NEW ZEALAND TECHNOLOGY SECTOR - THE INVESTOR'S GUIDE TO THE 2018 EDITION - MBIE
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2018 EDITION THE INVESTOR'S GUIDE TO THE NEW ZEALAND TECHNOLOGY SECTOR
Report objective
This report has been prepared by Technology Investment Network (TIN) on behalf of the New Zealand
Ministry of Business, Innovation and Employment (MBIE).
Incl sion in the TIN top 200 re ires technolo y rms to
T e e ea and o ern ent s In est ent ttract on 1. Originate in New Zealand;
trate a s to ro ote 2. Retain a meaningful presence in New Zealand;
• High-quality foreign direct investment in areas of competitiveness 3. Operate in the High-tech Manufacturing, ICT, or Biotech sectors;
for New Zealand; 4. Have developed their own technology-based intellectual property; and
• Overseas investment in research and development, especially encouraging 5. enerate at least 10% of their reven es offshore.
multinational corporations to locate their R&D activity in New Zealand; and
Information is gathered by surveying companies that satisfy the above criteria. When
• The attraction of individual investors and entrepreneurs to expand a s rvey is not ret rned or is incomplete, p blicly available res are sed. If none are
New Zealand's pool of smart capital. available, reven e is estimated based on staff n mbers, reven e per employee ratios
from comparable companies and data supplied in previous years.
Report Content rther, interviews are cond cted with leadin sector analysts and rms to aid
research and analysis.
i. Opportunities to Invest......................................................................................................................................1
Reasons to invest in New Zealand technology All res in this report are oted in New Zealand dollars nless otherwise speci ed.
ii. Investor Environment .........................................................................................................................................5
Investor activity in New Zealand continues to intensify ector e n t ons
iii. Growth Capabilities and Areas of Competitive Advantage ..................................................... 15 In this report the “High-tech Manufacturing” sector refers to companies that
High growth exists across many industry sectors fall nder the O de nitions of i h-Technolo y and Medi m- i h
iv. New Zealand's Investment Credentials ................................................................................................21 Technology Manufacturing.
A maturing business ecosystem and supportive government promote
The O de nition for I T makes it a cross-c ttin sector that has some
technology success
overlap with these man fact rin de nitions refer to the latest TIN eport
v. Learn More .............................................................................................................................................................27 www.tin100.com for individ al company sector classi cations. The O de nition
of Biotechnology has also been used by TIN to classify companies that fall within the
Methodology “Biotech” primary sector.1
This document draws largely on public and private company data from the annual
TIN eport www.tin100.com of the top 200 New Zealand technolo y rms as e ontacts
determined by revenue). This data has been collected and aggregated by TIN over The report was prepared by the Technology Investment Network (TIN). To contact
the past thirteen years. please email tin100@tinetwork.com. See page 28 for the contact details of other
key information sources.
1
All data is derived or sourced from TIN Report analysis, so that double counting is eliminated.
Investor’s Guide to the New Zealand Technology Sector 2018
01
targeting global problems with market-leading solutions.
$876m
raised by companies for NZ private equity investors in the past 5 years2.
Auckland & Northland 5.0% and venture capital investment in 20171.
Hamilton 21.7%
Speed of growth Scale of growth
7.9% $7.3B
Central North Island 5.7%
revenue growth in the past year.
Wellington 10.5% Spread of growth
Growth is evident across every Technology is New Zealand's
3rd
New Zealand region.
largest export sector.
South Island 11.8%
FinTech Digital Media Company sizes are growing rapidly
48.5% 32.5% 21.5%
now have annual revenues
exceeding $50m.
Contributes: Consists of: Employing:
16.2B of national GDP3. 21,411 4
. 120,350 workers4.
4.8 million
1
NZ Private Equity and VC Monitor, NZVCA/ EY (May 2018). 2
3 4
TechNZ 2017 Update (NZ Technology
Industry Association, 2017).
02 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
easons to n est n e ea and tec no o
New Zealand’s well-connected and fast-growing technology sector thrives on meeting global
challen es, doin more with less and thinkin differently.
entra os t oned and oba onnected tron Tec no o cos ste
ü Great global export base with strong connections to US and ü Developed democracy, ranked rst in the world for ease of
Asian markets, and a comprehensive free trade agreement doing business (World Bank Group).
network primarily in the Asia- aci c re ion. ü Growing, highly educated workforce, with globally competitive
ü World-class fast internet speeds. salary costs.
ü Timezone advantage: compatible with business hours in the ü Safe, established financial markets, with strong angel and
US and Australia, and 12 hours ahead of Greenwich Mean Time. venture capital investor networks.
ü Stable, business-friendly government, with a low-compliance
"Vista Group is a cluster of eight businesses providing technology tax system and government funding to assist research and
solutions to the global film industry; their flagship company development, training, and international growth.
Vista Entertainment Solutions has software installed in over
90 countries, holding 43% global share of the Large Circuit In the year to June 2017, the Government's innovation agency
Market (cinemas with 20+ screens) and with Veezi, its cloud-based Callaghan Innovation committed over $253m to R&D grants, co-
cinema management solution, it is rapidly building a global stable of funding up to 40% of companies' R&D expenditure.
customers in the Small Circuit Market (cinemas with -20 screens)."
New Zealand
Technology
ro t Tec no o o an es t Sector Inno at e an o u ture
or d ead n b t ons ü Rich history of world-acclaimed innovations
ü Growing number of innovative companies with scalable ü Flexible and resilient workforce with a tradition of
business models across the ICT, High-tech Manufacturing and extracting maximum value from minimal resources.
iotechnolo y elds. ü Generalist efficiencies: the broad nature of work in New
ü Globally focused from the outset: with a small domestic market, Zealand often requires employees to be generalists and
New Zealand s technolo y rms need to develop innovations with typically work in smaller development teams, leading to
international appeal and p rs e early offshore e pansion. faster response times.
ü Healthy startup environment with low cost barriers and high ü Ideal test bed for new technologies: As liberal adopters
levels of entrepreneurship. of new technology, New Zealand's small populace are ideal
"beta testers" for a growing number of IT multinationals.
Datacom became New Zealand's largest technology company
with $1.16B in revenue in 2017. It operates across New Zealand, Buckley Systems builds components for the machinery that
Australia, Asia, Europe and the Americas. produces 90% of the world's silicon chips.
