Raglan Refresh (A Tonic For NZ)

Posted on Monday, 27 April, 2026 by Paul Spence

I almost didn’t make it into 2026 and I have the battle scars to prove it. Surviving a serious life threatening illness puts everything else into perspective forever. So visiting Raglan this long weekend – with my wife Renea Mackie – has been an amazing tonic for us both after a very challenging 12 months.

Raglan Harbour Sunset

Restful location with rejuvenating sea air, amazing views and some overdue quiet time for writing and reflection about what’s up next. Did I mention the cute laneways, lovely cafes, fresh fish & chips and friendly, creative locals? Nestled among the misty hills of coastal Waikato, this busy little town somehow balances the needs of alternative lifestylers, eager tourists and local Tainui people. At least superficially, it is a microcosm of our nation.

But in the midst of these simple pleasures, I’m also mindful that wider New Zealand is doing it tough right now in economic terms. The future quality of the healthcare system (that saved my life) and that of our once respected education and welfare institutions now looks at risk. Successive governments have failed to make smart decisions about moving our country up the value chain. We have not planned adequately for energy and climate security. Infrastructure capacity is still years behind population growth and land developments. On top of all this, environmental protections are being wound back.

I’ve been around long enough to witness the ebb and flow of numerous economic cycles. But this time it’s different. Society has never been so polarised politically. Young people and knowledgeable elders with clever ideas are not being heard or are giving up hope and leaving. In the meantime, as social equity erodes, we cling to incredibly outdated, divisive and binary 19th Century thinking around politics, race and economics.

It seems overdue that we review whether or not our political system and constitutional arrangements remain fit for purpose. At the very least we finally need to find a unifying sense of direction as a nation that for once does not entirely revolve around sport. We are so very fortunate to live in such a peaceful and beautiful place. But the worry is that the sun is setting and the rest of the world is rapidly leaving us behind.

Paul Spence is a commentator, researcher and a part-time university assistant lecturer in commerce and management. A previous co-founder of a successful New Zealand based global technology venture, co-founder and director of Creative Forest, principal at GeniusNet Research & GeniusReFi and a startup advisor. You can follow Paul on BlueSky @GeniusReFi or Twitter/X @GeniusNet

Genius ReFi Relaunch

Posted on Sunday, 22 March, 2026 by Paul Spence

Following a recent reorganisation of New Zealand’s science research institution structure, the government announced a mandated new pathway for commercialisation of publicly funded science and technology research, starting in 2026. Core funding for research has not increased however. So now is the perfect time to re-launch Genius ReFi our collaborative platform for researchers, investors, entrepreneurs and industry players. Genius ReFi is a new way to meet co-founders, test ideas, seek advice and secure investment for early stage science research based projects with commercial potential.

ReFi Header

Although proudly New Zealand based, we are also open to working with researchers, funders and partners in a catchment spanning Europe – Middle East – Indo-Pacific. These regions are particularly exciting thanks to notable research clusters in renewable energy, life sciences, agritech, fintech, as well as developing AI infrastructure to support all of the above. We also find some of our inspiration in the tales of explorers from the 18th Century who pioneered trade across the region of the world.

New Zealand science and technology Minister, Dr Shane Reti says that a more consistent national approach to intellectual property management is needed in order to reward scientist inventors directly and open up new opportunities for commercialisation. For a small, cash-strapped economy that currently achieves about half the average OECD investment rate into research, science and technology (RS&T), this move can only be beneficial.

The new policy is partially, modelled on the University of Waterloo, Canada approach to commercialisation. Key aspects include that university researchers will have the first right to commercialise their inventions with the option of operating independently or working with their institution for support. University equity in spin-outs will be capped at around 5-10%, so inventors retain the majority of benefits, whilst incentivizing external capital investments. However, public research organisations outside of universities will retain first rights to market discoveries. If they choose not to pursue, researcher inventors may then proceed in their own capacity. The policy marks a substantial change in New Zealand government expectations around achieving a better economic return on publicly funded science.

