How reciprocating deal will help Aussie and NZ start-ups get going either side of the Tasman
Aussie start-ups will be able to get a desk across the ditch to expand into the New Zealand market following a new partnership between innovation hubs.
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Australian start-ups will be able to get short-term residencies in New Zealand after one of the nation’s largest innovation hubs landed a partnership across the ditch.
The idea behind the partnership is to allow new businesses from both countries easier access and support to markets closer to home.
The deal, which began this week, allows start-up and scale-up businesses working with Stone & Chalk to get a desk and a helping hand at GridAKL in Auckland for between one to three months when looking to expand into New Zealand.
The deal works both ways. Start-ups supported by GridAKL will be able to nab a seat at one of Stone & Chalk’s four offices in Australia, which include spaces in Sydney’s Wynyard Station and Tech Central, and single offices in Melbourne and Adelaide.
Stone & Chalk chief executive Chris Kirk said New Zealand was often overlooked or seen as a market which didn’t require a lot of help to expand into for Australian start-ups.
“So many of our companies are looking at international markets and for us it was always a little bit funny that New Zealand seemed to be a little bit of either the forgotten child or the assumption was that Australians could just figure it out themselves,” he said.
New Zealand had long been a training ground for a number of multinationals from the US but not a lot of Australian start-ups had been able to capitalise on that opportunity.
Branching out into New Zealand should be a “natural first step” but it did require help and support of tech hubs, Mr Kirk said.
“Many Aussies and Kiwis assume that it’s an easy first step to enter New Zealand. The reality is that we recognise that we need to do a better job supporting companies to take that step,” he said.
Marissa Brindley, head of economy at Tataki Auckland Unlimited which owns GridAKL, said Australian start-ups would benefit from trialling international expansion plans closer to home.
“We’re a great market to test with and trial an expansion of your business outwardly before you reach the rest of the world,” she said.
New Zealand start-ups saw a similar opportunity in Australia, she said. “The Australian market has been the top export market for our start-ups, particularly in the tech industry, and in 2022 alone, in about 22 per cent of start-ups exported into Australia,” Ms Brindley said.
Catriona Stewart, who manages Tataki Auckland Unlimited entrepreneur networks, said the ability to have access to industry experts without having to personally build those relationships first would be “invaluable”.
“The beauty of the partnership for our start-ups is just this ease of market entry. Nothing beats having a relationship with someone,” she said.
“Our start-ups are going to get access to people that might have taken them months and months to get to know and to build those relationships.”
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Originally published as How reciprocating deal will help Aussie and NZ start-ups get going either side of the Tasman
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