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The $10 billion industry

Paul Brislen, Editor. 19 October 2017, 5:00 am

ICT has become the $10 billion industry in this year's TIN200 report into the sector.

For the first time, the top 200 technology-related companies have crossed the $10 billion a year revenue barrier, with huge growth in financial technology, digital media and the agritech sectors.

Fisher & Paykel's reign as the number one export earner is over as Datacom edged the company out with $1.157 billion in revenue against F&P Appliances' $1.145 billion and F&P Healthcare's $894 million in revenue.

Of the 90 companies valued at over $20 million in revenue each, growth was steady at 8.4% - roughly twice that of those companies whose revenue peaked at below $20 million a year.

Tallied up, the ICT industry is the third largest exporter in New Zealand (behind dairying and tourism) and is equal to around 10% of all New Zealand exports.

This year's report includes a section on Māori-owned tech companies for the first time. Five Māori owned companies or those backed by Māori interests made it to the report, with a combined worth of around $94 million. Waikato Milking Systems is the highest ranked at 38th.

Callaghan Innovation's GM for industry sectors, Hēmi Rolleston says "The Māori economy is a significant and important contributor to New Zealand's economy," and with leaders like Grant Straker of Straker Translations calling for increased Māori participation in the sector, that's likely to continue to be the case for some time.


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