Can Aotearoa NZ become a real "tech super power?" A lesson from the motherland...

Prior to our recent infamy as the new global home of cyclones, flooding and poor town planning; Aotearoa New Zealand has long been renowned for its picturesque landscapes, diverse wildlife, and thriving agriculture sector.?

But despite our natural beauty and agricultural export dominance, our country is loosing ground in nearly every measure and therefore must evolve and adapt to changing times and economic environment to remain competitive on the global stage. More of the same will simply not cut it this time round.

In recent years, technological advancements and increasing global demand for innovative and export quality products and services, combined with rising cost of living, inflation and unemployment rates have led to a critical need to pivot towards a more technology-driven economy.

However, this shift cannot happen on its own….

So, while I was enjoying my lungo on another glorious morning in the waikato while digesting the latest public debate surrounding one of the greatest own goals in NZ government history - ‘the firing of Rob Cambell’ - I stumbled onto this little gem.?

I know time your time precious, so I’ve summarised the article below:

In essence, the British government has today announced a new ￡360m plan to increase investment in innovation, attract talent to the UK and position the country as a “science and technology superpower by 2030”.

The plan, dubbed “the Science and Technology Framework”, includes a ￡250m pot to invest in AI, quantum and biotech, ￡9m to help establish a quantum computing research centre and an extra ￡50m to help universities and research institutes improve their AI lab facilities.

The framework also references plans to set up a sovereign “supercomputer facility” to work on groundbreaking technologies like Artificial Intelligence, and plans to create “hundreds of new PhDs for AI researchers'.

The newly created Department for Science, Innovation and Technology will lead on the plan.

Several other European governments have announced similar plans recently — backed with much more capital than this UK announcement.

In February 2023, Germany launched a €1bn fund to invest in "deeptech" companies. In January 2023, French state bank Bpifrance promised another €500m to "deeptech" and specifically Artifical Intelligence startups.

Poland and the Czech Republic (both far smaller startup ecosystems than the UK, France or Germany) have each set up funds to support innovative new companies recently too.

It got me thinking………

This initiative underscores the importance of taking a leadership position in emerging tech and specifically Artificial Intelligence, a field that Microsoft recently invested $10 billion dollars in through Open AI - founders of the now infamous Chat GPT3. "Who's mission [something we should all get behind] is to create safe Artifical Intelligence that benefits all humanity."

The UK investment framework raises questions about the transformative potential of similar investments that could by our respective governments down here in Australasia and more specifically Aotearoa NZ.?

The 400M ‘quid’ referenced in the UK tech framework article is equivalent to $776M kiwi dollars.?

The NZ government alone spent $776M kiwi on IT contractors and consultants in 2022, while “Budget 22” launched a Digital Technologies Industry Transformation Plan providing an extra $20 million over four years. I applaud this investment, but it pales in comparison to the bold statement, commitment, intent, and ambition of the UK tech investment framework.

I firmly believe that a similar capital injection would put a real rocket up the proverbial of the NZ tech sector and catapult it to become our number one export.?

Naturally... I have to challenge the common misconception that a national strategic investment is the only way... with the fearless leadership and proof of execution from the likes of Gallagher here in the Waikato.. Does it truly need to be national NZ... or is this something that a region like the Waikato could undertake on its own? Smaller, more agile and less politics?

In any case.. back to NZ tech.. such an initiative would provide numerous benefits, including diversifying the economy, creating high-value / higher paying jobs, reducing environmental impact, and all the while increasing our global competitiveness.

The UK framework provides some food for though. I urge whichever party or coalition gets voted into government in October to debate the potential benefits of a short-term but potent injection similar to that of the UK to support long-term global impact and tech leadership - all from the most beautiful place on earth - Aotearoa NZ.

#TechintheTron #WaikatototheWorld