For those with links to Israel, 2024 will be remembered as one of the most challenging years in recent memory. This sentiment rings true for the New Zealand Israel Innovation Hub and for anyone working to connect Israel’s tech and business sectors to the world. The backdrop of the devastating Hamas-Israel war cast a long shadow over bilateral activities, slowing trade and collaboration in many areas. Yet, despite the challenges, significant achievements and milestones emerged, elevating the profile of the relationship between New Zealand and Israel and highlighting the resilience of the people and organisations driving these efforts. Now, as the year draws to a close, it’s a fitting moment to reflect on these accomplishments and set the stage for the year ahead.
Some of the most notable developments in 2024 were the success of several New Zealand Israel business collaborations. For instance, Miruku, an NZ based startup secured $5 million in funding to expand its molecular farming platform for producing dairy proteins and fats, with plans to conduct field trials in Australia. This achievement underscored the potential for biotech innovations to redefine the food industry on a global scale. Similarly, CropX, a standout agtech success story born from New Zealand-Israel partnership, further cemented its position as a leader in sustainable farming by acquiring EnGeniousAg for its breakthrough nitrogen sensing technology. CropX also unveiled a first-of-its-kind sensor for optimising irrigation, demonstrating an unwavering commitment to tackling agricultural challenges through innovation. Later in the year, a significant geothermal energy partnership between New Zealand and Israel’s Ormat was announced, paving the way for a more sustainable and energy-secure future for both nations.
Trade between New Zealand and Israel also saw significant and interesting developments. While New Zealand exports to Israel hit their lowest point since 2012, Israeli exports to New Zealand surged despite geopolitical complexities, reaching a record $224 million NZD for the year ending June 2024. This imbalance highlights the growing demand for Israeli technology and expertise in New Zealand and reinforced the importance of fostering trade ties.
An example of this demand for innovation and expertise can be demonstrated by the recent announcement by ECOncrete, an Israeli construction startup, that Wellington’s Te Ara Tupua project, was installing its tide pool armour, an innovation that creates nearshore habitats for marine life and coastal birds.
In terms of ecosystem-building events, the New Zealand Israel Innovation Hub played a role in fostering connections and knowledge exchange. The Hub’s second annual luncheon in August was a standout moment, hosting respected thought leaders such as Anya Eldan, an Israeli venture partner and ecosystem builder, and Sir Peter Gluckman, a prominent Kiwi voice for science and technology. The event offered attendees a unique opportunity to delve into global perspectives on tech ecosystem development and resilience.
December marked another milestone for the Hub with its first end-of-year professional networking event in Wellington. Hosted at Lulu Bar and sponsored by Cyberpro.AI, the gathering brought together over 70 entrepreneurs, tech professionals, academics, and civil servants, creating an invaluable platform for building relationships and exchanging ideas. This event capped off a year of dynamic engagement and set a positive tone for future collaborations.
December also marked the conclusion of Israeli Ambassador Ran Yaakoby’s tenure in New Zealand. His efforts to facilitate trade deals and strengthen bilateral relations were instrumental in achieving many of this year’s successes. As he returns to Israel, the New Zealand Israel Innovation Hub extends its gratitude for his contributions and wishes him continued success. We look forward to welcoming the new Ambassador early next year.
Looking ahead to 2025, the groundwork laid this year provides a strong foundation for further growth and collaboration. While 2024 was fraught with difficulties, the achievements and milestones it brought forth stand as a testament to the resilience and determination of those working to connect New Zealand and Israel business and tech sectors.
In 2025, we anticipate that the Hamas Israel war will end, that the Israeli tech ecosystem will receive a large funding injection thanks to advancements in cyber, quantum computing, AI and defence-tech. We also anticipate New Zealand’s business and tech sectors will get back on track thanks to lower interest rates, deregulation, and an encouraging business atmosphere will provide a welcome boost to tech collaboration and entrepreneurship.
As always, the New Zealand Israel Innovation Hub maintains its shared vision for mutually beneficial progress, and we look forward to further strengthening the bonds between the two nations in the coming year.
Lastly, to our friends and colleagues, we wish you a successful, healthy and prosperous year ahead. To those celebrating Hanukkah, Chag Sameach and to those celebrating Christmas, we wish you a happy holiday season!
Josh Brown
On behalf of the New Zealand Israel Innovation Hub
