When I started working in the technology sector about 15 years ago, there were very few early-stage technology startups in New Zealand, apart from a few standout examples like Xero and Diligent Boardbooks. For this reason, I focused on the US and spent a considerable amount of time travelling to Silicon Valley and other locations to immerse myself in the vibrant startup ecosystem abroad.
Over the next decade and a half, I became increasingly involved in the New Zealand scene. I invested in various companies, served on boards, mentored at different incubator programs, and generally engaged with the startup community. I often lamented that in New Zealand, there seemed to be a cultural cringe that led to frequent questions about how we could become the next Silicon Valley. My views on that question are clear: Silicon Valley is great, but it has enough drawbacks that we shouldn’t aim to replicate it. Instead, we should invent a new way of doing things here in New Zealand.
I’ve been reflecting on our progress since I attended an event a few weeks ago organized by Icehouse Ventures. Icehouse Ventures has evolved significantly since its inception. Originally, it started as an incubator or business education program called the Icehouse about 20 years ago. As the market has matured, it has transformed into a funding agency with various programs for early-stage ventures, including young entrepreneurs and more seasoned operations.
Of course, I have some reservations about certain companies within the Icehouse stable and questions about behaviors in the broader ecosystem. This is always the case in any ecosystem, where some actors may not align perfectly with the initiative’s goals. However, rather than focusing on these exceptions, I want to highlight my experience from the event.
When I walked into the room, I recognized several people, but I was particularly struck by the large number of individuals I hadn’t seen before and the high proportion of young attendees. One of the Icehouse team, Jack, who has always been one of the youngest in the room, seemed like one of the old-timers at this event. It was interesting to see this shift.
Chatting with people between tacos and crispy chicken bites, I was impressed by the diverse range of activities happening in Christchurch and New Zealand in general. While we often hear about high-profile success stories like Rocket Lab, many companies are working on significant projects that are not widely known. The event felt reminiscent of early Silicon Valley gatherings, with energetic, ambitious, and driven young entrepreneurs eager to make a difference.
That said, this early-stage approach isn’t the only future for us. We still need companies that produce physical goods, grow food, and utilize New Zealand’s fiber in innovative ways. The future will be diverse. What struck me was that we now have the ecosystem we once dreamed of. Unlike Silicon Valley events, which often feature aggression and posturing, this event showcased a group of impatient yet calm and egalitarian young Kiwis.
There was also an intriguing focus on applying smart technology to seemingly mundane areas. For example, one company is working to simplify finding vehicle parts—a practical yet unglamorous challenge. Another example is Kiwi Fiber, which has been working for years to create a carbon fiber alternative from New Zealand-grown flax. Visiting their Christchurch facility recently, I was immediately impressed by the smell of flax and a large machine designed to separate the green matter from the fiber.
This is the exciting aspect of where we are in New Zealand. For years, many of us have argued that we shouldn’t try to reinvent Silicon Valley but should instead build on our strengths—primary production and our historical background—and apply technology to do things smarter. That’s what I saw the other night, and it was incredibly refreshing.
There are still aspects I’m sceptical about and individuals within the ecosystem who display a disheartening level of arrogance and lack of compassion. However, setting those aside, I believe that in the past 15 years, we have created something akin to an overnight success.
