By ELLEN READ
Venture capitalists from Singapore are in New Zealand this week seeking investment opportunities.
About 20 New Zealand-based technology companies are meeting the Singaporeans to pitch for a capital injection.
Led by the chairman of the Singapore Economic Development Board, Teo Ming Kian, the delegation is visiting Auckland and
Christchurch to sample New Zealand's innovation and entrepreneurship first hand.
The aim is for New Zealand and Singaporean venture capitalists to join forces and co-invest in New Zealand companies, said Mr Teo. Wider collaborations are hoped for.
"The idea is just to get a flavour of what's available. What's important is the follow-up," Mr Teo said.
While hopeful the visit would result in some partnerships, Mr Teo said this would depend on the companies involved.
"I think between the Governments, the New Zealand Government and the Singapore Government, we can only act as facilitator, as a catalyst. Whether there are going to be collaborations or partnerships will depend on the private sector."
Trade New Zealand's Nick Arathimos said the recently signed free trade agreement had accelerated expanding the countries' relationship from trade to trade and investment.
Details of the interested companies were not released because of commercial sensitivity.
Mr Teo is also visiting several educational institutions, including Unitec, to discover how they are developing new technology.
Last year, Singapore's private sector venture capitalists managed more than $S10 billion in venture capital.
"What we are hoping is for Singapore to provide a platform, a launching pad, to enhance the value of such New Zealand companies and in the process we achieve a mutually beneficial arrangement.
"[It's] a win-win situation for both the NZ economy, the Singapore economy plus the commercial partners."
