The Technology Queenstown (TQ) project has gained new commercial partners in Genesis Energy and SBS Bank, who have joined as Founding Members and will provide critical funding for the next five years. TQ aims to become a $1 billion technology enterprise that has the potential to transform the Southern Lakes economy. The addition of Genesis Energy and SBS Bank as commercial supporters has been welcomed by TQ founder and Chair, Roger Sharp. Mark McLean, the Group Chief Executive of SBS Bank, expressed pride in joining the collaborative effort to leverage the potential of Queenstown's growing tech sector. Stephen England-Hall, the Chief Retail Officer of Genesis Energy, emphasized the importance of transitioning and diversifying regional economies to create a thriving and sustainable Aotearoa. With the inclusion of Genesis Energy and SBS Bank, TQ now has Accenture, Queenstown Resort College, the University of Otago, and North Ridge Partners as Founding Members. The Queenstown Lakes District Council (QLDC) and Queenstown Airport Corporation Limited have also signed up as TQ's first Capital Members. With this critical funding and support, TQ can move forward with recruiting a CEO and commencing operations later this year [a6f913ff].
The tech industry in Queenstown, New Zealand, is set to receive a boost with the launch of a new non-profit entity called Technology Queenstown (TQ). TQ's goal is to grow Queenstown's tech sector into a one-billion-dollar industry within the next 20 years. Currently, technology makes up only 1.5 percent of Queenstown's economy, but TQ hopes to replicate the success of ski resort towns in the United States, where tech contributes 20 percent of economic output. TQ plans to collaborate with the Queenstown Resort College and the University of Otago to enhance technology studies and drive economic development in the district [eccbaec5].
To achieve its ambitious goal, TQ needs to secure an additional $600,000 to sustain its operations in the first year. The entity aims to attract larger companies to the district and is exploring options to negotiate with landlords or property developers to build rental accommodation for the expected influx of tech workers. The council is also supporting efforts to address the housing needs of the growing tech industry in Queenstown. The launch event of TQ was attended by representatives from Destination Queenstown, the Queenstown Lakes District Council, and the University of Otago [eccbaec5].
In addition to the efforts of Technology Queenstown, the aerospace industry in New Zealand is also set to benefit from the establishment of the Tawhaki National Aerospace Centre. The $29.4 million facility, located on the South Island's east coast, aims to attract global firms and boost the country's aerospace sector. The centre offers strategic advantages such as minimal air traffic, launches over water, and a latitude in the Southern Hemisphere. The New Zealand government has set a target of growing the aerospace industry to NZ$10 billion by 2030 and is actively working to reduce regulatory burdens. The Tawhaki National Aerospace Centre has already attracted companies like Boeing subsidiary Wisk Aero for testing new technology, with the goal of creating more jobs and value for New Zealand in the space and advanced aerospace sectors [d2f7ab0a].
An industry report by the Technology Users Association (TUANZ) highlights the need for a government-led effort to raise New Zealand's digital competitiveness. The report is based on feedback from chief information officers (CIOs) of about 30 leading non-tech NZ companies. The report emphasizes the need to become more competitive in areas such as tech manufacturing, robotics, cybersecurity, regulations, and connectivity. CIOs are calling for leadership from the government to transform public and private sector organizations and ensure broad inclusion and diversity. The report also raises concerns about the lack of investment in retaining New Zealand's intellectual property (IP) and the increasing importance of cybersecurity [c15d5050].
Technology Queenstown (TQ) has secured funding partnerships with Genesis Energy and SBS Bank, who have joined as Founding Members and will provide critical funding for the next five years. TQ aims to diversify the Queenstown Lakes District economy by expanding its tech sector. TQ has also announced that Queenstown Lakes District Council and Queenstown Airport Corporation Limited have signed up as TQ's first Capital Members, providing start-up funding contributions. With the support of these partners, TQ will now recruit a CEO and begin operations later this year [d9c93cfd].