Zephyr Technology make special sensors (shown below) to wirelessly collect physiology data like pulse rate and temperature, on people working in extreme conditions such as the military, in rescue operations or on oil rigs. They are named in the 2008 TIN100, as one of the top 100 technology companies in NZ, and their products have even been used by NASA - which is a HUGE endorsement!
It was announced the other day that they have hooked up with Motorola, a NZ$47 Billion a year company, who have bought a stake in their business. I think that is awesome, and I think we need more NZ companies to partner with big multinationals, rather than be scared out of markets because of their size. That way we can really showcase our ability to solve problems and create a reputation as a cluster of innovation. Stories like this one, and the recently formed NZi3 Centre at Canterbury University (partnered with HP and IBM) are paving the way in this respect.