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Top tech companies contribute a record $10b to New Zealand economy

open this image in new window: Tin200 2017

This article was published on 18 October 2017

Science and Innovation Minister Paul Goldsmith has applauded New Zealand’s leading hi-tech companies for achieving a combined annual revenue of $10 billion this year.

The record-breaking figure has been revealed in the annual Technology Investment Network’s TIN Report, released in Auckland yesterday (17 October). The report highlights the increasingly important contribution that Kiwi innovative hi-tech companies make to New Zealand, Mr Goldsmith says, with the TIN200 being New Zealand’s third largest exporting sector.

The TIN Report is an analysis of the performance of the top 200 New Zealand-founded hi-tech exporters by revenue in the areas of Information and Communication Technology (ICT), Hi-Tech Manufacturing and Biotechnology.  Top performers include Datacom Group, Fisher & Paykel Appliances and Healthcare, Xero, and Gallagher Group.

This year’s report also profiles several Māori-owned or Māori investment-backed technology companies that are making a significant contribution to New Zealand’s technology sector.

“The Māori economy is a significant and important contributor to New Zealand’s economy,” said Hēmi Rolleston, General Manager Sectors at Callaghan Innovation. 

“Estimated to be worth NZ$50 billion, the Māori economy is playing an ever-increasing role in the technology economy.  “In a world of increasingly fast-paced technological change, we need to embrace the future by encouraging more marriages between Māori and technology.”

Other highlights from this year’s report include:

  • The TIN200 tech companies produce the equivalent of 10% of all New Zealand exports
  • They have created 4,352 new jobs to employ over 43,000 staff globally
  • TIN200 growth has been concentrated outside of Auckland - Hamilton, Wellington and the South Island regions are leading TIN200 growth
  • Fintech, digital media and agritech are the fastest growing market sectors
  • A 7.9 per cent increase in research and development investment to $882m.

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