New Zealand firms are in the spotlight for making it to the top 100 of the annual Deloitte Technology Fast 500 Asia Pacific Index. A list of the region's fastest growing technology firms was recently announced in Hong Kong with 40 Kiwi tech companies in the list, and 16 in the top 100.
The Fast 500 Asia Pacific Index ranks the top tech businesses based on their growth in terms of revenue in the past three years. Companies are also evaluated according to their high standards for growth in the Asia Pacific region.
Topping the list of New Zealand firms, online discount booking company Bookme was ranked 18th in the index with 1,359 per cent growth. James Alder and Nick Reekie founded the company in 2010. Bookme was declared the regional winner in Otago lower South Island in the Deloitte Fast 50. Following Bookme is Alphero, a software development company that posted 1,118 per cent growth.
In 2012, only seven Kiwi tech firms made it to the top 100 of the Asia Pacific Fast 500. New Zealand tech firms have improved to get 16 of these companies on the top 100.
China is the only country that has more tech firms in the index with 29 companies. However, New Zealand has the highest representation based on growth. Companies in Wellington shined with 16 making it to the Fast 500. Fifteen of Auckland-based businesses were also in the list, 6 firms from Christchurch, and 1 company each from Queenstown, New Plymouth and Hamilton.
Deloitte Private partner Stephen Nicolas said New Zealand firms have "moved into the upper echelon" and have developed the ability to go toe-to-toe with fast growing tech companies in the Asia-Pacific region. New Zealand companies account for 15 per cent of the top 100 in the index.
Mr Nicolas said the results have clearly shown that despite New Zealand being a small country, it has thriving and innovative tech firms capable of outperforming others from bigger nations. He said New Zealand not only matched the total contribution to the technology index of Japan and other big companies, but also earned more spots in the top 100.
Mr Nicolas believes that the Index presents further evidence that cloud and mobile technologies are leveling the playing field which can help New Zealand firms achieve global success.
Australia has 66 companies in the Deloitte Technology Fast 500 Asia Pacific Index. Topping the list is China Communications Media Group, a communications software company based in Taiwan. They posted 26,585 per cent growth, which is twice the rate of their closest rival.
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