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Software is biggest R&D investment area, says NZ report

Business investment in New Zealand start-ups has increased by around $66 million over the past decade, with software development attracting the most venture capital, a government report has said.

The report estimates that NZ now has up to 600 small companies working in the software technology industry, but investment in start-ups is still low compared with other countries, including Australia.

The government’s annual Research, Science and Innovation System Performance Report looks at the country’s strengths and challenges in meeting R&D goals. The reporting system was introduced in 2016 to provide a reliable source of data for policy development and funding.

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