Economic Development Minister Steven Joyce and Communications Minister Amy Adams have launched a new guide to attract more investment in New Zealand’s technology sector.
The Investor Guide to the New Zealand Technology Sector provides investors with the most recent data and insights to encourage them to make informed investments in New Zealand’s thriving technology sector.
Joyce said the New Zealand tech sector is effectively New Zealand’s third largest export earner and accounts for eight per cent of our GDP, which is more than $16 billion dollars.
“We’ve already seen some great success stories in the sector, such as Weta Digital, Xero, Fisher and Paykel Healthcare and Vista Group, and there are many other companies out there that have impressive potential.
“One of the Government’s top priorities is to help these businesses grow through lifting the profile of the sector and attracting more investment from around the world.”
The guide mentions agritech and biotech work in Hamilton and the Central North Island:
Hamilton | Waikato Population: 220k A strong Agritech region with a number of privately held firms specialising in agricultural and livestock technologies
Central North Island | Population: 200k Home to a wide range of companies including High-Tech Manufacturing and Biotech firms.
The guide says agritech sector revenue has increased 5% in the past five years to $865 million.
But agritech revenue growth is being outpaced by other sectors.
Financial Services Technology revenue growth in the past five years has been 23% to $350m; Software Solutions 16% to $310m; IT Services 9% to $1.25bn; Healthcare 7% to $1.47bn; and Production Handling 6% to %410m.
The guide says:
Historically, large High-tech Manufacturing firms such as Fisher & Paykel Appliances and agritech firm Gallagher Group have led New Zealand’s technology sector growth. Today, growth is also led by firms operating in the globally fast-growing sub-sectors of Financial Services Technology, Software Solutions, IT Services, and Healthcare.
Some of these firms are profiled on the guide, a copy of which is available here.
The report has been prepared by Technology Investment Network on behalf of the New Zealand Ministry of Business, Innovation and Employment.