As a Singapore-based VC, I've witnessed how innovation ecosystems evolve naturally when properly supported. Singapore initially emphasised deep tech but allowed market forces to shape developments organically.
Critiques of New Zealand's funding imbalance misses a crucial point: successful startups need significant market power quickly, regardless of their technological depth. Creating numerous small non-deep tech ventures won't deliver the economic impact New Zealand seeks. You need to continue to focus on both.
Three focused recommendations:
Establish a national coordination body with a hands-on advisory panel of experienced entrepreneurs and investors who can directly mentor founders to scale globally. This addresses both fragmentation and practical scaling challenges.
Develop diverse funding mechanisms prioritizing ventures with global potential rather than simply increasing startup quantities. Government initiatives on grants, fund of funds support should continue with momentum but understand the signs of change and adapt to it.
Implement more talent development/retention programs, one example to take note of is Singapore's NUS Overseas College, which immerses students in innovation hubs like Silicon Valley, creating globally-minded entrepreneurs with valuable networks. Net new migration into New Zealand needs to be positive over time, but this is likely to be the toughest challenge yet.
New Zealand should focus more on building globally competitive companies with proper ecosystem support. I know you can do it. You know you can do it. Whāia te iti kahurangi - pursue that which is precious.