Deloitte Asia Pacific has released the 2017 edition of its Technology Fast 500 Index, with a poorer showing by New Zealand companies than any time in the last four years. The index ranks the top 500 technology businesses according to their revenue growth over the past three years,
Forty-five New Zealand companies made the grade this year, the first time in four years the number has fallen below 50. Ten New Zealand technology companies made the top one-third of the index and five were in the top 100, compared to fourteen in the top third and seven in the top 100 in 2016.
However, Deloitte said New Zealand’s total was similar to regional heavyweights South Korea (43), Japan (46) and India (53) on the index. China (119) once again topped the index, followed by Taiwan (101) and Australia (90).
And Deloitte Private partner Darren Johnson said the lower total number of New Zealand companies on the index this year should not be a cause for panic.
“The Asia Pacific region continues to be at the forefront of revolutionary digital change and New Zealand is right in the mix. This year’s Kiwi representation on the index is continued evidence that our technology companies are making an impact on the world stage.”
He added: “As we saw in the Deloitte Fast 50, unveiled last month, many Kiwi companies have embraced disruptive technologies; with many in business to help other companies better navigate these technological changes.”
Chinese live streaming platform Wuhan Douyu took the top spot reporting a 70,776 percent growth. Australian online disability support platform Hireup came in second with 7,713 percent growth. Firefly Search was the top New Zealand company, coming in 17th place with 2,156 percent growth.
The index, announced in Hong Kong today, ranks the top 500 technology businesses according to their revenue growth over the past three years, setting the standard for high growth technology businesses in the Asia Pacific region. The second and third highest ranked Kiwi companies were digital money lender Moola.co.nz and mobile payment company Pushpay in 49th and 56th positions respectively.