2109 TIN report shows overall growth
For the first time in TIN Report history, New Zealand’s two hundred largest tech exporting companies by revenue – the TIN200 – have broken through the $12B mark in total revenue, and $8B in export earnings. This equates to double-digit growth and total growth over a billion dollars for the second consecutive year, and the third time in the past four years, according to the 15th annual Technology Investment Network (TIN) Report. In other firsts, the Report shows that investment in R&D has surpassed $1B for the first time, and employment numbers in the tech export sector have exceeded 50,000 staff. “We’re delighted to present these record-breaking findings on the performance of the New Zealand tech companies that are exporting Kiwi innovation to the world,” said Greg Shanahan, founder and managing director of TIN. “Through an overwhelming number of key metrics, our tech export sector is sending a strong message that it has the potential to become our country’s leading source of offshore income. We’re very excited to see the potential that this long-term sustainable growth presents.” Mr Shanahan also notes that the TIN Next100 list has outpaced the TIN100 in terms of growth rate, a clear sign that the New Zealand tech sector is not only made up of a stable group of large companies driving the sector forward, but is also developing a strong pipeline of emerging new companies beneath them. The TIN Report monitors the performance of New Zealand’s top 200 (TIN100 and Next100) largest technology exporters in the areas of Information and Communication Technology (ICT), High-tech Manufacturing and Biotechnology, approaching almost 1,000 companies for its survey this year. The Key Highlights from this year’s Report are: TIN200 companies continue their strong upward trajectory, achieving a consecutive year of $1.1B growth in revenue for the first time. […]