Jakki Nahu: Mapping New Zealand's Innovation Landscape
We’re excited to introduce Jakki Nahu, who has joined the Bridgewest Ventures team for a project focused on mapping Aotearoa New Zealand's innovation capabilities.
With a background in Earth Sciences and Economics from Waikato University, and experience in investments and lending, Jakki’s mission during her time with us is to uncover trends that point to New Zealand’s strengths and help guide future investment decisions. Her work zeroes in on three key areas: universities, investment, and infrastructure. Reflecting on her first few weeks with us, Jakki shares:
"Bridgewest Ventures has opened my eyes to the dynamic world of Venture Capital and Private Equity here in New Zealand. It's been an incredibly informative experience, helping me gain insight into our primary markets."
Jakki shares some of her findings and key questions.
Aotearoa New Zealand's Innovation Capabilities: A Hidden Gem?
New Zealand may be small, but our universities continue to rank among the best globally, especially in Agriculture & Forestry, Civil & Structural Engineering, and Food Science & Technology. But have we fully tapped into these strengths to fuel innovation and start-ups?
The AgriTech sector has produced notable success stories like Engender (precision breeding solutions) and Regen (effluent irrigation management), both of which have attracted international acquisitions. Meanwhile, the FoodTech sector is gaining momentum with emerging companies like Jooules (ethical protein ingredients from CO2 emissions) and Daisy Lab (precision fermentation) making waves across the industry.
With 68% of total investment in 2020 being made into software and services, it’s unsurprising that this area has historically driven most of our success in terms of business growth and acquisitions. However, we're now seeing deep-tech sectors like pharmaceuticals, AgTech, and ClimateTech rise to prominence. In 2021, investment in deep-tech surpassed software, signaling a shift that could lead to new milestones in these cutting-edge industries.
Expanding Horizons: From Local Acquisitions to Global Listings
New Zealand start-ups have caught the attention of international markets, with acquisitions by US, European, and Australian firms leading the charge. But there's still significant potential to expand our appeal to Asian markets and beyond.
Our start-ups are also making their mark on the global stage with companies like Aroa Biosurgery (soft tissue repair products) and LanzaTech (carbon recycling) successfully listing on the Australian Stock Exchange and NASDAQ, respectively. Recent notable acquisitions include Coretex (vehicle telemetrics) by EROAD, SnapComms (employee communication system) by U.S.-based Everbridge, and Yabble (AI insight solutions) by U.K. organization YouGov.
Networking, Connectivity, and Support: Key Ingredients for Success
New Zealand's innovation ecosystem benefits greatly from its ease of networking and high levels of connectivity. The Regional Business Partners Network, along with accelerators and innovation hubs like Creative HQ (Wellington), Soda (Hamilton), Ministry of Awesome (Christchurch), and HTK Group (Auckland, Hawkes Bay, Christchurch), play a vital role in supporting entrepreneurs across the nation. In addition to these networks, New Zealand offers tax incentives and non-dilutive funding opportunities through government agencies like Callaghan Innovation, as well as grants from the Marsden Fund, Neurological Foundation, and Agribusiness Innovation Grants.
Recognizing the need for infrastructure, we're seeing more universities and venture capital firms opening their doors to provide spaces for research and collaboration. This growing support system is helping to bridge gaps and drive innovation forward.
Do you have the next big idea in deep tech?
We’re searching for meaningful innovations that will positively impact our world socially, economically, or environmentally. If you’ve got a novel idea, apply to the Bridgewest Ventures Deep Tech Incubator today!