TECHNOLOGY INVESTMENT NETWORK NAMES NZX EARLY STAGE COMPANIES FEATURED IN 2019 TIN REPORT
Auckland, 31 October 2019 – Technology Investment Network (TIN) has named the top ten most promising NZX Early Stage Companies featured in this year’s TIN Report, launched tonight at a gala awards event in Auckland.
The NZX Early Stage Companies category recognises promising TIN companies outside of the TIN200 that are in an early stage of the company lifecycle (development, pre-commercialisation or in-market stages). These companies have been selected based on an assessment of the innovation of their technology and the potential market opportunity. The awards category is sponsored by NZX for the first time this year.
“Across Biotech, High-tech Manufacturing, and ICT there’s still plenty of evidence of the Kiwi can-do, humility and hard graft – but our new breed of innovators have shed the old ‘No.8 Wire’ mentality to become a global showcase for technology benchmarks,” said Mark Peterson, Chief Executive, NZX. “The S&P/NZX All Technology Index reflects the great support for technology stocks within our local market, and we’d love to see more Kiwi tech innovators on show.”
It has been an exciting year for the Early Stage technology companies currently tracked by TIN. According to Angel investment figures*, they continue to attract significant investment with total angel investment increasing by 30.6% to $99m in 2018. Investment was spread widely with 99 angel deals, seven more than in 2018. Average deal size broke the $1m mark for the first time; a 21.4% increase. This suggests that companies are catching the eye of investors, both locally and internationally, who are investing more deeply in the companies they choose.
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.
For the first time in TIN Report history, this year the TIN200 has 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.
Notes to Editors
*Angel investment figures are for the 2018 calendar year. This figure includes early stage technology companies only. Source: Angel investment data: PWC/Angel Association NZ (2018).
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 1000 companies in 2019.
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