What are kiwi founders really paying themselves? CIE alumnus Dr Manuel Seidel shares his story

Husband and wife team Dr Manuel Seidel, CEO and Dr Helene Seidel-Sterzik, COO

For the first time in Aotearoa, we now have clear data about how much start-up founders are paying themselves. The newly released New Zealand Founder Pay Report 2025 sheds light on a topic that’s long been whispered about but rarely quantified. Based on real payroll data from 80 founders of New Zealand start-ups and scale-ups, the report offers insights into how pay levels shift based on company size, revenue, founder role and gender. It’s a landmark report for the local innovation ecosystem, and one that gives founders a valuable benchmark as they try to make some of their toughest decisions.

The data shows the average New Zealand founder is earning $205,000 a year, with most waiting around 29 months before drawing any salary. Those with companies earning over $10 million annually are paid more than twice as much as those leading ventures under the $1 million mark. But there is wide variation. Some founders earn less than $50,000, while others make close to $400,000. As expected, salaries increase as headcount and revenue grow. Founders in Auckland tend to earn more than those based elsewhere, and CEO founders are typically paid more than their technical or operations-focused counterparts.

Dr Manuel Seidel, CIE alumnus and founder of ecoPortal, was among those who contributed to the dataset. He says the report offers valuable, timely insights for anyone building a company in Aotearoa. “It’s a helpful benchmark. Every founder I know has had that moment of wondering if they’re paying themselves too much, too little, or just right.”

For Manuel, the decision has always been guided by the long game. “As a bootstrapped founder, I’m paying myself at the lower end of the scale. That’s intentional. I want to invest as much as possible back into the business so we can enhance the value we can bring to our customers.” He adds that it’s not about deprivation. “I make enough to live well, my family is comfortable, and that allows us to stay in the game without needing to sell the company we’ve worked so hard to build.”

ecoPortal’s story began at Waipapa Taumata Rau, the University of Auckland, where Manuel was completing his PhD. Together with three other PhD students and his father, Dr Rainer Seidel, then a Senior Lecturer at the University, they started a consultancy called KBS Sustainable Innovation Partners. They provided sustainability services to businesses while simultaneously conducting research for their theses. Over time, they noticed a pattern. Companies were focused on ticking compliance boxes, collecting policies and procedures in binders that ultimately gathered dust. The consultancy team began wondering if there was a better way to drive genuine change.

They entered the Velocity $100k Challenge, run by the Business School’s Centre for Innovation and Entrepreneurship. While they didn’t win, the feedback from judges proved pivotal. The idea had potential, but the consultancy model wasn’t scalable. That sparked the decision to build a software platform instead. The move from selling time to selling software opened new horizons.

ecoPortal was born from that pivot. Today, it’s the leading health, safety and risk management platform in Australasia. The company now employs over 110 people and serves enterprise clients across New Zealand, Australia, and are now moving into the UK. Their customers include household names like Foodstuffs, Mitre 10, BNZ and Briscoes.

In 2018, Manuel and his wife, Dr Helene Seidel-Sterzik, bought out the other founders. Helene, also a University of Auckland alumna, is now the company’s COO. Under their leadership, ecoPortal has tripled its revenue since 2020 and is steadily expanding into new markets.

A key factor in ecoPortal’s growth has been its strong and intentional company culture. From the outset, Manuel and Helene placed a high value on building a collaborative, purpose-driven environment, one where people feel genuinely connected to the mission. “We’ve always believed that culture drives performance,” says Manuel. “When your team is aligned, motivated, and supported, it shows up in the work. It’s part of why we’ve been able to scale sustainably without compromising on quality.”

What sets the company apart is its ownership model. ecoPortal is 100 percent privately owned, which gives the leadership team the freedom to stay true to their vision.

Manuel explains that while ecoPortal may not have the cash reserves or hypergrowth of a VC-backed tech company, it’s growing steadily at around 30 percent a year. That growth is deliberate and aligned with the company’s purpose. “It’s not just about how fast we grow. It’s about having a world-class product, solid processes and making sure our customers are truly getting what we promise them.” He adds that the company’s success is grounded in creating genuine user engagement. “We want our software to be used, not just bought. So we put a lot of energy into making sure it’s intuitive and helpful.”

The report’s findings also resonate with Manuel’s view on funding. He sees early VC capital as a double-edged sword. “Getting money in the bank is great, but once you take that cheque, you’re committing to someone else’s timeline. It can change your focus from building for your customers to building for investors.”

Instead, he encourages aspiring founders to derisk their journey by starting small. “If you can, begin your business as a side hustle. Ideally while in a job that teaches you something about your market. That way you’re getting paid to learn and you’re not giving up equity just to cover living costs.” He sees this path as more sustainable and believes it gives founders the breathing room to validate their ideas before making bigger commitments.

ecoPortal’s story is one of purpose-driven growth, and its roots in the CIE community are still evident. While the team’s early idea didn’t win the Velocity competition, the experience helped shape a company that now supports safer, more sustainable workplaces across the region. And it all started with a few doctoral students, a curious lecturer, and a willingness to ask what could be done better.

Manuel’s reflections remind us that founder pay is about more than just the money. It’s a window into what a founder values, what trade-offs they’re willing to make, and what kind of company they’re building. For ecoPortal, that means building with care, aiming for quality, and staying in the game for the long haul.