There are one or two other fish hooks. Unlike the “Waterloo model”, New Zealand’s (new) model gives researchers a first right to commercialise, but not automatic ownership. This is open to negotiation of course. Also, where research or inventions draw upon multiple grants, different parts of the same project may sit under different IP regimes. Ownership can only transfer after disclosure, negotiation and classification. Additional complexity such as this will require careful thinking through by researchers. Would this give typically slow moving research institutions and universities an opportunity to hinder progress? In which case, nothing has really changed.

In a highly dynamic global economy, New Zealand cannot continue to rely on earning a living predominantly from exporting largely unprocessed primary commodities. To secure our future, we must move up the value chain and convert more of our research ideas into global enterprises. Innovation cycles are increasingly shorter so research organisations must act quickly on new knowledge, With geopolitical tensions, climate change and a pending energy crisis – this is more important than ever.

Join the Genius ReFi community

We All Have Mountains To Climb

Posted on Saturday, 4 October, 2025 by Paul Spence

Oskar Anapurna This week my son Oskar has been trekking in Nepal, enjoying some amazing views. I rarely post about family stuff here, but I’m so proud of what he has achieved in recent years. He’s developing into a fine young man with a great range of practical skills that will no doubt help fund his future adventures. I’m so glad I was able to see him off on the start of his trip, when we met up in Saigon a few months ago.

Saigon unatoto

A great deal has happened in my own life since then. I’m facing some mountains to climb of a different kind. But with the support of my family my amazing wife Renea and a brilliant medical support team, I’m pleased to say we are now making progress.

Binary Thinking Distorts Innovation Hub Debate

Posted on Monday, 2 June, 2025 by Paul Spence

Clos Luce Amboise During our travels over the last few weeks I have been assiduously avoiding all New Zealand media and political commentary. We are such a binary thinking and inwards looking nation, it is nice to have a break from it. But I couldn’t avoid seeing the recent remarks from Mayor Brown and Peter Gluckman both alluding to Auckland’s greatness as a “centre for innovation” whilst lobbying (of course) for government support.

Yes the city is home to some amazing tech companies, clever people and is the closest thing we’ve got to a global city. Yes, innovation (in the form of patents) has traditionally been greatest in cities with large populations, agglomerations of industries and multiple high class education facilities. But the world is changing. Digital communications plus the rise of AI and technologies such as blockchain mean you can also build hugely valuable companies with a small distributed team. I think this is something that is often lost in the conversation because we tend to focus on tangible products like rockets or vegan ice-cream.

Here in Europe the EU is actively looking at how to get more innovation happening in the regions, away from noisy crowded cities. This is proving difficult because entrepreneurs tend to cluster where capital is more abundant, even if it means sacrificing lifestyle for a period of time. Paris, Barcelona, London and Berlin are currently the main foci. But will this change as distributed forms of capital raising become more established? Would a distributed innovation approach make more sense?

I mentioned binary thinking earlier. It’s something that holds us back. The concept that economic activity is a zero sum game for example. There always has to be a regional winner or loser. Or equity for one race or social group being at the expense of another. Outside of the current American administration warped mindset perhaps, it’s not how the real world actually operates.

Above is an image from Clos Luce, Amboise, France where Leonardo da Vinci spent the last years of his life. It was certainly a base for innovative thinking of the day. But even then, he succeeded through working with remote teams of talent on projects commissioned from all over Europe – with the enduring patronage of King Francois I. An early form of distributed innovation model.

[ This article was originally published on my LinkedIn channel ]

Paul Spence is a commentator, researcher and a part-time university commerce and management teaching assistant. A previous co-founder of a successful New Zealand based global technology venture, co-founder and director of Creative Forest, principal at GeniusNet Research & GeniusReFi and a startup advisor. You can follow Paul on Twitter/X @GeniusNet

It’s Alive!

