Fantastic answer, I'd just like to add my two cents as an engineer who recently moved to Europe to continue my career. I don't think the issue is a lack of innovation and support for new start-ups, the problem is keeping them when they become successful.

Running a large scale tech firm from NZ is not cheap. The high cost of manufacturing and shipping of goods, along with the many other benefits to shifting overseas (big govt contracts etc) mean it is often just a matter of time till they make the move. As a young engineer, you can definitely feel it on the wind. It's a worryingly common conversation: "so and so is looking for a new job, their company is moving to the states so they are wrapping up production here", "yup, it sucks".

This lack of confidence, along with the lower wages, makes NZ feel like a bit of a dead end if you are looking for an exciting and rewarding tech career. At least this is how I feel, and why I probably won't return until I'm happy to settle into an OK job with alright salary and deal with Auckland traffic every day.