed in a rapidly changing world. Level of DEI Diversity, equity, and inclusion have become critical issues in today's world, and the business ecosystem in New Zealand is no exception. In recent years, there has been a growing recognition that diversity in all its forms brings significant benefits to businesses, including improved innovation, increased productivity, and enhanced competitiveness. However, despite this recognition, there are still significant gaps in the New Zealand business ecosystem when it comes to DEI. This report will explore potential areas where a focus on DEI could have the most significant impact on the New Zealand ecosystem. Some of these areas include: 115 Diversity Works New Zealand has recently introduced a national framework to evaluate workplace diversity, equity, and inclusion levels in New Zealand. The Aotearoa Inclusivity Matrix evaluates the development of DEI practices in seven critical areas, including leadership, diverse recruitment, bi-culturalism, and social impact. It helps organizations determine their current status across five levels, ranging from beginner to advanced, enabling them to establish a better standard of comparison throughout New Zealand. The Ministry of Education has provided a definition for inclusive education, which involves creating an environment where all children and young people are present, participating, learning, and feeling a sense of belonging. It also encompasses the creation and planning of educational spaces and activities to ensure that all learners participate and learn together while also recognizing and affirming their individual identities. For example, designing a classroom with flexible seating options, including bean bag chairs and standing desks, to cater to students with different learning needs and preferences. The teacher also incorporates diverse teaching materials that represent different cultures and perspectives, making all students feel seen and valued. Promoting social justice and reducing inequality is achieved by providing equal access to resources such as housing, healthcare, teaching and learning resources, and transportation. This ensures that everyone has an equal opportunity to access these resources, regardless of their socioeconomic status or other personal circumstances. By removing barriers to accessing these resources, individuals are able to better meet their basic needs and have a greater chance of achieving success and upward mobility in their lives. To promote a more inclusive and representative government, it is important to provide equal opportunities for political participation and ensure that everyone's voices are heard. CNN reported that New Zealand had taken a significant step in this direction by achieving gender and ethnic parity in its parliament. The country's 2020 election resulted in 49% women and 11% Maori parliament members, reflecting the diversity of New Zealand's population. This achievement demonstrates the impact of political representation in creating a more inclusive and diverse government. In the context of community building in New Zealand, the aim is to have all homes and buildings constructed in an environmentally friendly and sustainable manner, leading to healthier and happier communities. This vision requires strong leadership and concrete actions to transform the design and construction of homes, buildings, and communities. With over 700 member organizations and 116 companies, the group advocates for industry-wide and regulatory changes, provide reliable and independent certification and supports New Zealand's efforts towards a low-carbon future. To promote diversity and inclusivity, it is important to ensure that individuals from all backgrounds are represented in the media. This helps to counteract stereotypes and ensure that everyone is equally represented in the media. While New Zealand is relatively young compared to other nations, it boasts a rich and diverse arts and culture scene that is worth exploring. From Māori culture to performing arts, literature, museums, and art galleries, there is something for everyone, even the most ardent arts and culture enthusiasts. Māori The word "Māori" refers to the indigenous people of New Zealand and their language. The language and people are a mix of various Polynesian cultures and are said to have arrived in New Zealand over a thousand years ago. Māori are known for their distinctive traditional full-body and face tattoos. They are uniquely positioned in the world as a tribe that enjoys full legal rights. Despite experiencing cultural threats from racism and assimilation, Māori culture has experienced a significant revival and consolidation. They contribute to many aspects of New Zealand's economy, including tourism, but continue to suffer from social problems with disproportionately low levels of health and education and high crime and prison statistics. The success of maintaining Māori culture and identity in a country ruled by colonial rulers brings hope to a world where other indigenous people and very different ethnic groups can live together in harmony. Māori Leading Initiatives In recent years, there has been a significant improvement in understanding and awareness of Māori issues in New Zealand. Some have become more famous than others. It is important that people understand what the government seeks to develop through