Auckland, 18 November 2020 – Technology Investment Network (TIN) has named the top ten Absolute IT Supreme Scale-Ups in this year’s TIN Report, announced today at its virtual, interactive launch event, Tech Pulse 2020.
The Absolute IT Supreme Scale-Ups 2019 are the Next100 companies (ranked between 101-200 in the TIN200) with the largest revenue growth in the past year. Wellington-based healthcare ICT company Volpara Health Technologies made its debut appearance on the list this year in the first-place ranking, with revenue growth of $7.6m.
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.
“With seven new entrants on this year’s Absolute IT Supreme Scale-Ups list, and all demonstrating impressive growth, the collective performance of these top players on TIN’s Next100 shows their robustness and ability to scale up in an increasingly challenging global market,” said Tracey Johnson, General Manager, Absolute IT, sponsor of the Absolute IT Supreme Scale-Ups 2019.
“It’s apparent that our newfound digital era has eased the previous constraints of size and distance, and many of our small, agile tech start-up firms have been able to scale up to compete on the global stage,” she added.
The combined growth for this year’s Absolute IT Supreme Scale-Ups was $41.7m, representing a collective revenue increase of 62.3%. This vastly exceeds the 7.7% rise recorded across all the Next100 companies.
The 2020 TIN Report shows that export revenue for the TIN200 companies rose by 10.6% to a total of $9.4B this year. TIN200 revenue reached $12.7B in 2020, slightly less than the $1B annual growth recorded in the previous years, but overall, the TIN200 shows ongoing strong growth in the face of tough economic headwinds.
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 (tin100.com)
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 2020.
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. For more information, visit www.tin100.com