Posted on Monday, 29 July, 2024 by Paul Spence

Alps1 My apologies for the radio silence lately. It has been a huge year personally and professionally with a lot of change, many challenges and some big plans finally starting to coalesce. One aspect of this has been our efforts bringing Genius ReFi to life.

Genius Refi is a global collaboration space and news site for researchers, entrepreneurs, investors and industry, with a focus on new ventures deploying regenerative science.

Only around 20-30% of initial science research proposals in universities worldwide actually get funded and only a small proportion of this gets commercialised. Here in New Zealand, compared to other OECD nations, we are doing about half the typical public investment in research science and technology (RS&T) within our underfunded universities. A lot of research is not making it out of the lab at a time when we need to be delivering a great many more solutions for emissions reduction, food sufficiency, environmental regeneration, renewable energy, disease and much more.

So Genius ReFi was born to validate whether or not we could build a (global) community of interest and collaboration space around these needs. Phase 1 is simply a collection of short but inspirational global news stories from me about science research being translated into regenerative products and services. Sitting on our little islands in the South West Pacific, we sometimes forget that 99.8% of business actually takes place outside our shores. So it is good to get insights into what other economies are doing with their RS&T settings whilst receiving inspiration from tech ventures that are out there doing it!

There is another element to this. Increasing the convergence of researchers, entrepreneurs, investors and industry. Because most published science is closed source and researchers are often not entrepreneurs themselves, we don’t know how many commercial opportunities have been missed in the past. In the future some areas of science research are likely to become more open and decentralised. Imagine if we could leverage this and deliver double the amount of science research in the form of scalable, viable businesses that have a regenerative effect on our world. There’s never been a more important task for humanity.

Please join the Genius ReFi Discord channel and collaboration forum.

Paul Spence is a commentator, researcher and a part-time university commerce and management lecturer. A previous co-founder of a successful New Zealand based global technology venture, co-founder and director of Creative Forest, principal at GeniusNet Research & GeniusReFi and a startup advisor. You can follow Paul on Twitter/X @GeniusNet or sign up for a free weekly digest of startup, tech and innovation related events co-curated by him through New Zealand Startup Digest.

Can We Stop The Rot?

Posted on Thursday, 28 March, 2024 by Paul Spence

P1080304 New Zealand faces a polycrisis due to decades of under-investment in public infrastructure. Indicative of this malaise are multiple failing infrastructures, over-stretched health services, decaying school buildings and unsafe civic spaces throughout the country. Stopping the rot will require raising our ambition as a nation and improving productivity through a higher value economy.

For too long our economic performance has been linked to an over-dependence on relatively low value commodities and tourism. As part of its quickfire raffle of “first 100 days” opportunities, the government is looking to “deliberately disrupt the system” by fast tracking gold mines, open-cast coal mining, property developments and bigger dairy farms, to name a few. Unfortunately these kinds of projects mostly lock us into even greater dependence on low value commodity based industries that do not generate the returns required to substantially lift productivity. But doesn’t this help us improve our gross domestic product (GDP)? Yes it does, but the benefits are not shared equitably, with returns often heading directly offshore.

Multi-factor productivity (MFP), on the other hand, represents residual economic growth due to factors (other than labour or capital) such as technological advancements, improved management practices, and a better-skilled workforce. MFP illustrates how successful a nation is at innovating and transforming resources into high value outputs. Over the last two decades or so New Zealand performed terribly compared to other OECD nations on this measure. Arguably, MFP is also the slice of the economic pie that allows governments to steadily improve the quality of public services and investment, as real wealth increases and tax receipts grow. Clearly we are heading in the opposite direction at present.

Quidnet Ventures managing director Mark Bregman illustrated the situation in a recent article discussing the innovation gap. We need to move to an “abundance mindset” and get over our hangups such as misplaced nationalism and the current reluctance of research institutions to back science that has commercial potential, he asserts. Important because one of the keys to creating high value economic returns lies in homegrown research that has future commercial potential. But getting these projects off the ground has always been problematic for a number of reasons, including funding constraints, institutional bureaucracy and lack of entrepreneurial mindset. How we approach science commercialisation must change.