Māori policy initiatives. Treaty of Waitang Settlement The treaty granted sovereignty over New Zealand to the British royal family. The Māori were able to retain a rangatiratanga, or chieftain, over their resources while giving the crown first rights to land that was subsequently sold guaranteed Māori the rights and privileges of British citizens. The Treaty was signed by Māori Rangatira, or chiefs, and representatives of the British Crown in- Revitalization of Māori Language The 1987 Māori Language Act was passed with the Waitangi Court's recognition that the Māori language is a taonga, a treasure and a valuable possession under the Treaty of Waitangi. The law gave Tele Māori official language status and gave speakers the right to use it in courts and other legal situations. New Opportunities The Government is investing in a suite of initiatives to unlock Māori and Pacific resources, talent and knowledge across the science and research sector, Research, Science and Innovation Minister Dr. Ayesha Verrall announced today. Two new funds – He tipu ka hua and He aka ka toro – set to open in April and July 2023 -– will provide up to $10 million per year to Māori organizations to build Māori research capacity, capability and aspirations over the next five years. “We know Māori and Pacific Peoples are underrepresented in our research workforce. We also know that diversity is vital for our science system to realize its full potential,” Ayesha Verrall said. "By supporting Māori and Pacific Peoples, we lift outcomes for all New Zealanders and ensure we are ready to tackle the future.” As well as the new funds, Dr. Verrall also signalled the development of a fellowship program for early-to-mid-career Māori and Pacific researchers called Ngā Puanga Pūtaiao, and an internship programme for Young Māori innovators, Te Ara Pōtiki. Full eligibility criteria for these two initiatives are expected to be published in the first half of 2023. "Translating research into meaningful impact is a key priority for this administration. The focus is on people," he said. Extremely “Through Te Ara Paerangi – Future Pathways, the New Zealand Government understands and responds to the commitments and opportunities of Te Tiriti, enables Mātauranga Māori, and brings life to Māori research activities and the Pacific region with a focus on the future. We've been working to build a system of research, science, and innovation." New funding, fellowships and internships will be managed by MBIE and funded in part from the Expanding Impact of the Vision Mātauranga Initiative in Budget 2020. The Mātauranga Initiative 118 has allocated US$33 million to develop Māori research, academic and academic talent to attract and expand the innovation sector. He tipu ka hua will provide up to $6 million annually for up to three Māori-led research programs or platforms, lasting up to five years. He aka ka toro will provide Māori organizations with US$4 million annually to define how they will develop their own internal skills and competencies to engage in research, science and innovation systems. While full details and eligibility criteria for the Ngā Puanga Pūtaiao Fellowship and Te Ara Pōtiki Internship are currently being developed, applications for the fellowships are primarily open early to mid-Māori and Pacific students working in the fields of science, technology, engineering and mathematics. Support researchers (Stengel). The placement supports promising young Māori entrepreneurs and postgraduate technicians. Māori Land Act 1993 This Act consists of 18 parts and 2 schedules that establish composition, duties and liabilities of the Māori Land Court, the same court that has been in existence under the same name immediately before the inception of this Act. In addition to the jurisdiction and powers expressly conferred on it by this or any other Act, the Māori Land Court shall have all the powers thata are inherent in a court of record(I). It is divided into: Māori Land Court (I); The Māori Appellate Court (II); Provisions relating to both courts (III); Administration of estates (IV); General Recording of ownership (V); Status of land (VI); Alienation of Māori land (VII); Duties and powers of court in relation to alienations of Māori freehold land (VIII); Powers of assembled owners (IX); Representation of owners of Māori land (X); Leases (XI); Trusts (XII); Māori incorporations (XIII); Title reconstruction and improvement (XIV); Occupation orders (XV); Surveys of Māori land (XVI); Māori reservations (XVII); Miscellaneous provisions (XVIII). In 1993, the government passed the Māori law Te Ture Whenua. This is an important law that gives Māori a greater say in Māori land matters. It is constructed according to the Māori language. This Māori Land Act promotes Māori land rights. This law actively promotes the protection of Māori-owned land and provides a mechanism to facilitate land development. An important feature of this law is its legal reference to Māori cultural concepts. This is a significant change from previous Māori land legislation and is the result of extensive consultation with Māori on the requirements of an effective land legislation. 