If you’re an aspiring software engineer or developer, New Zealand may be the ideal place to start your journey. The country has a strong engineering culture, and several software technology startups have found success by building their businesses in the region. New Zealand is now home to more than 500 software businesses across many verticals, including financial services, medical care, and transport.
Several factors make New Zealand an attractive destination for tech entrepreneurs. The cost of operating a business is low, with rates for office rental, internet, and electricity close to average values throughout much of the country. It’s also easier to attract funding from investors willing to invest money into nascent startups compared to other geographies.
New Zealand’s Software Industry
The software industry is an integral part of New Zealand’s economy. The sector is also responsible for creating many job opportunities. It is growing at a quick speed. The industry is highly competitive in fintech, health IT, and creative technologies. The tech sector is the country’s third largest export category, bringing in revenues of over $8.7 billion.
New Zealand is also a country with a high internet penetration rate. This is good news, especially for software tech startups who want to venture into the industry. If you fall in this category, do your research. There are lots of proxies from New Zealand that can help with market analysis and web data extraction. These proxies also bypass geo-restriction and bans and increase privacy and security during web scraping.
The Startup Scene in New Zealand
New Zealand has a strong startup scene, with an increasing number of capital-efficient companies choosing to base themselves in the country. This trend has seen startups in New Zealand focusing on e-commerce, fintech, and other financial services.
New Zealand also benefits from being close to Asia, with the majority of capital flowing into the country via ASEAN investors and entrepreneurs. The country’s proximity to Asia also benefits from the growth of the surrounding economies, especially in the financial services sector.
New Zealand’s startup scene is healthy but could be more assertive. The ecosystem is relatively small and lacks the diversity of funding options, mentorship opportunities, and networking events that are more commonplace in other parts of the world.
Easy Access to Funding
New Zealand has become one of the most popular places for venture capital investors to congregate. New Zealand is a popular location for Asian venture capitalists; nearly half of the funds invested in New Zealand between 2012 and 2016 came from Asian investors. The country’s proximity to Asia and strong engineering culture make it an attractive option for regional investors. Venture capital funds have also taken an interest in the country.
Strong Engineering Culture
The country’s strong engineering culture and proximity to Asia attract a significant number of tech workers from the region. Many engineers from India, China, and Malaysia have settled in New Zealand to work in the technology sector. The influx ensures that the country’s engineering skillset is well placed to meet the needs of the growing software industry.
New Zealand’s rising number of engineering schools and programs has also helped boost the country’s talent pool. In addition, NZ has a growing number of startups focused on building products designed to make the lives of engineers easier.
Friendly Regulatory Environment
New Zealand is a friendly place to do business. The country has assertive laws and has implemented the Trans-Tasman Anti-Counterfeiting Trade Agreement, the world’s most comprehensive digital rights law. This enforcement makes NZ an attractive place to set up a business that relies on the protection of intellectual property.
New Zealand has also implemented a number of tax reforms in recent years that make it more attractive for foreign investors. These reforms include reducing the corporate and small business tax rates and introducing a low-tax KiwiSaver wrapper fund.
Conclusion
New Zealand’s software industry is thriving and has experienced rapid growth over the past decade. Many people now work in this sector as software engineering jobs are always in high demand. New Zealand’s growing startup scene and strong engineering culture make it an attractive place for entrepreneurs to start their businesses. One cannot downplay the benefit of its close location to Asia and Australia.