Investor’s Guide to the New Zealand Technology Sector 2018
03
tron and susta ned re enue ro t
New Zealand s technolo y sector contin es to row stron ly each year, earnin si ni cant
international revenue.
e enue O er T e (Top 200 NZ technology firms) e enue Growth % of Growth by Region (Top 200 NZ technology firms)
$12.0B
New Zealand Europe
Australia Asia
North America Middle East / Other
$10.0B
sa ME
4% 6%
uro e
New Zealand
5%
21%
$8.0B
2017 ustra a
13%
$6.0B
North
er ca
51%
$4.0B 2017
2009 2010 2011 2012 2013 2014 2015 2016
Data source: Top 200 NZ technolo y rms ranked by reven e , TIN eport 201 .
04 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
an oba ar ets
The top 200 New Zealand technolo y rms are drivin s bstantial reven e rowth in diverse
global markets.
uro e China & In the FY17 year, F&P Healthcare generated more than $150m revenue in the Asia
OT I TO
Revenue Share 12.2%
O O IO
and Pacific region from sales of its medical devices, including respiratory humidifier
Revenue Share 5.3% CAGR 5YR systems and devices for the treatment of obstructive sleep apnea."
-3.1%
CAGR 5YR
8.7% ort er ca
Revenue Share 23.7%
OT I TO
O IO
CAGR 5YR
11.6%
OT I TO
Gentrack Group CAGR 5YR
O IO
provides essential 6.3%
software and services
to utilities and airports. CAGR 5YR
With three European 9.8%
acquisitions during the New Zealand
2017 financial year, the Revenue Share 26.6%
company now serves ustra a
Revenue Share 26.8%
over 80 utilities and 110 dd e ast Pushpay, provider of
airports globally.
& Other mobile donor engagement
Revenue Share 5.4% OT I TO O IO and payment solutions,
CAGR 5YR consolidated its North
American growth in FY17 -
5.3% it now serves half of the top
Temperzone, a leading airconditioning
100 churches in the US.
manufacturer has Australian turnover of
$120m and over 200 staff based there.
Data source: Top 200 NZ technolo y rms ranked by reven e , TIN eport 201 .
CAGR: The ompo nd Ann al rowth ate is the mean ann al rowth rate of an investment over a speci ed period of time lon er than one year. * OA est of Asia.05
Investor Environment
"This country has started to churn out some awfully polished,
extraordinary products... They’re world-class technological
achievements – the work of a well-educated, creative people
bent on competing on the world stage".
Ashlee Vance, American business columnist, author of
"Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future"06 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
In estor act t cont nues to ntens f
With many more emerging technology companies, investment in New Zealand is on the rise.
c u s t ons and st n s b To Tec no o o an es st n s c u s t ons und n Percentage of
o an es b O ners
10 $220m
To tec no o r s
Private Investment-back Private
9 $200m Public Foreign Owned
$180m
8
11.0%
16.0%
$160m
7 11.0%
15.0%
Number of Listings and Acquisitions
$140m
6 12.0%
$120m
11.0%
5
$100m
4
$80m
3
$60m 66.0%
58.5%
2
$40m
1 $20m
0 $0m
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2017 2012
Private equity activity in New Zealand continues to rise steadily. While public listings have slowed recently, CropLogic and Syft Technologies both listed in 2017.
Data sources: NZ rivate ity and Monitor NZ A 2018 , TIN eport 201 . * istin s and Ac isitions are for the nancial year to A st 201 .Investor’s Guide to the New Zealand Technology Sector 2018
07
e ona stren t s attract n estor nterest
i h-performin technolo y rms are not st an rban phenomenon they e ist thro ho t New Zealand.
BT4%
uc and ort and uc and t o u at on 1.535m % OF Hamilton a ton t o u at on 235.9k ICT
The world’s 3rd best city for quality of living1, Auckland is a TOT The fertile Waikato region is home to a number
diverse high-tech manufacturing centre, attracting a range of well-established, privately held agritech
of businesses including robotics, food processing, precision rms specialisin in hi h-tech man fact rin HTM
CAGR 5YR
ICT CAGR 5YR HTM engineering, advanced materials and space technology technologies for the many crop, dairy and 3.0%
7.5% 46%
rms. Its I A innovation precinct forms the fast- livestock businesses in the area.
rowin h b for I T companies incl din medical and ntech
Key areas of growth:
providers, and software, gaming and app developers. uc and
Agritech* 3.3%, Heavy Manufacturing 3.0%
Key areas of growth:
Digital Media* 29.7%, Financial Services Technology* 22.5%
57.6%
Hamilton
entra ort Is and o u at on 870.7k
6.1%
BT
A base for advanced biotech, engineering and
electronics companies specialising in processing, 2.5%
CAGR 5YR
HTM health and productivity, and packing technologies to
3.9% service agricultural businesses in the surrounding e n ton o er ort Is and
regions (Hawkes Bay, Bay of Plenty, Taranaki, e n ton t o u at on 412.5k
HTM
Manawatu-Whanganui and Gisborne Tairawhiti). Wellington city is world-renowned for producing
creative screen-related technologies for movie CAGR 5YR
Key areas of growth: Agritech* 28.4%, Electronics 8.1%
Wellington vis al effects and A .2 New Zealand’s largest ICT 9.4%
21.0%
63%
clo d-based ntech provider and its lar est IT
services and s pport rm are also both based here.
BT r stc urc out Is and Its tech hub innovation precinct supports a growing
r stc urc t o u at on 396.7k
r stc urc number of tech startups including those serving
A high-tech manufacturing hub for the region’s the creative industries and social enterprises.
CAGR 5YR
ITC HTM acclaimed primary industries. Christchurch
36%
3.6% and Dunedin cities also boast a number of 12.8%
Key areas of growth:
Financial Services Technology* 68.2%,
biotech and healthcare technolo y rms.
Software Solutions 27.0%
The region’s many established software uned n
solutions providers address a variety of niche
market needs including tourism souvenir BT: Biotech, HTM: High-tech Manufacturing, ICT: Information and Communications Technology.
imaging, 3D geological modeling and Board DATA SOURCE: even e, re ional sector breakdowns, and A res are for the top 200
management systems. The South Island New Zealand technolo y rms.
offers attractive lifestyle bene ts and a
POPULATION ESTIMATES: Statistics New Zealand Infoshare 2017.
highly supportive ecosystem for startups.
