Global multinational companies (MNCS)
COVID-19 has brought about an increased pace of innovation and focus on sustainable solutions being not a want but a need. To move quickly, corporations and organisations have become even more reliant on partnerships and collaborations.
In NZTE's recent conversations with corporates, government agencies and sustainability experts, sentiment has shown an increased urgency that cuts across all sectors and business functions. Some themes have included:
Companies without external or few sources of innovation networks are now forced to speed up connections - i.e. you are as successful as who you know
A huge part of doing something "new" entails adapting what is already available in society or marketplace - i.e. you move as fast as your awareness
Ground-up initiatives and community-needs indicate where companies can be more relevant to segments or consumers - i.e. torture-test of agility for relevance
What this means for New Zealand exporters:
Find ways to seek connections to industry leaders to get a "view from the top"
Build your presence - through connection platforms, introductions, speaking opportunities etc - to become top-of-mind when corporates/organisations look for potential collaborators
Think: Who is the business or consumer/citizen segment who benefits from a partnership that you may be initiating?
For more context around the conversations NZTE is having with business leaders, you may also be interested in:
Industry leaders are still actively on the lookout and working with partners to identify advanced solutions in areas for food, sustainable operations, packaging and health. This is happening for mid- to long-term growth, as many innovation projects have been put on hold for the time being and resources within MNCs have been diverted to other parts of the business.
To enable business continuity for customers with ready capability to be matched with MNCs, NZTE continues to engage with MNCs to identify opportunities, share insights and prepare customers to be connected.
The MNC Programme can help New Zealand companies refine their value proposition, understand what industry players are looking for, and identify relevant business opportunities for their growth needs. New global and regional opportunities are featured regularly.
Leaders including Procter & Gamble, Nestlé, Nestlé Health Science and Reckitt Benckiser, are still actively on the lookout for partners to work with to identify advanced solutions in areas such as biotransformation, microbiome, sustainable packaging, affordable nutrition, plant-based food tech, Industry 4.0, sustainable supply chain and resource-use.
The five sector-agnostic areas where New Zealand companies can prepare for high-value partnerships include:
Improving health outcomes
Urban / agriculture improvement
Design for better experience
For more information on the MNC partnership programme and to find out the current opportunities, please contact your NZTE customer manager.
Health Technology (Healthtech)
As one of the easiest places in the world to do business, Singapore has drawn significant healthcare start-ups to the country. Singapore has also committed S$19 billion in the next five years for research and development, with a portion of it going to health and biomedical sciences.
Healthtech, considered a sub-sector of Deep Tech, also receives a Singapore Government incentive of 70% of funding in the initial investment of S$500,000. The Government will also match funding from private investors up to a S$4 million investment cap.
According to a report by Galen Growth Asia, Singapore clinched S$145.78 million (US$105 million) in healthtech deals in 2018, making it the city with the fourth largest deal volume in Asia. Singapore trails only behind China and India in terms of deal value.
Singapore's healthtech startup ecosystem grew to 174 in 2018 from 45 in 2012 and 106 in 2015. The market has a compound annual growth rate of 23% from 2015 to 2018. Top focus areas were wellness (19%), medical diagnostics (14%), and health management solutions (13%).
According to The Straits Times, the Agency for Science, Technology and Research has been working with local small and medium-sized enterprises, universities and Singapore investment company Temasek to build up local manufacturing capabilities for COVID-19 test supplies, and develop alternatives to overseas imports. This is to hedge against supply chain disruptions that could affect testing capacity.