Judith Collins: Backing Kiwi start-ups to take on the world

Past initiatives, such as the rollout of Ultra-Fast Broadband, were instrumental in enabling us all to keep working during the Covid lockdowns. Photo / NZME

OPINION:

It is not rocket science to realise New Zealand is facing strong headwinds, with a struggling economy, a health system under pressure and challenges in meeting climate change obligations. But it is rocket scientists – Kiwi technology start-ups – that may hold the solutions.

Today National is hosting its second annual Tech Summit – From Start-Up to Scale-Up – where 150 of the country’s tech leaders, academics, venture capitalists and entrepreneurs are gathered, united in helping create a world-class technology sector in New Zealand. This industry has huge potential for New Zealand’s future, and we need it to grow.

The purpose of the summit is to identify what the government can do from a policy perspective to support Kiwi start-ups to grow. We know New Zealanders have great ideas as we have proven success in generating start-ups. What we need to do now is provide the environment where these tech innovators can grow and scale-up.

There are many challenges facing the sector, not least the fact they are being ignored by the current Government. This is impacting some of the sector’s issues, such as attracting and retaining talent.

The average technology engineer salary in San Francisco is US$166,818 which is more than NZ$285,000. It is no surprise many New Zealanders are considering taking their skills elsewhere. It is also no secret that we are in the midst of a productivity slump. Kiwis are working harder and longer than ever, while getting paid less than their equivalents in other countries. This must change: and a cutting-edge, growing technology sector is one of the key tools to achieve this. It is already one of our most productive sectors. But there is huge scope for expansion; and the enabling elements of technology can further enhance and strengthen other industries. Across the board, technology offers creative, innovative solutions for many of the challenges New Zealand is facing.

It is clear to me that more growth in this sector offers great benefits for our country. A vibrant technology sector lifts incomes and grows the economy in a multitude of ways. It provides not just better-paying jobs but more fulfilling careers for our younger people, many of whom currently cannot help but eye up the better opportunities they will find overseas.

The primary sector is one sector that has readily embraced technology and this has ensured our farmers and growers are world-leading. Their focus and determination has helped them succeed against far bigger global competitors. And technology, science and innovation are a big part of how they’ve done this. Technology has always helped push our primary sector forward, and it can continue to do so, as long as we create the right policies and conditions for it to flourish.

The development and investment in new technologies will also help our primary sector meet its environmental and climate change obligations without imposing massive extra costs on the sector or risk increasing food costs on struggling Kiwi households. We want our agricultural production to continue to contribute strongly to the New Zealand economy.

There are many more wonderful examples of Kiwi technological ingenuity, aided and supported by government policy. Past initiatives, such as the rollout of Ultra-Fast Broadband under the last National government, were instrumental in enabling us all to keep working during the Covid lockdowns.

The summit acknowledges the Government needs to do more to support, encourage, embrace and transform the technology ecosystem in New Zealand.

During the summit, National will be listening and engaging with tech leaders, academics, and those in the private sector to identify some of the key challenges and opportunities. We will explore the issues in detail and develop a paper that will outline how a future National government will support the sector to grow and develop. Called the Product to Market Road Map, the paper will showcase success and confront barriers for taking great ideas to global markets. We want to identify opportunities that will take seed funding through to commercialisation at a global level.

We will seek feedback and consult on the Road Map, as we work to develop a well-researched and consulted visionary policy for a vibrant technology sector before the election. A true partnership between the sector and National.

We want enduring solutions that rectify the constraints holding us back. Policy that will unlock the huge potential that exists in New Zealand today and in the future and that will enable our smart start-ups to scale-up and become world leaders.

National wants the 2023 election to be a true competition of ideas, where we debate our big issues and bring voters compelling solutions. One of the critical areas that needs attention – that this Government hasn’t sufficiently delivered on – is the technology sector.

New Zealand’s future can be brighter – it must embrace technology.

- Judith Collins is the former leader of the National Party.