NZ firms excel in regional technology Fast 500

December 1 2011

NZ firms excel in regional technology Fast 500

37 Kiwi tech companies make index, with two in top 10 for the first time

New Zealand businesses have again excelled in the annual Deloitte Technology Fast 500 Asia Pacific index of the region’s fastest growing tech businesses, with 37 making the list.

The index, which was announced in Hong Kong today, ranks the top 500 tech businesses according to their revenue growth over the past three years and sets the standard for high growth technology businesses in the Asia Pacific region.

Leading the list of New Zealand businesses was online electricity retailer Powershop, which was ranked 6th on the index with a staggering 5,280% growth, closely followed by mobile phone network 2degrees, which came 7th with 3,762% growth.

They achieved the highest and second highest rankings for New Zealand companies in the Fast 500’s 10-year history. Last month, Powershop and 2degrees were the first and second ranked businesses on the New Zealand Deloitte Fast 50.

In total, 37 New Zealand companies made this year’s Deloitte Technology Fast 500 Asia Pacific index, with eight of those ranked in the top 100. New Zealand had by far the highest representation per capita.

Auckland-based businesses led the way with 17 making the index, while there were 10 from Wellington, Canterbury had five, Waikato four, and Bay of Plenty one.

Leader of the New Zealand Fast 50 programme, partner Matt McKendry, says the continued success of Kiwi businesses on the Asia Pacific Tech Fast 500 shows that New Zealanders are able to foot it with the best entrepreneurs in the region.

“It’s interesting that nearly half these New Zealand businesses are online based, and are using communications technology to overcome our relative isolation,” Mr McKendry says.

“The Fast 500 shows that innovative Kiwi businesses should have no qualms thinking they can’t match it with the best in the world, as long as they get the business model right and stick to their strategic goals.”

In terms of the geographical spread of companies on the Tech Fast 500, the largest number of companies came from Taiwan (133), followed by South Korea with 96, China (86), Australia (53), India (43), New Zealand, Japan (34), Singapore (13) and Malaysia (5). Revenue growth across the Tech Fast 500 ranked firms was on average 476% this year, driven by strong growth in the electronics sector.

The top-ranked business was Chinese online grocery retailer Yihaodian (The Store Corporation) with an astronomical 19,218% growth.

For the full Deloitte Technology Fast 500 Asia Pacific 2010 index, go to www.deloitte.com/fast500asiapac

NZ businesses on the 2011 Deloitte Technology Fast 500 Asia Pacific index by region

Auckland: (first 4 in top 100)
2degrees, 2Talk, Tomizone, Ensid Technologies, ViFX, Brolly Sheets, ClearPoint, Biomatters, Reduced to Clear, SnapComms, KernMobile, Sonar6, Dbvisit Software, SMX, Vista Entertainment Solutions, The Sleep Store, Direct Payment Solutions.

Waikato: Sportsfuel, Torpedo7, Smartrak, Enlighten Designs.

Bay of Plenty: Natureshop.

Wellington: (first 3 in top 100)
Powershop, Midas Infomedia, Xero, Freeman Media, Times-7, Web Genius, Aura Information Security, Silverstripe, Optimal Usability, Telesmart.

Canterbury: (first 1 in top 100)
NZ Tax Refunds, Bluewater Systems, Telogis, Platinum Safety, Energy Mad.

About the Technology Fast 500 Asia Pacific Programme
The Deloitte Technology Fast 500 Asia Pacific programme recognises technology companies that have achieved the fastest rates of revenue growth in Asia Pacific during the past three years. The programme is supported by the Deloitte Technology Fast 50 initiatives, which rank high growth technology companies by location or specifically defined geographic area and is run by Deloitte Touche Tohmatsu Limited’s Technology, Media & Telecommunications (TMT) global industry group.

About Deloitte in New Zealand
Deloitte New Zealand brings together more than 800 specialist professionals providing audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. Our people are based in Auckland, Hamilton, Wellington, Christchurch and Dunedin, serving clients that range from New Zealand’s largest companies and public sector organisations to smaller businesses with ambition to grow.

Deloitte’s local experts draw on best practice and innovative methodologies from around the world as part of Deloitte Touche Tohmatsu. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s approximately 182,000 professionals are committed to becoming the standard of excellence. For more information about Deloitte in New Zealand, go to our website www.deloitte.co.nz

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/nz/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.

ENDS

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