What a huge boost to New Zealand’s innovation ecosystem the launch of Icehouse Ventures will be.The unlocking of Kiwisaver and managed NZ funds signals a potential sea change for investment in the technology export sector. It’s another clear indicator of how significant a part of NZ’s export economy tech has become, and the increasing recognition of this fact by the mainstream NZ business community. At TIN we’ve long charted the rise of New Zealand’s tech sector and this year we’ll be surveying nearly 1,000 companies reflecting the massive growth of the sector since the first TIN Report in 2005.Last year, our top 200 tech companies notched up over $11 billion dollars in revenue – including $8 billion dollars in exports – with record-breaking profitability and growth, and employing more than 47,000 people in tech jobs. With further sustained growth – and support from the likes of Icehouse Ventures – we believe that the tech export sector has the potential to become our country’s leading source of offshore income.
We kick off a new series on Billion Dollar Businesses this week with a look at homegrown tech superstar Datacom, which led the TIN rankings in 2017 and again last year with revenue of nearly $1.3 billion. CEO Greg Davidson says their constant focus is on understanding what their customers need and then working with them to deliver to those needs.
Greg & the TIN Team
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