Key areas of growth: Digital Media* 39.8%, * efer to pa es 18-20 for re ional company e amples. 1Quality of Living survey 2017 (Mercer). 2Augmented Reality/Virtual Reality. Pie charts
Operational Support 14.4% show % of TIN200 companies by primary sector in their respective re ions. ey areas of rowth show 5-year A for the fastest rowin
secondary sectors in their respective regions.08 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
e ea and s tec no o co an es e co e n est ent
Investment drives growth: two-thirds of the fastest growing companies are already either
VC backed or publicly funded.
ear e enue for a sa e of ro t co an es ICT Biotech High-tech Manufacturing Public Private Private/VC Foreign Owned
500%
400%
300%
3 yr CAGR %
200%
100%
0
Pushpay
Whanau Tahi
Plexure
Pacific Edge
GeoOp
90 Seconds
Coretex
Vend
Magic Memories
Xero
Invenco
EROAD
Modica Group
Vista Group International
Promapp Solutions
Transaction Services Group
Simcro
Action Manufacturing
Pacific Aerospace
Scott Technology
Compac Sorting Equipment
e enue
Bar colours signify Primary Market SectorInvestor’s Guide to the New Zealand Technology Sector 2018
09
an o ortun t es e st for nternat ona n estors
The rising value of local investment is creating a strong pipeline of early stage
New Zealand companies.
n e and ro dfund n n est ent nto ear sta e e ea and co an es
Angel Investment Crowdfunding – Online offers to retail investors Number of Angel Investment Deals
$120m 135
130
$100m
Colin McKinnon, Executive Director,
125
NZVCA (New Zealand Venture Capital Association)
$80m
120 "The growing presence of international
Amount Invested ($)
Number of deals
$60m
investors in New Zealand early-stage
115
companies is evidence of emerging
confidence in New Zealand tech companies.
$40m Over half the early-stage transactions in 2017
involved international investors. A strong
110
commitment to a New Zealand that is “open for
business” supports New Zealand's
$20m
105
technology industry's growth."
$0m 100
2014 2015 2016 2017
Angel and crowdfunding investment has grown at a compound
NOTE: ity rowdf ndin was introd ced to New Zealand in 201 , followin overnment nancial market reforms nder the inancial average annual growth rate of 17.7% over the past four years.
Markets Conduct Act 2013. Angel Investment data source: NZVIF (2018). Crowdfunding data source: nowball ffect 2018 .10 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
New Zealand's investor base: global and growing
International investors, like those listed below, are impressed by the innovation on offer in New Zealand.
Over half of the investors on record are based in North America.*
Nyriad AFT Pharmaceuticals Performance Labs Xero Latipay
Vend Soul Machines Rocket Lab Simcro Fuel50
Postr Media
90 Seconds Transaction Services Group 8i
Ubco Straker Translations
* Of the 62 TIN-tracked international investors recorded from March 2013 to April 2018, 56% were based in North America.Investor’s Guide to the New Zealand Technology Sector 2018
11
sca at n n estor nterest n e ea and co an es
The past ve years have seen a marked increase in the n mber of offshore investments bein made in
New Zealand technology companies, as these examples show.
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ASX
Xero Fundraising round led
Cloud-based Funding round led
$ by Matrix Capital and
Peter Thiel $49m Received Callaghan
accounting by Craig Winkler Matrix Capital Innovation Accel Partners
Valar Ventures
software provider. NZX $15m $ (MYOB founder) $ Valar Ventures $ $16.6m (USD) $ and Peter Thiel $ growth grant $ Matrix Capital
$23m $4m (USD) $180m $147m
F
Bessemer Venture
Rocket Lab $ artners hosla
Ventures Series B
Rocket systems for fundraising
Received
fast and affordable Seed investor,
hosla ent res
Callaghan
Data Collective
payload deployment. $ Mark Rocket $ Series A $ Innovation $ Lockheed
$ and Promus
fundraising Martin Ventures $105m
growth grant
F
Further fundraising Received Callaghan
Vend attracting new NZ & $ Innovation
growth grant
Australia investors Raised
Cloud-based POS, (e.g. Milford Active Series B funding from New funding
inventory and First round - led Further Growth Fund & Fundraising led new investor from Square
by Point Nine fundraising led Craig Winkler, by Valar Ventures Punakaiki Fund e , asmine
retail management
$ Capital (Europe $ by Point Nine $ MYOB Founder) $ and Square Peg $ & from existing $ Investments and
software. based) $1m Capital $2m $8m Capital $25m investors $12m Movac $13m
F
90 Seconds Further
fundraising Series A
Cloud-based video Seed and angel attractin , Fundraising
production platform. $ investments $ $ A and $ led by Sequoia
$1m investors $1.8m Capital $11m
F
8i
Developers of new Seed Investment
trademarked medium $1.15m. Private Further
Angel Investors Series A Investment Investment led
Holographic Virtual by Time Warner
$ in NZ and $ $13.5m led by RRE $
Reality (HVR). Australia Ventures 37.6m
F
KEY: TIN Hot Emerging Company AWARD RECIPIENT (for being a high growth company, ranked between 101-200 on TIN's revenue rankings for that year)
TIN Ten to Watch Company AWARD RECIPIENT (for being a high growth company, ranked between 1-100 on TIN's revenue rankings for that year) IPO F
Founded $
Investment Round
Amo nts stated in NZ nless otherwise speci ed. ASX: Australian Stock Exchange.12 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
c u s t on act t
lobal leaders have also ac ired a n mber of New Zealand technolo y companies in the past ve years, incl din
the 2017 purchase of PowerbyProxi by Apple (for an undisclosed sum). Other examples are shown below.
T T T I
Target urc ase r ce c u rer ear Tar et escr t on
Board Meeting software to securely
Diligent Corporation Insight Venture Partners 2016 create, distribute and collaborate
on Board reading material.
Appliance manufacturer with
F&P Appliances Haier 2012 over 420 patents.
Network visibility and recording
Endace Emulex Corp. 2013 solutions for security, network
and application monitoring.
Software for accounting practices
Banklink MYOB 2013 across New Zealand and Australia.
Compac Sorting World leading produce sorting
Tomra 2016
Equipment equipment provider.
