New Zealand game developers’ $323.9 million earnings in the last financial year is a perfect example of just what is happening across the rampant tech sector, NZTech chief executive Graeme Muller says.
It is fantastic to see the continued growth of New Zealand’s interactive media and game developers, making $121 million more in one year, Muller says.
‘However, this is a great example of the continued growth and success of the whole Kiwi tech industry. New Zealand tech firms have been incredibly resilient as covid-19 impacted most sectors across the economy this year.
‘We are seeing sectors like the game developers growing exports at exponential rates, local IT companies working through the night helping other sectors rapidly become more digital and a new wave of high growth companies raising funds to expand globally.
‘In the past couple of weeks, we have seen two great New Zealand tech firms each raise more than $20 million dollars to support their continued development.
Mr Muller says Mint Innovation has worked out how to use biotech to extract gold from old electronics and have raised $20 million to build gold biorefineries.
‘Sharesies raised $20 million to support global expansion for their app which allows every-day Kiwis to trade shares no matter how much money they have.
‘However, just like the survey from the game developers, most tech firms are being constrained at the moment as they struggle to get highly skilled specialist into their rapidly expanding teams.”
Mr Muller says NZTech has asked cabinet ministers to urgently consider allowing more rapid entry of targeted candidates with these critical advanced digital skills.
Interactive game developer studios are spread around the country, with 40 percent in Auckland, 26 percent in Wellington, 14 percent in Otago, 10 percent in Canterbury and five percent in Waikato and Bay of Plenty.
Technology is a major covid-proof economic contributor. Last year, the tech sector employed 114,000 people, was the country’s third largest export and contributed eight percent of GDP.
The country’s 200 largest tech exporters last year generated overseas sales of $9.4 billion with annual sales growing at 8.3 percent to $12.7billion.