Kiwis & Fintech

Note from the Publisher:  A long time ago, I got to spend a few days in New Zealand, land of the kiwi, and it’s such a magical place.  Never mind that the city of Auckland is sitting on a volcanic field, and while curently dormant, is likely to erupt again in the next “hundreds to thousands of years”, according to Wikipedia.  What could possibly go wrong (kind of like our markets)?  Anyway, even this lovely island nation is investing in fintech, and their Science and Innovation Minister (what a cool title) announced that fintech is one of three categories that will receive funding for government backed accelerator programs.  While we know this is a long way from our US fintech hubs, we feel it further demonstrates how fintech is encompassing the globe, from the largest to the smallest nations on the planet.

“Wellington’s reputation as a hub for tech-based startups has been boosted by new government-funded accelerators.

On Thursday Science and Innovation Minister Steven Joyce announced three new accelerator programmes would be set up to help develop early-stage start-up businesses in 2017.

The three programmes would focus on the financial technology, digital and energy sectors, with $3 million in government funding.

“‘The New Zealand tech sector is growing rapidly and making a big contribution to our strengthening economy. These accelerators are all about growing the next generation of high-tech Kiwi start-ups.'”

Read Full Article at http://www.stuff.co.nz