Advanced vision sorting and
BBC Technologies Tomra 2018 packing equipment.
Noise cancellation and audio
Phitek Systems Amphenol 2017 enhancement equipment.
All res reported in New Zealand ollars sin the e chan e rate at time of sale.Investor’s Guide to the New Zealand Technology Sector 2018
13
What foreign investors are saying...
A number of existing investors are now actively seeking more opportunities to invest in New Zealand
founded technology firms.
Barry Brott, Simon Feiglin, Daisy Cai, Pieter Kemps, Scott Nolan, Mike Weinmann,
Square Peg Capital. The Riverside Company. Baidu Ventures. Sequoia Capital, Singapore. Founders Fund. Capital Royalty Group (CRG).
Investor in Vend. Investor in Simcro. Investor in 8i. Investor in 90 Seconds. Investor in 8i. Investor in AFT
Pharmaceuticals.
“We’re proud to continue “The thing we really like “We are excited to back “The 90 Seconds team “With our team’s history
supporting the team at is that as a small and the extraordinary team has done a terrific job of investing both in NZ "CRG welcomed
Vend. Vend is adding remote country, New at 8i and help bring its in building the leading and in virtual reality, we the opportunity to
value for retailers around Zealand companies superior holographic global marketplace for were thrilled to back partner with AFT
the world by providing almost from conception experience to mass video production. In 8i in solving one of Pharmaceuticals due
an outstanding product think globally, and are audiences in China. the large and rapidly the holy grails of VR: to its diverse product
at an attractive price, structured to achieve At Baidu we envision growing video market, volumetric capture. portfolio as well as its
combined with world that objective.” a future where VR and they offer creative talent Our firm’s approach is compelling research and
class support.” AR can be applied in and agencies a unique to invest in world-class development pipeline...
numerous industries workflow platform teams solving hard We are actively seeking
that serve more than to work together on problems, and I believe other opportunities
one billion monthly global projects. This these companies to partner with similar
active users.” has enabled them to will increasingly be companies."
build a fast growing and located in hubs of
rapidly scaling model.” local expertise. Given
Wellington’s history in
CGI and the technical
talent there, 8i’s
choice of a Wellington
HQ made perfect
sense and was a clear
competitive advantage."14 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
What New Zealand investors are saying...
Lance Wiggs, Chintaka Ranatunga, Matthew Slater, Phil McCaw, Randal Barrett, Brooke Bone,
Punakaiki Fund. Sparkbox. Ngai Tahu Holdings Group. Movac. Pioneer Capital. Milford Asset Management.
“We've seen a jump in "We believe New “[Waikato Milking “It's been a pleasure to “We have invested in “Vend is a young
VC community activity, Zealand is now Systems operates invest in and support a wide range of New exciting cloud-based
but with just 3 or 4 producing a critical in]… a sector where companies like Aroa Zealand technology business with a strong
active local funds we mass of high growth NZ should have a Biosurgery and businesses (nine management team
have a long way to technology companies natural skill-set. It’s a PowerbyProxi over many TIN100 companies) and significant future
go. We need help to which are emerging company where there years. These companies and co-invested growth potential. We
address the hundreds global leaders in a niche, had been considerable are great examples of with a number of are actively looking
of millions of dollars of but lack the capital to IP development and a the quality and depth of international investors. for investments in
high quality investment really scale sales and differentiated product the intellectual property The common theme established businesses
opportunity each year." market expansion. We line, with an international being developed in we see and hear is that with the ability to deliver
are actively looking market that we believed New Zealand, and the they are ‘born global’ high growth rates."
to help with that." had potential to grow outstanding calibre – developing their
and replicate the of the management products, plans and
strength that existed teams that we work people for large global
domestically.” with. We continue to markets practically
actively explore and out of the gate.”
invest in established
New Zealand
businesses with great
intellectual property
and outstanding
international growth
potential.”15
Growth Capabilities and
Areas of Competitive Advantage
“We’ve proven it’s possible to grow and run a global business from New Zealand. Here in New Zealand we have high
quality fibre and internet, which means we are no longer geographically disadvantaged. This was proven in our most
recent financial results in September 2017, showing we have over 1.2 million subscribers in more than 180 countries.
We are also the largest cloud accounting software platform outside of the US. We no longer see ourselves as simple
accounting software but rather a global small business platform, and with over 600 certified add-on partners in our
ecosystem we touch 40 thousand active partners every 60 days. We are a true global platform.”
Rod Drury, Xero Founder & Non-Executive Director16 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
s n nu bers of ear sta e nno at e co an es
su ort est ro t sectors
New Zealand s top 200 technolo y companies incl de many hi hly scalable and lobally foc sed rms.
ear e enue for e ea and s est ro t Tec no o ectors
Sector growth Top 200 NZ technolo y rms
40%
35%
30%
ar o es, Entrepreneur, Co-founder of eParachute
& Silicon Valley technology thought leader.
25%
"New Zealand is becoming one of
5 yr CAGR %
the world's best-kept secrets for
20%
entrepreneurial activity."
15%
10%
5%
0
Financial Services Technology
Digital Media
Software Solutions
Healthcare
Operational Support
IT Services and Support
Agritech
Heavy Manufacturing
Electronics
nne u ton o s, Co-founders, Fuel50.
"We find we can attract great tech
talent from across the globe to
(FinTech)
work with us in NZ, and our home-
grown tech talent is world-leading,
but we can keep our development
costs very competitive."Investor’s Guide to the New Zealand Technology Sector 2018
17
stron e ne of ro s n startu s dr e
cont nued ro t
Here are examples of companies contributing to four of New Zealand's highest growth sectors.