With the nebulus “Te Paerangi – Future Pathways” report now mercifully euthanised by the Science Minister a new plan for research, science and technology now needs to be found. This time a sensible discussion about commercialisation must be included. To this end, the freshly minted Science System Advisory Group and University Advisory Group have been tasked with delivering a new strategic plan for transforming the science and university sectors. This will include (yet another) review of the performance based research fund (PBRF), the contentious pot of public funding that tends to favour larger universities with greater output, rather than promoting innovation or supporting the most important areas of research for society.

But none of this will matter unless we eliminate the institutional and financial roadblocks that are preventing research getting out of the lab and into the commercial sphere. The current model is simply not working at sufficient scale or speed.

Like all good researchers, we are testing some hypotheses around disrupting the status quo and creating more value for entrepreneurial science researchers. Feedback is welcome. To find out more about GeniusReFi – please join us here.

Image credit: Renea Mackie

Data source: Figure NZ under Creative Commons Licence 4.0

Ghost In The Machine

Posted on Saturday, 2 December, 2023 by Paul Spence

The author pitching at Lightning Lab Electric 2017

I first clapped my ears on Ghost In The Machine, the fourth album in the illustrious career of British rock band The Police, as a spotty faced teenager. The cover art for that album features images of three musicians depicted as a glitchy digital display, alluding to the concept of the human mind taking on a digital persona. Rather prescient when you consider that digital music required a stage full of computing power and miles of spaghetti wiring at the time and that this was almost 15 years before public internet arose. Artificial intelligence existed only in the fertile imaginations of authors such as Isaac Asimov and Arthur C. Clarke and their readers. So what does the future hold for digital ghosts and how do we get our timing right in what is today a rapidly evolving field?

Fast forward to 2017 and I was about to experience a brief rock star moment of my own as I spent the most terrifying five minutes of my life presenting to an audience of corporate bigwigs and various supporters. The kernel of that pitch was that machine based technologies would become integral to utilities services management. Nobody got the point and thanks to the conservative nature of the energy industry incumbents, who were sponsoring our accelerator, the project sank without a trace. We had many”learnings” along the way as a team however and I’m glad I participated.

Only six years later, AI is rapidly embedding in almost every sector and obscene sums are being invested in companies providing a vast array of offerings. For starters the venture capital industry itself is being disrupted by artificial intelligence. Deployment of capital into AI is growing faster than almost every other technology sector right now, according to industry monitor Carta. Notwithstanding some concerns over governance, AI looks set to play an increasing role in our lives.

Timing is a big part of building a successful venture. Sometimes timing is even the most significant factor, regardless of the quality of the team or the idea. I’ve got the timing wrong on more than a few occasions in my life. Ideas alone are worthless without good execution and a bit of good luck as well. In most cases, failing fast is the best possible outcome. If AI really is the ghost in the machine and the timing is right now, I wonder if it will help us be more effective entrepreneurs, govern more wisely and be better guardians of the planet?

Paul Spence is a commentator, researcher and serial entrepreneur, a previous co-founder of a successful New Zealand based global technology venture, co-founder and director of Creative Forest, principal at GeniusNet Research & Genius Refi and previously an advisor at ThincLab Canterbury You can follow Paul on Twitter/X @GeniusNet or sign up for a free weekly digest of startup, tech and innovation related events co-curated by him through New Zealand Startup Digest.

Burning Down the House

Posted on Wednesday, 27 September, 2023 by Paul Spence

fires

The 2023 election was supposed to be a climate election. Our last chance to set in place a paradigmatic shift in policies governing the way we treat our planet and thereby setting an example to other nations. Instead, the topic of environment has been almost entirely absent from debate. That says as much about voters as it does about the candidates vying for our attention of course. But we need to lift our heads and focus on the real opportunities, generating better outcomes for everyone, whilst avoiding setting fire to our own home.

