19 December 2023
Kia ora koutou,
Meri Kirihimete! As we come to the end of 2023, this TINWire is a check-up on healthtech. We’ve gathered together commentary from key healthtech companies on the year’s highs and lows: Fisher & Paykel, Douglas, Orion, and AFT.
But first, a little data stocking-stuffer. As the visualisation below shows, the growth of the tech sector over the past ten years is largely due to the stratospheric growth of firms with over $200m in revenue. As these giants expand, they pull the centre of gravity of the ecosystem upwards, prompting greater growth for all. The critical mass of expertise, global connections, and capital created by the titan firms spawns exciting spinoff start-ups and scale-ups. The median firm revenue in the TIN200 has increased in the last decade from $13.6m to $26.8m.
For almost two decades now TIN has tailed the country’s tech trailblazers. Next year will be our 20th report and we have lots of exciting plans to showcase our longitudinal data. In this time, NZ’s tech sector has spawned nine unicorns, 34 firms with revenue over $100m, 9,315 start-ups, and some 36,800 new local jobs. If this trajectory continues, we’ll see the TIN200 collective revenue topping $28B in five short years.
Wishing you all a wonderful summer break and we look forward to working with you in 2024 to make this projection a reality.
Ngā mihi o te tau hou,
The TIN Team
Left to right: Chelsea McDonald, Alex Dickson, Meagan Rootman, Greg Shanahan, Bettina Sinclair, Alvaro Gunawan, Lucy Diver, Wynton Brick.
TIN Member & Sponsor News
BNZ: Key Trends in 2023 and How to Scale Up in 2024
Find out the one development that Tim Wixon from BNZ would like to see in the tech ecosystem in 2024 and beyond, and how advisors and founders can achieve their scale-up goals.
NZGCP’s Best Investments this Year in Healthtech and Cleantech
Jacques Richter highlights the innovative firms decarbonising the planet and democratising healthcare that NZGCP has welcomed to their portfolio in 2023.
Fisher & Paykel Healthcare: The Next 100 Years
Hear from NZ’s leading healthtech firm about how they manage supply chain networks, attract skilled staff, and plan for a sustainable future.
How Automation Levels the Playing Field for Douglas
Automation and digital technology have allowed this family-owned business to scale up into NZ’s most significant pharmaceuticals manufacturer – COO Rod de Spong explains how.
Unlocking the Right Data at the Right Time with Orion
Orion Health believes that for AI to be truly transformative in healthcare, it needs the ability to access the right information, at speed, via centralised platforms. Discover how Orion is making this happen.
How AFT Is Ramping Up R&D – and Funding It Internally
AFT’s roadmap is to increase its international sales from 8% to 35% – learn what their roadmap is to achieve this ambitious goal.
ASX-Listed Neuren Pharmaceuticals Launches Ground-Breaking Drug for Rare Disorder
In March, the FDA approved Neuren’s treatment for Rett syndrome, a genetic neurological disorder, and in Q3 the company netted US$66.9m in sales. Read about how the product was launched.