Medtech
The Auckland medtech industry is growing at pace. A range of established and new innovators are working to solve thorny problems to increase efficiency, improve equity, and transition healthcare into the community, supported by strong government and private sector funding.
Digital technology and medical device companies are at the core of the sector. Alongside large anchor businesses such as Fisher & Paykel Healthcare, Orion Health, Molemap, Medtech Global and Aroa Biosurgery, there’s a cohort of high-growth companies coming through the pipeline, including deep tech firms emerging from universities.
Why Auckland?
Tāmaki Makaurau Auckland is the powerhouse of New Zealand’s tech sector, accounting for 55 per cent of revenue or some $8 billion earned by the country’s top 200 technology export companies, according to the Technology Investment Network (TIN) in 2022. Twenty medtech companies feature in the top 200 firms, of which a dozen are Auckland-based. Further guidance can be found in the Investor’s Guide to the New Zealand Technology Sector, sponsored by Tātaki Auckland Unlimited.
Proven centre of excellence
A MedTech Centre of Research Excellence operating in Tāmaki Makaurau Auckland from 2016 to 2021 saw $3.6 million used to seed opportunities, resulting in the formation of 20 companies. Today, 11 of those are still operating, providing around 145 jobs and receiving $80 million in investment, with a total business value of $220 million. And now there’s a new research network in operation (see below). In Auckland, deep tech companies are growing from their university roots where technical experts can find clinical partners. There’s a focus on personalisation, considered the future of healthcare, where it’s thought wearable devices are the first step in an alternative model.
Strong, connected ecosystem
Tāmaki Makaurau Auckland is home to the University of Auckland, its associated medical school and the Auckland University of Technology, among other universities. Together with Callaghan Innovation, they're part of a national industry-research network formed together with the Consortium for Medical Device Technologies (CMDT) and MedTech Research Network. This community of world-leading researchers, clinicians, industry partners and other collaborators has created a virtual medtech innovation precinct, MedTechIQ Aotearoa, which spans the country’s regional health hubs, and a NZ Health Tech Ecosystem Pathfinder Map.
Funding
Funders include Callaghan Innovation, KiwiNet and Return on Science. Callaghan has an initiative called the HealthTech Activator to de-risk and accelerate commercialisation of the medtech industry. KiwiNet represents the combined research expenditure of 19 universities, Crown Research Institutes and other publicly funded research organisations. Return on Science connects science and technology with top-tier advice and guidance and efficient access to capital. There are also programmes run through Te Titoki Mataora Medtech Research Translator, and active incubators, angel investors and venture capitalists.
Sector strengths
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Uniquely collaborative, highly connected ecosystem providing support from ideation to commercialisation
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Globally renowned anchor companies and a pipeline of high-growth startups
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A sector benefited by New Zealand’s gaming and augmented reality/virtual reality industries
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Solid government funding and a healthy private capital market
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Excellence in research translation, helping to take science into the clinical and commercial arenas
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Successful deep tech partnerships addressing global healthcare issues.
Success story
The heart failure mortality rate among Māori is far higher than that of non-Māori and the disparity is glaring. Whānau Tahi was created to support Whānau Ora at Te Whānau Ora o Waipareira Trust and build the trust’s experience in delivering whānau-centric services. It has a purpose-built software platform that centres on principles of family-based care and a drive for self-sufficiency. Whānau Tahi partnered with Auckland medtech company Seki.ai to provide a range of wearable devices young people could take home to help look after their families. The devices were also educational and the programme discovered 14 undiagnosed cases of heart disease. Seki is a popular Samoan exclamation meaning ‘cool’ or ‘excellent!’.
Contact our investment specialists to learn more about what Tāmaki Makaurau Auckland has to offer and who you can speak to for more information.