Source: Digital Health Connect September 2023
A new report says New Zealand's startup ecosystem has undergone a "breathtaking transformation" over the past 15 years, but the country's startup density is only half that of our global peers.
UpStart Nation, published by the Ministry of Business Innovation and Employment, says "our startups are still working with materially less money and taking longer to raise than their offshore peers, and as a nation we've lacked an overarching strategy that could effectively increase our speed to success".
Consortium for Medical Device Technology (CMDT) co-founder Diana Siew agrees, saying there are more than 220 medtech startup companies operating in New Zealand, but the vast majority are still very small. "A lot of them seem to be stagnant. They might have been going for a long time but they are not moving forward," she says.