Three sectors can transform Auckland into a Global Tech Hub

A renewed focus on growing three technology sectors – CreativeTech, Fintech and HealthTech – could transform Auckland into a world-class tech hub over five years, says a new report by the Auckland Tech Council, a group of Auckland Business Chamber members from across the technology sector.

Auckland’s path to becoming a Global Tech Hub argues that with intent and action from central and local government, and business, we could ensure Auckland joins other global tech hubs as a recognised city of innovation and technology.

“We are already doing well,” says Simon Bridges, CEO of the Auckland Business Chamber.

“Today, technology contributes $13.6 billion to our regional GDP and is a serious driver of productivity at around $250,000 per employee in revenue.

“Over time, with alignment and commitment, technology can become our biggest sector.”

It is currently the Auckland region’s second-biggest export.

Aspirational 5-year roadmaps are set out in the report, which include initiatives such as moving from STEM to STEAM and starting creative apprenticeships in our education system, making regulatory changes to incentivise offshore talent and investment, and the development of a HealthTech precinct so that this sub-sector can continue its exponential growth from $710 million in 2010 to $2.1 billion today.

Common themes for change cut across all sub-sectors, says Mr Bridges.

“Telecommunications infrastructure investment has been strong in recent times, but we can’t rest on our laurels. For ongoing success, we need to scale up the energy grid to meet growing demands.

“Additionally, access to talent is a pervasive issue. While immigration is essential, growing homegrown talent is also crucial. The report highlights the lack of relevant tertiary graduates in the last decade and the need to invest in programmes specific to CreativeTech, FinTech, and HealthTech.

“Other things that would help include closer integration between technology employers and tertiary providers, and employer incentives for retraining and upskilling.”Madeline Newman, Managing Director of the AI Forum, comments, “A successful Auckland provides opportunities for all New Zealanders, and there is no doubt of the positive impact the initiative will have on the whole of New Zealand.”

Read the report here.