Milestone Moment for NZ Tech Sector - Record 10BN Revenue
Milestone Moment for the New Zealand Technology Sector as TIN Reports Record $10 Billion Revenue
The TIN200 Tech Companies Produce the Equivalent to 10% of all New Zealand Exports
• NZ$10 BILLION: TIN200 TOTAL REVENUE FOR 2017
• 43,437: NUMBER OF TIN200 FULL-TIME STAFF IN 2017
• 4,352: NUMBER OF TIN200 JOBS CREATED IN 2017
• DATACOM: #1 ON TIN100 LIST FOR FIRST TIME, #1 ON EY TEN COMPANIES TO WATCH
• PUSHPAY: RECIPIENT OF INAUGURAL TIN ROCKET AWARD 2017 BIGGEST JUMP IN RANK
• US MARKET LEADS GROWTH WITH 19% INCREASE TO ACCOUNT FOR 24% OF TO-TAL TIN 200 REVENUE
• FINTECH, DIGITAL MEDIA AND AGRITECH ARE THE FASTEST GROWING MARKET SECTORS
Auckland, 17 October 2017 – New Zealand’s top 200 technology companies (the “TIN200”) have set a new milestone this year, recording just over NZ$10 billion in combined revenues with more than NZ$7.3 billion sourced through exports.
The TIN200 companies, which are ranked by revenue, now contribute the equivalent of 10% of all New Zealand exports, highlighting the integral part that the sector plays in the country’s economy. This places it third behind the contributions of dairy and tourism as a source of offshore revenue. Two thirds of the offshore revenue growth can be attributed to a robust 18.8% increase in TIN200 revenues in the North American market.
These are some of the key findings of the thirteenth annual TIN Report, an analysis of the perfor-mance of the top 200 New Zealand-founded high-tech companies in the areas of Information and Communication Technology (ICT), High-tech Manufacturing and Biotechnology.
The Report, which is produced by Technology Investment Network (TIN) and sponsored by New Zea-land Trade & Enterprise, Callaghan Innovation, Spark, EY and AJ Park, was presented at an awards cer-emony held at St Matthew’s in the City in Auckland this evening.
“This has been a defining year for the TIN 200 companies”, said TIN Managing Director, Greg Shanahan. “We’ve seen a sustained increase of around 8% in both revenue growth and exports but more significantly, the real story is in the integral part that the technology sector now plays in the country’s economy.”
TIN200 companies created 4,352 new jobs to employ over 43,000 staff globally with an average salary of just under NZ$84,000. “The broadening economic impact of this growth is creating opportunities throughout New Zealand society”, said Mr Shanahan.
Māori participation in the tech sector is growing and for the first time this year, the TIN Report covers the performance of Māori-owned or Māori-investment backed tech companies. Māori companies contributed an estimated NZ$94 million to total TIN200 revenue.
TIN200 growth has been concentrated outside of Auckland, with other regions outpacing the country’s commercial hub. This year has seen Hamilton, Wellington and the South Island regions leading TIN200 growth. These regions each grew by over 10% and collectively accounted for more than 60% of total TIN200 revenue growth, but only 40% of the total TIN revenue.
Additional key findings of this year’s TIN Report include:
• U.S. offshore revenue for the TIN200 increased nearly 19% to nearly NZ$2.4 bil-lion. The European market grew 3.1% and the Asia market 5.3%
• Healthcare remains the largest secondary sector in terms of revenue for the TIN200 at nearly NZ$1.8 billion
• Companies with over $20 million revenue grew at twice the rate of companies below NZ$20 million. The 90 companies with revenues NZ$20 million and over grew at 8.4%, com-pared to just 3.8% revenue growth for the 110 companies with under $20 million in revenue
Copies of the TIN Report are available in eBook or hard copy and can be ordered from
The award recognises promising TIN companies that are in an early stage of the company lifecycle (development, pre-commercialisation or commercialisation stages) from the 2017 TIN100 Report. These companies have been selected based on an assessment of the innovation of their technology and the potential market opportunity. These are not ranked.
About the TIN Report
The TIN Report is produced by Technology Investment Network with sponsorship from NZTE (New Zealand Trade & Enterprise), Callaghan Innovation, Spark, EY and AJ Park. The TIN Report is a critical reference for benchmarking the performance of New Zealand’s 200 largest globally focused technology companies. The size of the tech industry has grown significantly since 2005 and in recognition of this, TIN collated information on more than 600 companies in 2017
About Technology Investment Network
Technology Investment Network (TIN) is a private company established in 1999 to facilitate the growth of the technology ex-port sector in New Zealand. The company’s goal is to contribute to the New Zealand economy by supporting the growth of, large, sustainable, New Zealand based, global technology businesses. For more information visit www.tin100.com