NZ Innovation
Phil McCaw of Movac writes on NZ Innovation:
- Innovation A+ – We’re world class innovators and there’s plenty of evidence to support this: Rocket Labs, LanzaTech, Xero, PowerByProxi, Weta Studios, 8i, Aroa Biosurgery, Pushpay, Vista to name a few
- Execution B+ – This is where we face several significant challenges. But, let’s be realistic, the leap from a great start to a great ($100m+ revenue) business is huge, there will be lots of fallout and that’s natural. There is a shortage of capital in New Zealand but my experience is the best business do get funded.
His solutions:
- Fewer, better Accelerators
- Continue to grow Angel Investment
- Realign the balance between taxpayer supported research vs development funding
- Continue to build and support a domestic Venture Capital industry
- Don’t constrain New Zealand funds to New Zealand only investment
- Establish a public/private partnership to help develop our Great Founders into Great Leaders