05 November 2015
New Zealand’s top 200 ICT companies are taking the “bigger better faster” message to heart, with a record $609 million (7.3%) surge in total revenues over the last year.
Their combined revenue now stands at nearly $9 billion, according to the latest TIN100 Report, which is now available.
Strong growth was seen across all major industry sectors and in all major export markets, with exports rising by 7.5% to $6.5 billion.
While the growth is partly due to macroeconomic factors, TIN Managing Director, Greg Shanahan says that much of that success can be attributed to the hard work and ambition of the companies themselves.
“There is a very sophisticated ecosystem operating in New Zealand now with companies conscious of what the key success drivers are, and eager to pioneer best practises to achieve market leadership."
Greg Shanahan TIN Managing Director
The TIN100 Report monitors the performance of New Zealand’s 200 (TIN100 and TIN100+) largest technology exporters in the areas of Information and Communication Technology (ICT), High-tech Manufacturing and Biotechnology. It is produced by Technology Investment Network (TIN) with support from NZTE along with Callaghan Innovation, ASB Bank, EY, and AJ Park.
A highlight was the dramatic growth of companies in the Financial Services Technology sector, the fastest growing sector in both percentage and dollar terms. The 11 companies across the TIN100 and TIN100+ groups grew revenues by $129m –a massive 58% increase.
“The drivers underpinning this kind of growth are new funding opportunities, investment in innovation, scalable business models and compelling company cultures that attract talent, are forming a potent mix that should see continuing growth for the foreseeable future,” said Shanahan.
Copies of the report are available in eBook or hard copy and can be ordered from www.tinetwork.com.