Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search

 


100 additional companies each selling over $100m

20 November 2002
12.30pm


ICT taskforce sets growth target
– 100 additional companies
each doing over $100m sales per year by 2012

The Information and Communications Technology (ICT) Taskforce today released its strategy to more than double ICT’s contribution to the economy over the next 10 years.

Currently ICT constitutes 4.3 percent of gross domestic product (GDP) – the taskforce wants this to increase 10 percent, recognising that ICT is an essential component of economic growth in a knowledge-based economy.

“To give you an idea of the size of the task,” said taskforce chairman Murray McNae, “to hit the GDP target we need to grow 100 New Zealand ICT companies each generating more than $100 million in sales annually.

“We’ve only got 16 at the moment.”

Mr McNae said the single biggest issue that needs to be addressed is the lack of commercialisation skills and experience in New Zealand ICT companies for them to successfully go global.

One of the taskforce’s recommendations is that the sector set up a leadership team to “spearhead” implementation of the action plan.

The taskforce also recommends that:
- The ICT sector adopt the target of 100 companies, each generating $100 million in sales in 10 years (100/100/10)
- The ICT sector and government concentrate on expanding the New Zealand-based ICT presence in the global market
- Government ministries and agencies urgently deal with looming skill shortages which the taskforce says is the second biggest constraint on ICT growth
- The ICT sector implement an executive development programme that focuses on commercialisation aspects of fast growing businesses
- ICT awareness programmes to find the next generation of ICT entrepreneurs be run in schools
- Government should consider regulatory issues concerning the sector

Mr McNae said that within the taskforce there was a strong feeling it was time to act.

“While we want to have feedback on the report, we also hope that a strikes a chord with the wider ICT community and provides the basis of an action plan that the whole sector can get behind.”

The taskforce will begin consultations with the ICT sector through discussion and meetings.

Mr McNae said there was much to celebrate in the New Zealand ICT sector with a number of companies already making a mark in the world marketplace with high-value niche products and services. “This is where the greatest potential for growth lies.”

Editor’s notes

1. The ICT taskforce was appointed in May 2002. It consists of business leaders with strong commercial experience. For more information, and to download a copy of the report, visit www.industrytaskforces.govt.nz

2. The taskforce members are:

Murray McNae, Chair (SolNet)

Hon Paul Swain Convenor (Minister for Information Technology and Minister for Communications)
David Bibby (IRL)
John Blackham (XSOL)
Catherine Calarco
Denis Chapman (Spark Ventures)
Jim Donovan (Isambard)
Steve Harris
Peter Maire (Navman)
Ian McCrae (Orion Systems)
Jenny Morel (Morel & Co)
Ian Taylor (Animation Research Ltd)

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Sci-Tech
Search Scoop  
 
 
Powered by Vodafone
NZ independent news