A burgeoning number of startups are following their lead.
e enue ro t b econdar ar et ector
(for Top 200 NZ technology companies)
% Growth Key Contributors to 2017 High Sector Growth
Financial Services
Large Technology Agritech Digital Media Healthcare
Companies
Xero NDA Group Magic Memories Fisher & Paykel
>$30m Revenue
Healthcare
Invenco Argenta Vista Group
Douglas
International
Pushpay Simcro Pharmaceuticals
Ninja Kiwi
62.0% 14.2% 38.4% 7.3% AFT Pharmaceuticals
Bluelab
Mid-Tier Vend 90 Seconds Whanau Tahi
Companies BBC
SmartPay Technologies Plexure Pacific Edge
$2m - $30m 5.4% 2.0% 6.5% 1.3%
Startup 8i Pictor
LatiPay CropLogic
Companies Genoapay BioLumic
Soul Machines Melon Health
(examples) Postr Media
Timely RipeTime Hi-Aspect
Quiver Vision
Insured HQ Engender Breathe Easy
Geo AR Games
PocketSmith Invert Robotics Caldera Health
Pukeko Pictures
Sharesies Techion Group
Rush Digital Interactive Performance Labs
Financial Services Technology Agritech Digital Media Healthcare18 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
In estor ocus High growth sectors that are making waves
Innovation, diversity and growth are demonstrated in New Zealand's Healthcare and Agritech sectors.
Healthcare TO O T I
O OT r tec TO O T I
O OT
Top 200 New Zealand Technolo y ompanies + Innovation friendly compliance Top 200 New Zealand Technolo y ompanies + Strong primary industry.
environment supporting greater
5 YEAR REVENUE GROWTH $650m 5 YEAR REVENUE GROWTH $259m + Large regional centres
product speed to market.
of innovation.
5 YEAR CAGR 9.4% + Highly educated workforce. 5 YEAR CAGR 5.8% + Access to foreign markets.
Healthcare e ona ots ots r tec
Auckland | Home to established global companies like F&P revalent thro ho t New Zealand, a ritech rms are creatin
Healthcare and Orion Health, this region also hosts a range of innovative sol tions to improve the prod ctivity and e ciencies
technical institutions producing top engineering and software of the co ntry s important farmin , shin , food, animal welfare,
talent. A ckland healthcare innovators incl de Auckland biosecurity, and forestry industries.
• Aroa Biosurgery: Developers of regenerative tissue substitute Hamilton
technology. This company is scaling rapidly and reinvesting 75% Hamilton | The fertile Waikato region is home to the annual National
of its revenue into R&D. Agricultural Fieldays show, claimed to be the biggest show of its
kind in the southern hemisphere. The region has produced globally
• Douglas Pharmaceuticals: One of Oceania’s fastest growing Palmerston
North Hastings s ccessf l rms s ch as
eneric pharmace tical companies, employin over 515 staff
and supplying to over 35 countries. • Gallagher Group: Disruptive solutions for animal control, security
and fuel systems.
South Island | This region boasts Otago University medical school • Simcro: Animal health pharmaceutical delivery systems.
and a resourceful talent pool. Innovations range from 3D scanning • NDA Group: High-tech engineering, manufacturing and servicing
and informatics systems for amputees (ARANZ Medical), to power of industrial storage and process vessels for the dairy, food
wheelchair controls ynamic ontrols . Other e amples incl de processing, chemical, gas and wine industries.
• Pacific Edge (Dunedin): Ground-breaking bladder cancer
Christchurch
detection technology. With a three year CAGR of 124.6%, this Central Region | Packing, picking and processing technologies
company is gaining excellent market traction, especially in the US. for the dairy and horticultural industries are a key regional strength.
Dunedin
• MARS Bioimaging (Christchurch): Pioneering new spectral ompany e amples incl de
molecular imaging technology to improve upon traditional • Haden and Custance (Hastings): Automated handling systems to
x-ray techniques. handle and prepare bulk cheese and butter.
• BioLumic (Palmerston North): Ultraviolet (UV) light technology to
Healthcare Agritech improve crop yields for large crop and horticultural growers.Investor’s Guide to the New Zealand Technology Sector 2018
19
In estor ocus Digital Media
New Zealand has established an international reputation for excellence in creative screen-related technologies.
Digital Media TO O T I
+ Creative, highly educated workforce.
O OT
Top 200 New Zealand Technolo y ompanies + Large regional centres of innovation.
5 YEAR REVENUE GROWTH $287m + Globally recognised for innovation in digital media and
entertainment technologies.
5 YEAR CAGR 18.9%
an or d ead n nno ators n t s sector c oose e ea and as t e r creat e o e base t co an es ran n
from Magic Memories d ta a n for t e tour s sector n t e out Is and to a ard nn n a e de e o ers suc
as Ninja Kiwi n t e ort
Auckland
ta ed a ots ots management software is provided by • Weta Digital: Responsible for developing
Vista Entertainment Solutions, the core Oscar winnin special effects for I-
Auckland | Offers a diverse mi of creative business of the Group. Movio, Veezi , forward movies like Lord of the Rings,
technology companies including cloud-
movieXchange, Maccs, Numero, Cinema Avatar and Ghost in the Shell.
based video producer 90 Seconds, and
Intelligence, Powster and Flicks provide
‘Internet of Things’ advertising innovator • 8i: This startup has developed software
an innovative range of complementary
le re. Others incl de to 3D render digital video to create
prod cts across additional lm Wellington
ick and e cient photorealistic h man
• Soul Machines: Oscar winner Mark industry sectors, from production and
holograms for AR/VR and mixed reality
Sagar’s early stage company is at the distribution, to cinema exhibition through
headsets. It has raised over $40m across
forefront of humanizing AI technology. To to the moviegoer experience.
28 investors, exemplifying the growing
date it has raised $7.5m in seed funding
Wellington | An expansive support international interest in New Zealand’s
from foreign investors.
network of creative incubators, Digital Media scene.
• Vista Group: Provides software associations and investors supports this
and additional technology solutions vibrant cultural hub. Some of its world-
across the lobal lm ind stry. inema leadin innovators incl de
New Zealand's Game Development industry grew (YE March 2017), earning
in revenue, with of that reven e comin from e ports.*
* NZ ame evelopers Association, www.n da.com20 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
In estor ocus FinTech disruptors build on international successes
ased predominantly in New Zealand s two lar est cities, inTech companies are rede nin the way we
borrow, lend, save, spend, store and transfer money.
nanc a er ces Tec no o
Top 200 New Zealand Technolo y ompanies TO O T I O OT
5 YEAR REVENUE GROWTH $490m + A business friendly, agile regulatory system that is favourable to innovators
and investors (such as the recent reforms allowing crowdfunding and peer-to-
5 YEAR CAGR 35.1% peer lending).
+ A long history in FinTech (Boards and management teams with experience bringing
companies to maturity).
