Overseas funding for early-stage New Zealand technology companies has hit a record high, with foreign investment tripling in the past year. Simon Feiglin, managing partner of global private equity firm Riverside Company, said the focus of New Zealand companies was extremely attractive for investors. The report showed the number of tech companies being bought outright was declining with two acquired last year compared with nine in 2013. The 2016 TIN100 annual report on the tech industry, produced by TIN, showed the 28,749 firms in New Zealand's tech sector contributed $16.2b to national GDP and employed just under 100,000 workers. American business columnist Ashlee Vance said New Zealand's tech sector was well-respected.

Source: New Zealand Herald May 09, 2017 06:45 UTC