Scrolling back through social media activity from the various political parties in the lead up to the election, it is clear that climate change and the environment are not at the forefront of political discourse. That is unsurprising given that polling has “cost of living” as the number one concern for voters. The difficulty is that inflationary cost pressures on households are largely outside of the control of any government whereas parliamentarians can influence how we treat the environment. Moreover, arguably less progressive nations are now surging ahead of us. It is not sufficient simply to state there is a “climate emergency”. Action is also required.

Most disappointing this election is that the New Zealand “Green” Party have ironically chosen to focus on almost everything EXCEPT the environment. Envy taxes, rent controls, income support. So having achieved very little for the environment alongside Labour, the current strategy now seems squarely aimed at eating Labour’s base. At the same time, Green policy is underwritten by divisive identity politics and other failed ideologies from the 20th Century aimed at producing dull, classless societies where thought and discourse is dictated by the State and elites in government control and distribute wealth, rather than individuals. They are completely missing the point.

In fact, what politicians across the spectrum all seem to be missing is our profound failure to meaningfully participate in the emerging global transition economy, a project worth more than US $100 Trilion over the next 25 years. It’s very simple. If we want to address social equity and care for an ageing population, we must generate greater economic wealth. Carbon transition alongside biodiversity regeneration will be one of the largest economic opportunities of our lifetime and good for the planet. Peering at our navels and invoking a victim mentality is not the kind of leadership needed right now.

A supporter of The Opportunities Party this election, Paul Spence is a commentator, researcher and serial entrepreneur, a previous co-founder of a successful New Zealand based global technology venture, co-founder and director of Creative Forest, principal at GeniusNet Research & Genius ReFi and an advisor at ThincLab Canterbury. You can follow Paul on Twitter @GeniusNet or sign up for a free weekly digest of startup, tech and innovation related events co-curated by him through New Zealand Startup Digest.

Bringing Change To The Top Table

Posted on Thursday, 29 June, 2023 by Paul Spence

Lyttleton Harbour, Christchurch

Recently I attended a public discussion delving into “Otautahi Christchurch as an Innovation Hub”. It’s no secret that the city has confronted numerous challenges over the last decade or so. From devastating earthquakes to wildfires and a mass shooting. One could be forgiven for thinking that the place was on its knees. But it’s not. As the central city was being rebuilt, a core group of activators played a pivotal role through charting a course with innovation and collaboration at its core. Now the city is thriving. What if we germinated that approach into central government?

A number of the aforementioned group were present at the recent discussion event. Not the least of these was Raj Manji, who convened the session. As a former Christchurch City Councillor and tireless advocate for the city, Manji is no stranger to the challenges of navigating government processes in difficult times. He’s also a global thinker who takes action and attracts smart people with fresh ideas into his sphere of influence.

These are attributes that seem sadly lacking in many of our current politicians, including those who are likely to be in charge once the face of government changes in October. As The Opportunities Party (TOP) leader, Manji has a real shot at securing the Ilam seat at the general election. This would be a game changer because, under MMP, successful electorate winners get to “tag and drag” along some of their party list candidates. Potentially this means TOP could play a huge part in shaping the next government.

Why is this significant? It’s pretty clear that our current government has run its course and the wheels are falling off the proverbial wagon. Not a week passes where there isn’t either a dramatic exit or a revelation of bad behaviour by Ministers or coalition partner MPs. The present incumbents performed admirably during the pandemic, but the world has now moved on. History has also shown that governing parties very rarely secure three consecutive terms in New Zealand. For its part, the Opposition, whilst more disciplined than before, seem unable to generate intelligent policy or outline a coherent plan. Political change of some form is undoubtedly on the way. The question is – how do we optimise that change?