119 The purpose of this law is to encourage the preservation of Māori land in the hands of its owners. The law was developed after extensive consultation with Māori and reflects the Māori philosophy that land should be protected and treasured for future generations. Where necessary, however, preservation balances the need to function in a contemporary context. This law gives Māori landowners the power to choose and facilitate the maintenance, development, use and occupation of their land. The law divides all land in New Zealand into several categories. "Māori Customs Land" is land held by Māori Customs and cannot be sold. Māori property can only be sold in a few prescribed ways. This law represents the government's recognition that land tenure is important to Māori economic progress and development, and later to the preservation and promotion of traditional culture. Influencers in Māori Innovation space Te Kahukura – The Māori Millionaire Her mission is to empower Māori to become financially independent as she understands that not having access to money causes health issues, education barriers, and contributes to mental problems. Māori Millionaire was created to document the journey of learning about economic independence and empowerment for Māori individuals and communities. Money plays an important role in their lives, and understanding how they manage and store it has a huge impact on their ability to access health care, education, and other necessities. The economic inequalities faced by Māori need to be addressed. Māori Millionaire aims to provide a platform for sharing knowledge and resources on personal finance, investing and personal development. By documenting this journey and sharing the lessons learned along the way, she hopes Māori Millionaires can help individuals take control of their own financial futures and improve the well-being and prosperity of their communities as a whole. Email:-Te Kahukura Boynton is the founder of Māori millionaire and can be contacted directly on her LinkedIn profile. 120 121 CONCLUSION The startup ecosystem in New Zealand is supported by various stakeholders, including customers, the government, universities, and research institutions. Customers play a crucial role in the value creation process through purchasing products or services, providing feedback, investing, and collaborating with startups. The power dynamics and influence of customers are shaped by market competition, consumer protection laws, and a culture of fairness and transparency. The government, universities, and research institutions contribute to the ecosystem through initiatives such as tax incentives for research and development, technology incubators, cutting-edge research, and incubation and acceleration programs. The collaborative efforts of these stakeholders have created a supportive and sustainable environment that fosters entrepreneurship and innovation, contributing to the growth of the startup ecosystem in New Zealand, despite limitations such as small market size, limited funding options, limited access to talent, and high cost of living. Furthermore, opportunities for startups in the growing demand for sustainability and the country's strategic location for expanding into the Asia-Pacific region highlight the potential for continued growth and success in the New Zealand startup ecosystem. The New Zealand startup ecosystem presents both opportunities and challenges for startups looking to establish themselves in the market. Strong government support, a talented workforce, and a supportive culture are among the strengths of the ecosystem. However, limited funding, brain drain, market size, and geographic isolation are some of the challenges faced by startups in New Zealand. Nonetheless, technological advancements, regulatory changes, and market shifts are constantly reshaping the ecosystem, creating new opportunities for startups that can adapt and leverage these changes. The financial sources available to startups include public and private sector funds, local and international sources, and support from local incubators and accelerators. Public and private research centres in New Zealand provide startups with access to world-class research facilities, expertise, and funding to accelerate the development and commercialization of new products and technologies. Despite the challenges, the growing number of successful startups, incubators, accelerators, investors, and support organizations emerging across the country create a dynamic and thriving ecosystem that is well-positioned for continued growth and success in the years ahead. Recommendations 1. Develop a strong online presence and engage with audiences on social media platforms by consistently posting valuable content, responding to comments and messages, utilizing visual content, and encouraging employee advocacy. 122 2. Leverage the resources and support available in the New Zealand startup ecosystem by collaborating with universities and research institutions, accessing tax incentives for research and development, and participating in technology incubators to access mentorship and funding. 3. Focus on developing sustainable and socially responsible products and services to meet the growing demand for sustainability in the market. 4. Explore funding options available from public and private sources, both locally and internationally, to ensure adequate financial support for business growth. 5. Stay updated on technological advancements, regulatory changes, and market shifts that can create new opportunities for business growth. 123