Hi there,

By definition they start small, but startups have a significant role to play in growth. They’re a key driver for new job creation and are at the nexus of transitioning our workforce to the new economy.

But at the very time that job growth and movement is needed most, Covid-19 has seen 60 percent of startups retrenching staff and slashing costs according to the latest report from Startup Genome on the global startup ecosystem. The report warns of the potential for a ‘mass extinction event’.

So how are New Zealand startups faring? While we may err into self congratulation with the success of our tech investment sector, other metrics suggest our ecosystem is sliding rapidly backwards – dropping 21 spots when our skinny R&D investment levels are factored in.

As New Zealand, like every other country, looks to emerge from the pandemic, it’s time to double down on support of startups. Their success is vital to the transformation that industries and the economy need.

In other news this week:

What do NZ’s strengthened privacy protections mean for you?
Demand for digital customer interaction soars
Lessons in innovation from the world’s most innovative
Brand strategy takes priority over analytics, personalisation

The blowtorch of travel disruption impacts on insurers during the pandemic was a massive test, with lessons for all sectors. If you are focussed on improving your customer experience, have a read through best practices to empower your customer-facing team and complete the accompanying scorecard to get your own assessment.

Enjoy the read,

Heather Wright
Editor
editor@istart.co.nz

STARTUPS

Agritech, fintech and life sciences startups leading way for A/NZ

But startups risk ‘mass extinction event’…

Agtech, fintech and life sciences are upping New Zealand and Australia’s cred as places to base your startup, but there are also dire warnings in the latest startup report.

“They will collapse if they do not raise additional capital and their revenues and expenses remain unchanged, risking a mass extinction event for startups.”

[Read more]

PRIVACY

New Zealand’s new Privacy Act

What does it mean for business?…

New Zealand’s 27-year-old privacy laws have finally been updated with the passing of the 2020 Privacy Act by Parliament last month.

“Liability for breach notifications sits with the business or organisation, not individual employees.”

[Read more]

DIGITAL CHANNELS

Measuring the swing to digital

Covid-sparked growth looks set to stick around…

ANZ bank is among the many local businesses reporting dramatic increases in customer interaction via digital channels thanks to Covid-19, with indications it’s a change that’s going to stick.

“Digital has taken off massively and we will continue to put resources into it.”

[Read more]

INNOVATION

BCG’s Most Innovative Companies of 2020

The results are in: so what do the winners have in common?…

BCG, the global management consulting firm, has released its new report, The Most Innovative Companies of 2020 ranking the top 50 most innovative companies worldwide.

“Serial innovation is hard.”

[Read more]

MARTECH

Martech, analytics falling flat

Tech hype not living up to reality of life…

Analytics, personalisation and martech have taken a dive when it comes to CMO’s strategic priorities with brand strategy instead coming into focus more clearly as a direct result of the pandemic.

“A fine line exists between optimism and hubris.”

[Read more]

CLIENT INSIGHT

InsurTech: Delivering consistent communications

Four best practices to empower customer facing resources…

Most insurers recognise the need for consistent customer communications.

Heightened focus on customer experience is shining a new light on customer documents and communications.

[Read more]

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