Important TQ Update!

TQ was launched at an event on 31 January 2024 when Accenture’s senior ANZ leadership team visited Queenstown and delivered their economic blueprint for building $1bn per year in Tech GDP there by 2043.

We thought it would be useful to provide some answers to the FAQs we receive most often. Here goes!

Why and when was TQ formed?

TQ was first conceived in 2020, during the pandemic, when the then Mayor of Queenstown Lakes District, Jim Boult, asked Roger Sharp to pull together a strategy to diversify the local economy through building out its Tech sector.

Where can we get a copy Accenture’s report from?

You can download a copy of Accenture’s report from our landing page: www.technologyqueenstown.com

How has the response been?

In a word, incredible.

We’re delighted (and a little embarrassed) with the response to TQ’s launch. We’re delighted that so many legendary people have reached out to offer their support. But we’re also a little embarrassed that we haven’t been able to respond to all of the hundreds of enquiries we have received. But once we are funded and resourced, we will!

What is the ownership of TQ?

TQ has been established by a not-for-profit trust, Whakatipu Hangarau Trust. Whakatipu Hangarau means Queenstown Technology in te Reo Māori.

Is TQ a for-profit enterprise?

TQ is a not-for-profit enterprise whose sole mission is to insulate the local economy from future shocks by diversifying it. TQ isn’t trying to make money – but we’d sure love the District to make money through developing its tech sector!

How is TQ funded?

The seed funding and services for TQ were provided by MBIE, QLDC, QRC, the University of Otago, and by Roger and his firm, North Ridge Partners. TQ is grateful to these organisations for their support.

TQ will be mainly funded by the corporate sector, and offers several membership categories:

• Foundation Members contribute funding for five years and sit on the TQ Council, which is TQ’s peak body. The University of Otago, Queenstown Resort College and North Ridge Partners?were the first Foundation Members to sign up. Several more Foundation Members will be announced in May and June 2024.
• Capital Members make one-off cash contributions to help TQ meet its initial set-up expenses. QLDC recently signed up as TQ’s first Capital Member.
• Supporter Members provide services in lieu of cash, for example legal services, recruitment and media and Government relations advice. A number of in-kind memberships are in place, or under negotiation.
• Local Industry Membership: TQ wants to make it easy for the industry to engage. Free membership will be made available to local industry members and related service providers during TQ’s early days.

When will TQ be operational?

At present TQ isn’t fully operational. We plan to be up and running by Q4 of 2024.

Who will run TQ?

When five Foundation Members have signed up, our partners Brannigans will commence recruiting a CEO. Then the hard work (and fun!) will begin. (If you’re interested, send us a LinkedIn message!)

What is TQ’s ethos?

We see ourselves through the following lens:

• We’re a not-for-profit.
• We will promote and speak for the District's Tech Sector and will co-ordinate and operationalise its strategy.
• We aspire to create a rising tide for everyone in the community (tech and non-tech).
• We believe that the Tech Sector is not owned by us or any individual or entity.
• We will promote our Members’ businesses and business interests.
• We will work closely with and collaborate with other local organisations, for example Destination Queenstown and Start-up Queenstown Lakes.
• We are here to help, and we have no interest in competing with our members.
• We aren’t an incubator, an accelerator, an investor or a property developer: we are a tech sector development agency.