New Zealand is celebrated in the world’s premier report on startup and economic enrichment - showing 103% growth in ecosystem value

The 2023 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network was launched today at The Next Web Conference in Amsterdam. The GSER is powered by the world’s most comprehensive and quality-controlled dataset on startup ecosystems. Informed by data on 3.5 million startups across 290+ global ecosystems, the report provides compelling new insights and deep knowledge about startup trends around the world. Contributions from expert thought leaders and local key players further enrich the report’s extensive, evidence-based findings, which are the product of over a decade of Startup Genome’s independent research and policy work.

The Ministry of Business, Innovation and Employment has partnered with Startup Genome to recognize New Zealand’s entrepreneurial ecosystem in the #GSER2023 —

• New Zealand created $9,127,481,698 in Ecosystem Value from Jul 01, 2020 to Dec 31, 2022, representing 103.3% in compound annual growth compared with 01 Jul 2018 - 31 Dec 2020. Ecosystem value is a measure of economic impact, calculated as the value of Exits and startup valuations.
• New Zealand has moved up 14 positions, reaching #20 in the Emerging Ecosystems ranking thanks in part to an increase in exits of over $50 million and a new unicorn, Lodestone Energy, valued at $1.3 billion.
• New Zealand has also seen upward movement from GSER 2022 across six out of seven key metric categories for ecosystem success factors: Performance, Funding, Experience, Connectedness, Market Reach, and Talent
• Between 2020 and 2022, the amount of early-stage funding raised by Kiwi startups almost doubled compared to the previous 36-month period.
• With 2400+ startups to boast, the density of the startup community in New Zealand, with a population just over 5 million, exceeds that of many regional peers.
• New Zealand has seen an increase in exits over $50M. The ecosystem has also seen an increase in unicorns count, improving standing for the region based on two key metrics for ecosystem success factors: Performance and Market reach.
• New Zealand shows particular strength in AI & BD, Industry 4.0, Cleantech, and Agtech & New Food. These sectors are highlighted for their density of talent, support resources, and startup activity
• Recent increase in VC funding availability, high quality of life, and supportive founder culture are cited as reasons a startup should move to New Zealand

New Zealand’s burgeoning startup ecosystem is firmly grounded in the principles of social and environmental responsibility, with many startups committed to making a positive impact on both,” shares JF Gauthier, Founder & CEO of Startup Genome. “In recent years, the country’s AI & BD, Industry 4.0, and Agtech & New Food sectors have emerged as regional strengths. With increased funding levels and a supportive founder culture, New Zealand’s startup ecosystem is rapidly expanding and poised for an exciting future. Startup Genome is proud to have worked with the Ministry of Business, Innovation and Employment (MBIE) to highlight the opportunities this majestic country can offer the world.”

GSER 2023 ranks the top 30 global ecosystems, as well as 10 runners-up and includes a top 100 ranking of emerging ecosystems. It also highlights startup communities from a regional perspective, separately ranking ecosystems in Asia, Europe, Latin America, MENA, North America, Oceania, and sub-Saharan Africa. Key themes of this year's report include inflation, AI regulation, talent attraction, global VC funding, and a wide range of market sub-sector analyses.

The GSER is created in partnership with the Global Entrepreneurship Network, Dealroom, and Crunchbase. The 2023 GSER provides invaluable insights and guidance on how to promote thriving startup communities — the #1 engine of job creation and economic growth. Discover how 140 entrepreneurial ecosystems compare and view the full report here: https://startupgenome.com/report/gser2023.

ENDS

ABOUT MINISTRY OF BUSINESS, INNOVATION AND EMPLOYMENT (MBIE)

The Ministry of Business, Innovation and Employment (MBIE; Māori: Hīkina Whakatutuki) is the public service department of New Zealand charged with "delivering policy, services, advice and regulation" which contribute to New Zealand's economic productivity and business growth.

ABOUT STARTUP GENOME

Startup Genome’s data-driven insights provide innovation policy leaders with clarity, momentum, and strategy to help them define and execute growth-focused actions. Working side-by-side with 300 partner organizations, Startup Genome’s frameworks and methodologies are instrumental in building foundations for startups to grow. Startup Genome identifies key gaps in startup ecosystems and prioritizes actions to fuel sustained economic growth — rooted in more than a decade of independent research. 

Find out more by contacting Adam Bregu at adam@startupgenome.com or visiting startupgenome.com and LinkedIn.

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