+ Highly competitive domestic environment – driving innovation and process automation.
e ea and s nTec ots ots
Auckland | Home to a number of ICT companies Wellington | Base for a diverse range of FinTech
specialisin in lobal payment technolo ies, incl din startups focused on portfolio and account analytics,
insurance and government technology. Other more Auckland
Transaction Services Group, Invenco, Payment Express,
Wirecard, Talkingtech and Pushpay. Notable high established e amples incl de
rowth companies incl de • Xero: Cloud-based accounting software provider
• Latipay: With two years of phenomenal growth, Xero delivered another strong half-year result,
Latipay recently attracted a $4.27m investment from achievin positive IT A for the rst time, and is Wellington
bilee apital in apore . The company provides emerging as one of the largest and fastest growing
global businesses with payments across four main listed technology companies in Australasia.
Chinese e-wallets and nineteen main Chinese banks. • DataTorque: With solutions that allow emerging Launched in February 2017,
• Vend: A cloud-based point of sale solution for nations to reduce costs and implement tax law the NZ Financial Innovation and
Technology Association is an
retail businesses, in over 20,000 stores globally. transparently, DataTorque is now trusted by
industry working group with the
The company has attracted investments of $63m governments internationally to collect billions of
mission to connect, promote and
since 2010. dollars in tax revenue. advance the FinTech sector and
its ecosystem in New Zealand.
In 201 , the Asia aci c re ion attracted the lar est amo nt of investment in inTech
with a total of b on, 56% of the world s total ntech f ndin 1.
1
PwC and Startupbootcamp Fintech, 2017. Note: A list of FinTech startup companies is available in the 2017 TIN Report).21
New Zealand's
Investment Credentials
"New Zealand's regulatory environment, IP protection regime and
quality research universities are a big plus for tech investors."
Deepak Natarajan, Former Director - Intel Capital, Singapore.22 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
n nno at e er ta e
New Zealand’s technology sector has a long tradition of combining intellectual smarts with deep practical
skills. Most of the world s pop lation has bene ted from technolo y pioneered in New Zealand. There are
many e amples, here are st a few
JOSEPH NATHAN
forms “Glaxo”- later RICHARD PEARSE BILL GALLAGHER
Glaxo Smith Kline First uncontrolled Invents the electric
(GSK) powered i ht fence A beta "Test Bed" for
new technologies
• First country in the
world to trial EFTPOS*
NOW NOW NOW • Facebook and LinkedIn
Douglas Pacific Aerospace Gallagher Group have both tested new
Pharmaceuticals
Martin Jet Pack ISL Animal Health features in New Zealand
AFT Pharmaceuticals
Simcro before launching globally
BILL PICKERING Tru-Test
BILL HAMILTON eads et • Google Loon: test site for
Waikato Milking
Develops his own Propulsion Lab
Systems balloon-powered internet
version of a water et (US outer space
propelled boat exploration) delivery to remote regions
• Rocket Lab is launch
testing its Electron Rocket
from Mahia Peninsula
NOW NOW SIR PETER - it reached orbit and
JACKSON, deployed customer
Hamilton Jet Rocket Lab SIR RICHARD
ater et prop lsion Rockets to launch TAYLOR &
payloads in an ary 2018.
systems small satellites JAMIE SELKIRK • Autonomous vehicle
form Weta
Digital- visual testing: Volvo recently
effects for tested its self-driving
COLIN MURDOCH BRUCE MCLAREN blockbuster
Invents the disposable Forms racing car movies like The car in Tauranga, and HMI
syringe Team McLaren Hobbit & Avatar Technologies ran its
driverless shuttle trial at
Christchurch Airport.
NOW NOW NOW
Fisher & Paykel Healthcare McLaren Automotive (UK) Weta Digital
No.1 globally in respiratory 8i Developers of new trademarked medium Holographic
h midi cation Virtual Reality (HVR)
Soul Machines Developers of humanising AI technologies
* T O refers to lectronic nds Transfer at oint Of ale .Investor’s Guide to the New Zealand Technology Sector 2018
23
e ea and O en for bus ness
A well-established ecosystem supports New Zealand's technology industry growth.
e ona e eo ent enc es
14 regional Economic Development Agencies provide e red ctab e and a r Ta n ron ent
local support to technology companies. • No general capital gains tax.
• US-based Tax Foundation (2017) ranks New Zealand's overall tax
ature er n nanc a ar ets system as second in the developed world for its competitiveness.
• A long-established stock market, the NZX.
• Five active equity crowdfunding platforms to fund early
tron n e In estor et or
stage companies. • A well-developed network exists of early-stage investment
vehicles for seed capital.
or d ead n Tert ar Inst tut ons
• New Zealand universities are ranked in the world's top 50 o aborat e or n aces
in 22 s b ects and top 100 across 3 s b ects.* • A growing number of collaborative workspaces
• Numerous entrepreneurial development programmes and innovation hubs in all regions.
support student ventures.
Government Policy or d ead n Internet eeds
Initiatives within the Government's Digital • Government has committed to spend over
conomy ro ramme incl de $2B to provide Ultra-Fast Broadband to 80%
of New Zealanders by 2022.
• Establishment of ICT graduate schools.
e istin international bre cables with
• Funding to increase the number of
another under construction.
engineering graduates.
• A Global Impact Visa system encouraging
entrepreneurs and investors to create and support o ern ent u ort enc es
innovation-based ventures from New Zealand. • Callaghan Innovation provides companies with R&D support in the form
• Supporting the establishment of a nation-wide of grants and expert and technical advice.
Techweek event. • 250 New Zealand Trade & Enterprise (NZTE) overseas advisors help
New Zealand companies e pand their offshore operations.
• NZ Venture Investment Fund (NZVIF) supports the early stage investment
*Source: Universities New Zealand, March 2018 market with $245m in funds under management.24 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
u ort e re u ator fra e or
The New Zealand overnment is rmly committed to facilitatin b siness rowth and fosterin
a safe nancial market.
Our us ness ecord
Most transparent country in the world1
Ease of starting a business2 r au a a an, GNZM FRS FRSNZ c rone CEO, Callaghan Innovation
“New Zealand has the “The fourth Industrial Revolution,
fundamentals in place... We where the internet and software
are ranked among the highest meets hardware, is underway.
