SOUTHERN SOFTWARE

Tech - the new gold

“The desire for gold is not for the gold. It is for the means of freedom and benefit”

- Ralph Waldo Emerson

Transforming queenstown

ECONOMIC REPORT

Southern Software isn’t just another software company. Our goal is to positively transform the Queenstown Lakes District and beyond by making word-class software with our awesome partners (that could be you!). We’re passionate about using the latest software technology to solve real world problems while creating sustainable job opportunities for our community, and we’re serious about having a good time while doing it! We’re committed to finding the most exciting talent to work with the best clients.

The numbers are just a measurement of what everyone in Queenstown lakes has intuitively known. We saw the expansion of tourism for tourism sake and construction for construction's sake. Losing a bit of the magic that the district has along the way. 

We’ve seen the local GDP growth of the area, when adjusted for population growth, sit at a mere 0.6%. With median earnings at 12.28% below the national average, while the median  house price is 15.25% higher than the national average. The town is heading in a direction that is far from sustainable, so where should we aim to head?

Introducing Boulder

A Similar Story

QUEENSTOWN
BOULDER
Queenstown and Boulder Blended mountains

Boulder is a city in the mountains, also known as a tourism destination, not too dissimilar to Queenstown Lakes. However, Boulder has a thriving tech industry. What does that mean for the town? The people of boulder enjoy higher wages, at 29.6% above the national average. The GDP adjusted for population growth is around 1.7%, more than double that of the Queenstown Lakes district.

One of the big drivers of this growth in Boulder is the stream of capital. Boulder saw $140m in venture capital investment in the year to March 2021. That healthy flow of resources into new markets has delivered some outstanding results. Here are 5 of the 862 tech companies in boulder

Company

Description

Rounds

Total Raised

Post-Money Valuation

TextUs

Communications

5

10.3m

~50m

Fanatics

Tech-First sports licensed
E-Commerce cutting-edge company

7

2.4B

12.8b

Wunder Capita

Solar energy provider

7

216.8m

~500m

Automox

IT operations

5

152.6m

~500m

TeamSnap

Sports management platform

8

53.1m

~100-500m

Queenstown Lakes has some remarkable (excuse the pun) value propositions for attracting talent. The lifestyle is second to none. The town not only has all the amenities of a big city, but has some of the best restaurants and wineries in the world. It also has an invaluable network of passionate successful people such as Rod Drury and Mike Casey who has built global companies and are looking to support a fledgling tech industry. This network has grown hugely since covid, which is why now is the time to take action.

When it comes to startups, it is a numbers game. We want to see 10 new tech companies starting in the region per year with the hope that over 5 years, 1 or more of them become Unicorns (billion $+).

NZ as a whole saw NZD 112.2m in venture funding in 2019 across 46 deals. Compare that to USD 140m in boulder alone, you can see we are far behind what needs to be done to hit escape velocity for the region. We need to put more capital in to match the current support and Human capital we have in the region. Southern Software is leading the way in driving this change.

So just as Jack Tewa struck gold in the Arrow river all those years ago, how long until the inevitable happens and tech gold is struck here in Otago?

investment opportunities

opening soon

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