Published on the 04/11/2015 | Written by Newsdesk
Annual TIN100 Report shows a $609m surge to revenues approaching $9B for leading 200 NZ tech exporters…
New Zealand’s technology export sector has shifted up a gear with record growth of $609m (7.3 percent) to combined revenues of nearly $9B for the 200 companies listed in the 2015 TIN100 Report. Strong growth was seen in all major export markets, across all major industry sectors and translated to growth for the tech economy across all regions of New Zealand.
These are some of the key findings of the eleventh annual TIN100 Report, an analysis of the performance of the top 200 New Zealand-founded high-tech companies.
“Although macroeconomic factors played a significant part in the performance, much of the success can be attributed to the hard work and ambition of the companies themselves” said TIN MD Greg Shanahan.
TIN100 said there is a very sophisticated ecosystem operating in New Zealand with companies conscious of what the key success drivers are, and eager to pioneer best practises to achieve market leadership. The increasing strength of the sector can be witnessed in its broad based global performances.
Continuing growth in NZ and the US were to be expected, but TIN100 companies grew strongly in the Australian and European markets also. Exports rose by 7.5 percent to $6.5B, while in the 2014-15 year TIN100 companies increased combined revenue 7.5 percent to $8.2 billion.
The next 100 companies (TIN100+) ranked by revenue grew by 5.6 percent to $754m with exports of NZ$492m up by 8.2 percent.
The TIN100 Report noted the dramatic growth of companies in the Financial Services Technology Sector, the fastest growing in both percent and dollar terms. The 11 companies across the TIN100 and TIN100+ groups grew revenues by $129m (+58 percent).
Six of the twenty high growth companies in the EY Ten companies to Watch and ASB Hot Emerging Companies announced in September were Financial Services Technology companies. These companies demonstrate the rapid scalability and growth possible with Software as a Service (SaaS)/cloud solutions.
“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.
Total R&D spend by TIN200 companies is approaching $1B. “All of this means more jobs, and employee numbers grew by 2,410, to over 37,000 staff. It’s an exciting time for TIN100 companies said Shanahan. “Whilst technology exports aren’t about to knock dairy exports off its perch just yet; watch this space.”
Copies of the report are available in eBook or hard copy and can be ordered from www.tinetwork.com
