We can't wait to see what the future holds.
Our vision for a supportive and diverse deep tech ecosystem.
Winning the partnership with Callaghan Innovation in the 2020 technology incubator programme was a dream come true for Bridgewest Ventures. The eight-year partnership means that we can maximise our impact and see out our vision for the development of a diverse and supportive deep tech ecosystem in New Zealand.
Saum Vahdat, the Managing Partner of Bridgewest Ventures, believes the relationship-focused community and willingness to work together makes New Zealand ideal for cultivating deep tech. "We really liked the ecosystem of camaraderie," Vahdat said when asked what drew the United States-based Bridgewest Group, to set up shop in New Zealand.
Saum's vision for Bridgewest Ventures is to create a place for the innovative community culture to grow through a go-to incubator programme that connects Kiwis with global opportunities.
"New Zealand already has a culture of mutual support that enables a strong, innovative deep tech ecosystem. However, I think it is missing the ability to catapult into the global marketplace. This is what I hope Bridgewest Ventures can bring. A bridge between New Zealand innovation and the rest of the world."
General Manager John Robson agrees.
"We can open the doors of some of the world's largest corporations to New Zealand startups," Robson said, "a resource that can be truly invaluable, especially when it comes to developing deep tech."
Letting new ideas flourish has benefits beyond just the startup. A deep tech ecosystem will positively affect the New Zealand economy, and part of our vision is to bring economic growth. We plan on incubating at least five companies a year. Extrapolated across the other programme participants, deep tech can have a major industry impact over the next eight years.
Kate de Ridder, Programme Manager at Bridgewest Ventures, describes how deep tech can provide an alternative, profitable, more sustainable industry to our traditional tourism or pastoral exports. "A deep tech industry here could allow us to improve our productivity, wealth, and opportunities for the next generation," she says.
In addition to global and economic opportunities, part of our vision is to provide very personalised support for innovators. While we are looking for world-changing concepts, we also realise that innovators and scientists bring big ideas to life. The incubator will wrap a business around these innovators and offer all the resources and expertise needed to establish their concept.
"Laying down pathways to allow underrepresented groups to see their options early on is essential. These pathways can open up opportunities for someone to discover or work on world-changing technology."
Entrepreneurs or scientists are at the center of deep tech innovation, so a considerable part of the vision is to make these positions more accessible for everyone. This means encouraging a more diverse group of kiwis pursuing science or technology. "Diversity of thought makes a more well-rounded and sustainable business," says de Ridder.
Robson shares a similar sentiment.
"So many young people across New Zealand don't get the exposure or encouragement they need to realise their potential. If I know, we have inspired a young person to pursue a science or technology venture that will define success for me."
So as we embark across the next eight years in partnership with Callaghan Innovation, we look forward to working towards our vision. We will establish a deep tech ecosystem, one which allows anyone to follow their dreams, no matter their gender or ethnic background. We will incubate ideas that contribute to humanity's progress towards productivity and lower planetary impact while bringing economic prosperity to New Zealand by helping Kiwis launch their ideas into the world.
We can't wait to see what the future holds.