TECHNOLOGY INVESTMENT NETWORK NAMES EY TEN COMPANIES TO WATCH IN 2021 TIN REPORT
Auckland, 4 November 2021 – Technology Investment Network (TIN) has named the EY Ten Companies to Watch in this year’s TIN Report, announced today at its virtual launch and awards event.
The EY Ten Companies to Watch list includes the TIN100 companies with the largest revenue growth in 2021. Now in its 13th year, the EY Ten Companies to Watch list has continued double-digit growth with 25.6% this year, increasing revenue by $1.30B to amass a combined $6.39B in revenue. This represents 90% of the total growth for TIN200 and is more than double the growth of last year’s Ten to Watch list.
Fisher & Paykel Healthcare tops the list for the second year in a row, with revenue growth in 2021 of $707m, to reach a total revenue of $1.97B. This remarkable revenue growth also lifts them to the number one spot on the TIN200 for the first time in TIN’s history, after many years in the top five.
With their respiratory products still in high demand around the world due to the ongoing COVID-19 pandemic, more than 20 million patients globally have been treated with Fisher & Paykel Healthcare devices in 2021.
The TIN Report monitors the performance of New Zealand’s 200 (TIN100 and Next100) largest technology exporters in the areas of Information and Communications Technology (ICT), High-tech Manufacturing and Biotechnology. It is sponsored by New Zealand Trade and Enterprise, Absolute IT, BNZ, EY, James & Wells and NZX.
“Innovation continues to be seen across a range of sectors, including fintech, high-tech manufacturing and agritech, which we can clearly see reflected in this year’s EY Ten Companies to Watch,” said Tim Benbow, R&D tax leader at EY.
“The New Zealand tech sector continues to grow quickly, outpacing growth in the overall economy, and has seen more than $200 million of growth funding being raised so far this year. This is also true for the EY Ten Companies to Watch, which have all had an incredible year seeing average revenue growth of 25.6% and staff increase by 3,000 globally.”
This year saw two new entrants to the EY Ten Companies to Watch list: Fintech ICT company Laybuy, and high-tech agricultural technology manufacturer Bluelab.
According to the 2021 TIN Report, the TIN200 companies passed a landmark in 2021, recording $10.4B in export revenue from nearly $14B in combined revenue; signs the tech sector is growing in maturity and vital to New Zealand’s economic success. Revenue growth was more than $1.4B; once again breaking the $1B barrier.
For more information please contact:
Mob. +64 21 522 103
Greg Shanahan, Managing Director, Technology Investment Network
Ph. +64 9 445 0362
Mob. +64 27 435 6045
About the TIN Report
The TIN Report is produced by Technology Investment Network with sponsorship from New Zealand Trade and Enterprise, Absolute IT, BNZ, EY, James & Wells and NZX. 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 sent surveys to approximately 1,000 companies in 2021.
About Technology Investment Network
Technology Investment Network (TIN) is a private company established in 1999 to facilitate the growth of the technology export 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.