Ease of doing business2
countries in the world for property A thriving tech sector at the
rights, market freedom, free trade, forefront of new technologies
lack of corruption and legal and such as AI will be critical to the
Getting credit2 political rights. And our taxation success of all our businesses.
rate – personal and business The sustained growth rate of
– is one of the lowest in the OECD.” our TIN200 companies shows
New Zealand is heading in the
Forbes Best Countries for Business3 right direction – and Callaghan
Innovation is focused on
accelerating that pace.”
Protecting minority investors2
I O TIO is New Zealand’s innovation agency. It
connects businesses to the networks, capability and funding they
Heritage Foundation Index of Economic Freedom4 need to make their ideas happen.
Transparency International 2017, 2World Bank Group Doing Business 2018, 3Forbes 2017, 4Heritage Foundation 2018.
1Investor’s Guide to the New Zealand Technology Sector 2018
25
entra os t oned and oba connected
New Zealand has ree Trade A reements in place or proposed with most ma or lobal economies,
a lobal network of overnment s pport o ces, and ltra- ast roadband bre connections which
extend throughout the country and internationally.
Current Free Trade Agreements in
force, largely with countries in the
Asia- aci c re ion and a f rther
8 proposed, under negotiation, or
awaitin rati cation .
milliseconds
Time taken to send data
between New Zealand and the
United States.
International New Zealand Trade
nterprise NZT o ces
with over 250 offshore advisors
helping New Zealand businesses
expand overseas, attract
investment and grow exports.
T T T s KEY:
Countries with current FTAs Countries where FTAs are proposed, under negotiation or awaiting ratification NZTE Office Locations
Kiwi Connection, a new technology centre located in Ho Chi Minh
I
City, is making it easier for New Zealand technology companies to
EXISTING Southern Cross Cable TASMAN 2 Cable Aqualink Cable invest and conduct business in Vietnam.
TASMAN Global Access (TGA) Cable Kiwi Landing Pad, located in San Francisco, helps high growth NZ
technology companies establish and grow their business in the US.
UNDER CONSTRUCTION A AI I able sched led for service ne 201826 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
Key support organisations
Some of New Zealand's many technology sector supporters:
Tertiary / Research and Government and NZ Angel and Seed Investors / Collaborative Spaces, Tech
Development Institutions Industry Networks Venture Capital Transfer Offices and Incubators
Angel & Seed Investors:
NZ Wide
Venture Capital:
Auckland &
Northland
Hamilton &
Waikato
North Is.
Central
Lower North Is.
Wellington &
Christchurch/
Other South Is.
Page 32 lists contact details for the key NZ-wide organisations.27
Learn More
“What I like about the ideas I've seen coming out of New Zealand
is that they are fundamentally based on science and technology
innovations. The innovation comes first and, oh by the way...
you can use it to build a good business. I think that is the
right priority... and that's exciting!”
Vinod Khosla, Founder of Khosla Ventures, Co-founder of Sun Microsystems, former general partner
at Kleiner Perkins Caufield & Byers. Investor in Rocket Lab, BioDiscovery, Lanzatech28 Opportunities to Invest Investor Environment Growth Capabilities NZ's Investment Credentials Learn More
ontact Infor at on
More information abo t New Zealand s top 200 and start p technolo y rms can be fo nd in the
annual TIN100 Report (www.tin100.com).
T O T Economic Development Unit: www.otagochamber.co.nz e n ton o er ort Is and R9 Accelerator: www.r9accelerator.co.nz
NZ Ministry of Business, Innovation and Employment: Venture Southland: www.venturesouthland.co.nz Angel HQ: www.angelhq.co.nz Venture Up: www.ventureup.co.nz
www.mbie.govt.nz Vic Link: www.viclink.co.nz
O O r stc urc Ot er out Is and
New Zealand Immigration: www.newzealandnow.govt.nz
Canterbury Angels: www.canterburyangels.nz r stc urc Ot er out Is and
New Zealand Trade and Enterprise (NZTE): www.newzealandchambers.co.nz
Ice Angels: www.iceangels.co.nz Bridge Street: www.bridgestreet.co.nz
www.nzte.govt.nz
IO O O I O T I Otago Angels: www.otagoangels.co.nz EPIC Innovation: www.epicinnovation.co.nz
Callaghan Innovation: www.callaghaninnovation.com
EDANZ: www.edanz.org.nz Green House: www.green-house.co.nz
NZ Venture Investment Fund (NZVIF): www.nzvif.co.nz O O TI T T
Innovation Precinct Christchurch: www.innovationprecinct.nz
Kiwi Landing Pad: www.kiwilandingpad.com I TO T IT O I I TO
The Distiller: www.thedistiller.org
New Zealand Private Equity and Venture Capital Shared Space: www.sharedspace.co.nz
I T O I TIO T O Vodafone xone: www.vodafonexone.nz
Association (NZVCA): www.nzvca.co.nz
Technology Investment Network (TIN): www.tin100.com uc and ort and
Angel Association New Zealand: www.angelassociation.co.nz T TI
New Zealand Technology Industry Association (NZTech): AUT Business Innovation Centre: www.aut.ac.nz/research/
Cure Kids Ventures: www.curekidsventures.co.nz O T I TIT TIO
www.nztech.org.nz abo t-the-research-and-innovation-o ce
Open Polytechnic: www.openpolytechnic.ac.nz
NZ Institute of IT Professionals: www.iitp.nz Global From Day One: www.globaldayone.com AR/VR Garage: www.arvrgarage.co.nz
KiwiNet: www.kiwinet.org.nz
The New Zealand Game Developers Association: GRC: www.grcpartner.com Astrolab: www.astrolab.co.nz
Plant & Food Research: www.plantandfood.co.nz
www.nzgda.com K1W1: www.crunchbase.com/organization/k1w1 Biz Dojo: www.a ckland.bi do o.com
Tech Futures Lab: www.techfutureslab.com
FinTechNZ (NZ Financial Innovation and Technology Milford Asset Management: www.milfordasset.com Generator NZ: www.generatornz.com
North Tec: www.northtec.ac.nz
Association): www. ntechn .or .n Grid Auckland: www.gridakl.com
Movac: www.movac.co.nz The University of Auckland: www.auckland.ac.nz
The MacDiarmid Institute: www.macdiarmid.ac.nz eCentre Massey: www.ecentre.org.nz
