The release of the annual TIN report on the performance of New Zealand’s top hi-tech companies shows further rapid growth in revenues, exports, staff numbers, and research and development activity, says Science and Innovation Minister Steven Joyce.
The Technology Investment Network’s 2015 TIN Report reveals New Zealand’s TIN 200 companies collectively grew to $8.952 billion in annual revenue, a $600 million (7.3 per cent) increase over last year.
“The report shows our hi-tech businesses are an impressive growth story that are rapidly diversifying the New Zealand economy,” Mr Joyce says. “Export revenues are up by 7.5 per cent to an all-time high of $6.5 billion and a record 19 companies now have revenues of $100 million or more.
“Job growth across the TIN200 has accelerated with 2410 new jobs created in 2014/15, taking total job numbers to 37,333.”
The report shows companies achieving revenue growth in all regions of New Zealand, growth in all three major technology sectors – ICT, manufacturing and biotechnology – and in every major export market.