High-profile Chinese investors and Kiwi tech companies came together this week to work out how to better promote, connect and engage the New Zealand tech sector with the China market.
The Hi-Tech Summit, organised by the China Chamber of Commerce in New Zealand, Bank of China New Zealand (Ltd), the New Zealand Venture Investment Fund and supported by New Zealand Trade and Enterprise, started with a networking conference on Monday, October 16 and followed on with motivated Chinese investors visiting New Zealand tech companies today.
“New Zealand punches well above its weight on technology and innovation but only a handful of people in China would know. New Zealand is a small market but it is important to raise awareness of what is happening here. There’s a real opportunity for technology companies in New Zealand in the Asia market,” says Bank of China CEO David Lei Wang.
Panellist Mark Templeton, CEO of New Zealand company Aeroqual Limited said: “China is now leading edge. Partnering up and scaling up is crucial. We need to have a new mind-set about China. Smart cities are more advanced than anywhere in the world and we need to be there to partner. Chinese investment in new technologies like clean tech; solar power; electric vehicles is just phenomenal.”
“We just can’t ignore the Asian market. China and Asia should be on our business roadmap. Partnership is crucial as China investors have connections and access to target markets. They understand the business environment. You need to ask yourself where are your core strengths and capabilities in your strategy? There is no room for DIY in China or the Asian market,” says Mitchell Pham, Chair of NZTech and FinTechNZ, Director of Augen Software Group and Kiwi Connection Tech Hub.
Demonstrating how small kiwi companies could scale up for the massive market was also a key part of a deliberate strategy.
“Be direct about what your investor or partner can bring, not just money but connections and networks.”
“China is the number one market for many New Zealand tech developers and direct investment will bring a number of significant benefits. China investors often facilitate market access and provide a scale of investment that just cannot be found easily in New Zealand,” says Attendee Dr Will Barker, CEO of Mint Innovation.
The summit is part of Bank of China New Zealand (Ltd) partnering with technology membership body NZTech to tell the story of New Zealand’s innovation in technology in Asia.
Bank of China New Zealand (Ltd) and NZTech are working together to promote, connect and engage the New Zealand tech sector with the China market – not just to seek in investment capital from China but also, just as importantly, connections into the market, both ways.