A high profile group of investors from China are coming to New Zealand seeking to learn more about opportunities with New Zealand technology companies.
New Zealand technology companies are invited to attend the event in Auckland on 16 October.
The Summit is being organised by the China Chamber of Commerce in New Zealand, Bank of China New Zealand (Ltd) and the New Zealand Venture Investment Fund. The event is also supported by New Zealand Trade and Enterprise.
Bank of China (New Zealand) Deputy Director (Merger and Acquistion), Wee Li Cheong said: ‘New Zealand is well known in China for its highly successful primary industries but the country’s vibrant technology sector is much less well known. There’s a real opportunity for technology companies in New Zealand in the Asia market.’
The summit is part of Bank of China New Zealand (Ltd) partnering with technology membership body NZ Tech to tell the story of New Zealand’s innovation in technology in Asia. Bank of China and NZTech are working together to promote, connect and engage the NZ tech sector with the China market – not just to seek in investment capital from China but also just as importantly connections into the market, both ways.
Mr Cheong said: ‘Bank of China is uniquely placed to assist technology companies seeking a presence in Shanghai or Beijing, or who are looking to raise capital.’
Foreign direct investment plays a crucial role in New Zealand’s economy given the country has a relatively small capital base. Foreign Direct Investment in technology stood at NZ$2.3 billion in 2015 (Source: Statistics New Zealand), a small proportion compared to the NZ$32 billion invested in finance and insurance and the NZ$15 million invested in manufacturing.
New Zealand’s track record in technology innovation includes splitting the atom in 1919 to inventing the modern jetpack in 2008 and Peter Beck’s revolutionary rocket engine in 2015.
New Zealand punches well above its weight on technology and innovation:
• 5th in Asia and Oceania for innovation (INSEAD Business School Global Innovation Index)
• 3rd out of 139 countries for creativity (Global Creativity Index, Martin Prosperity Index 2015)
• 6th in the world for contribution to science and technology (Good Country Index 2016)
Recent success stories include Latipay, the payment gateway that has helped open the doors to New Zealand companies wanting to sell to Chinese buyers. Latipay started in New Zealand, has expanded into Australia and is expanding into the USA and Singapore.
The six investors attending the event on 16 October have decades of investment experience between them. They include:
• Huawei Feng, Managing Director of SV Capital, one of the most well-known angel investors in China who has supported over 30 companies in China.
• Michael Li is Managing Director of Tsing Capital, the first fund management company dedicated to multi-disciplinary sustainable technology investing in China and globally.
• Jeffery Hsu in an inventor on several patent rights and a Vice-President of the E United Group in Taiwan with revenues of US$2.5 billion in 2016.
• Jason Li will represent Top 50 Venture Capitalist Delta Capital who have been part of listing 14 projects in the Chinese capital market and internationally.
• Alex Zheung, Chairman of Co-Win Capital and Xin Lu, Chairman of Xinchen Investment, complete the Chinese delegation.
Full investor biographies can be found by downloading the programme here.
To attend companies will need to register and meet qualifying requirements. Companies from the high tech, green tech, med tech, agri tech, fin tech and clean tech sectors are being sought.