Pacific Channel: www.paci cchannel.com Auckland University of Technology: www.aut.ac.nz
TiDA: www.tida.co.nz Flux Accelerator: www. accelerator.co.n
Pioneer Capital: www.pioneercapital.co.nz Auckland ICT Graduate School: www.ictgraduateschool.ac.nz
NZRise: www.nzrise.org.nz Icehouse: www.theicehouse.co.nz
Powerhouse: www.powerhouse-ventures.co.nz Unitec Institute of Technology: www.unitec.ac.nz
IO I T Industry Connect: www.industryconnect.co.nz Whitireia: www.whitireia.ac.nz
Punakaiki Fund: www.punakaikifund.nz The Distiller: www.thedistiller.org
Northland Inc: www.northlandinc.co.nz Manukau Institute of Technology: www.manukau.ac.nz
Sparkbox: www.sparkbox.vc UniServices: www.uniservices.co.nz
Grow North Innovation District: www.grownorth.co.nz Massey University: www.massey.ac.nz
Tuhua Fund: www.crunchbase.com/organization/tuhua-fund Velocity: www.velocity.auckland.ac.nz AgResearch: www.agresearch.co.nz
ATEED (Auckland Tourism, Events & Economic
Development): www.businessaucklandnz.com uc and ort and Hamilton University of Waikato: www.waikato.ac.nz
Waikato Innovation Park: www.wipltd.co.nz Arc Angels: www.arcangels.co.nz Soda Inc: www.sodainc.com Wintec Institute of Technology: www.wintec.ac.nz
Waikato Means Business: www.waikatomeansbusiness.nz Waikato Link: www.waikatolink.co.nz Eastern Institute of Technology: www.eit.ac.nz
Astrolab: www.astrolab.co.nz
Tauranga Chamber of Commerce: www.tauranga.co.nz Toi Ohomai Institute of Technology: www.toiohomai.ac.nz
First Cut Ventures: www. rstc t.vc entra ort Is and
Venture Taranaki: www.taranaki.info Victoria University of Wellington: www.victoria.ac.nz
Flying Kiwi Angels: www.fka.nz Basestation: www.basestation.nz
Activate Tairawhiti: www.activatetairawhiti.co.nz Wellington Institute of Technology: www.weltec.ac.nz
Foundry Innovations: www.foundryhq.com Building Clever Companies: www.thebcc.co.nz
Hawkes Bay Business Hub: www.hbbusinesshub.co.nz Wellington ICT Graduate School: www.wellingtonict.ac.nz
Icehouse: www.theicehouse.co.nz
CEDA (Central Economic Development Agency): Ice Angels: www.iceangels.co.nz Lincoln University: www.lincoln.ac.nz
WNT Ventures: www.wntventures.co.nz
www.ceda.nz Waterman Capital: www.waterman.co.nz University of Canterbury: www.canterbury.ac.nz
WREDA (Wellington Regional Economic Development e n ton o er ort Is and University of Otago: www.otago.ac.nz
a ton and entra ort Is and Biz Dojo: www.wellin ton.bi do o.com
Agency): www.wellington.govt.nz/your-council/wreda Southern Institute of Technology: www.sit.ac.nz
NRDA (Nelson Regional Development Agency): Enterprise Angels: www.enterpriseangels.co.nz Creative HQ: www.creativehq.co.nz Otago Polytechnic: www.op.ac.nz
www.nrda.co.nz Launch Taranaki: www.launchtaranaki.co.nz Enspiral Space: www.enspiralspace.co.nz Nelson Marlborough Institute of Technology: www.nmit.ac.nz
Development West Coast: www.dwc.org.nz Manawatu Angel Investment Group (MIG): Lightning Lab: www.lightninglab.co.nz Ara Institute of Canterbury: www.ara.ac.nz
Canterbury Regional Business Partners Ltd: www.cdc.org.nz www.thebcc.co.nz/investment/mig-angels Mahuki: www.mahuki.org Scion: www.scionresearch.com
Otago Chamber of Commerce and Dunedin City Council - WNT Ventures: www.wntventures.co.nz ProjectR: www.twitter.com pro ectrn Signal ICT Grad School: www.signal.ac.nzInvestor’s Guide to the New Zealand Technology Sector 2018
29
bout us
The Technology Investment Network (TIN) is a private company with a simple mission:
to help facilitate the rowth of the technolo y sector in New Zealand. It delivers on this ob ective
through the following key endeavours.
esearc and na s s business-critical topics that are of high
interest to sector participants.
TIN is the leading independent source
of information on the technology sector; The organisation also produces free
the organisation has been collecting bi-weekly electronic updates on
and analysing company data for over New Zealand technology sector news.
a decade. The annual TIN Report For more information about TIN or to The Ministry of Business,
(released in October each year) is a purchase our latest report, visit our Innovation and Employment
comprehensive listing of the year’s top website www.tin100.com is the Government’s business
200 high technology companies (ranked facing agency, with a wide
by revenue), along with information about range of policy and operational
This 2018 edition of The Investor's responsibilities including
innovative technolo y start p rms. It
Guide to the New Zealand Technology innovation, enterprise, sector,
also includes detailed analysis of sector
Sector will be relaunched as part ICT and digital economy policy.
performance for the year.
of New Zealand's Techweek in May
In addition, the company undertakes 2018. Techweek brings together
research and analysis on request for
ne ea andno o tn
the technology sector, the wider
industry participants, professional business community, and New This New Zealand Government
services rms, investors and Zealanders from across the country immigration website provides
Government clients. to promote New Zealand as a high- an overview of the main investor
tech nation. It brings investors migration policies, as well as
Networking and and ICT talent to New Zealand, useful information about New
Infor at on ar n inspires youth to get into tech, and Zealand’s business environment
encourages business uptake of ICT and investment opportunities.
TIN organises a number of industry through events in various regions.
events each year, based around
Technology Investment Network Ltd (TIN) has taken every care to ensure that all data is accurate at the time of writing. It accepts no liability for inaccuracies or factual errors.
Copyright is reserved by Technology Investment Network Ltd. TIN contributors: TIN Managing Director - Greg Shanahan, Research & Operations Manager - Deanne Bloom,
Data Research Analysts - Mihnea Enache and Hugh Blackburne. Design and print production: MOSHA.
ISSN 2463-7025 (Print). ISSN 2463-7033 (Online).You can also read