By standing up and supporting TOP I’m putting a stake in the ground in an effort to facilitate an optimal outcome. We desperately need fresh thinking and evidence based policy driven by responsible adults. If TOP fails to win a place at the table, we face the possibility of an unstable coalition underwritten by dogma and driven by the smug, sneering faces of the more extremist minor parties. Parties that do not necessarily have the interests of ALL New Zealanders at heart. This would be disastrous at this pivotal moment in history when society must act collectively to confront significant global issues.

Paul Spence is a commentator, researcher and serial entrepreneur, a previous co-founder of a successful New Zealand based global technology venture, co-founder and director of Creative Forest, principal at GeniusNet Research & Genius Refi and previously an advisor at ThincLab Canterbury. You can follow Paul on Twitter @GeniusNet or sign up for a free weekly digest of startup, tech and innovation related events co-curated by him through New Zealand Startup Digest.

Bite Me!

Posted on Tuesday, 18 October, 2022 by Paul Spence

bite me I was in a community call today contributing to the good work of the NZ Startup Council. It wasn’t long before somebody popped the “diversity question” into the conversation, complaining that women, migrants and people of colour can’t get help with their startups and do not get a fair hearing from investors in New Zealand. If that is true, I want to do something about it!

For those of you who don’t know me, I’ve been active in the NZ tech community for around 20 years and I’ve seen a lot of bullshitters come and go. I’ve started three companies. One was a great success that we bootstrapped and exited in 2019, another tanked during acceleration and another one ticks along and generates a bit of cash here and there. So I’ve been around the block a few times – as they say.

BITE ME! – Building In The Ecosystem for Migrant Entrepreneurs!

At present I’m a part-time advisor at University of Canterbury incubator ThincLab. I’ve worked with a huge diversity of founders. Young students, women founders, Maori. Founders from all over the world. Germany, Iran, Pakistan, India, Japan, Ukraine, China, United States, France… the list goes on. I’ve especially enjoyed working with founders who identify as neuro-diverse. We certainly have an amazingly diverse group of founders here in Canterbury. Perhaps it is not the case elsewhere?

In startup land it’s important to look beyond our tiny isolated little islands from the outset. A lot of Kiwi founders don’t get this. So diverse founders and especially skilled migrant entrepreneurs bring huge value to our ecosystem. I’ve even started companies with a few of them. So it grinds my gears when I hear people complaining about the “lack of diversity” in our startup ecosystem.

Supporting our skilled migrant entrepreneurs is the fastest way to grow an even more diverse ecosystem, whilst building high value, scalable startups that contribute tangible economic value.

Take a look at We Love Local for example, a corporate gift box provider founded by my friends from Mauritius and Germany. They’ve been growing fast and have received multi-award recognition for their business which was started from scratch only a few years ago. How about Swallowing Technologies. Migrant female founder from academia commercialising her research globally. Caterway, my friends from Japan and Ukraine serving the corporate catering market.

So I’m putting my money where my mouth is by offering a free advisory session.

If you are a New Zealand based e-commerce, cleantech, foodtech, edtech or fintech (especially fintech) migrant founder struggling to make connections, recently arrived or just need some objective feedback on your project. Pitch me! I don’t care if you have lizard skin and shoot purple streamers from your arse. I’ve seen it all, trust me! What I do care about is your ability to execute, sharp intelligence, that you have technical skills and have some kind of workable business model. Oh and a sense of humour and a willingness to listen would definitely be useful.

Let’s talk and see where it leads. Reach me on Twitter or LinkedIn.

If I can’t help – I will probably know someone else who can.

Paul Spence is a commentator and serial entrepreneur, a previous co-founder of a successful New Zealand based global technology venture, co-founder and director of Creative Forest, principal at GeniusNet Research & Genius ReFi and previously an advisor at ThincLab Canterbury. You can follow Paul on Twitter @GeniusNet or sign up for a free weekly digest of startup, tech and innovation related events co-curated by him through New Zealand Startup Digest.

Genius Net

Technology, innovation and entrepreneurship in New Zealand.