The hi-tech sector is in the NZ Herald today – telling a story that many of us already know, but doesn’t get much coverage.
Our top 100 hi-tech companies earn $6.7 billion and still show positive prospects for growth. Greg Shanahan, the founder of the Technology Investment Network predicts the sector could outstrip dairying. Bold words, but wouldn’t it be good see this sector growing – and diversifying our economy?
If we want to catch Australia (a pretty naff goal if you ask me) we’re going to have to grow dairy 5 times. Can’t imagine 5x more cows or that amount of new productivity. The hi-tech sector – commercialising smart ideas on the other hand has less or no carbon miles, produces smart, high paying jobs and generated export revenues. It has more potential if we get behind it.
Nearly 80% of what our top 100 hi-tech companies produce is exported.
A good story that gets too little attention.
Agreed
I don’t think we have a choice, if we don’t develop our high tech sector, then in relative terms, it’s outside the first world for us…
Agreed $1.7Billion would be very helpful
Wasn’t Science and technology the first big area of spending to be cut by National, closely followed by Fruit in Schools?
@Ian
I think your right, it was subsides for hi tech research mainly or I could be wrong.
I think we need to push the hi-tech industry more, it has export value, well paid jobs, high productivity. Look what it has done for Japan and Korea.
Great thing about hi-tech is inside that it highly diverse with for robots to programming to god know what.
$6.7B in earnings is just the start.
The commercial value of 7 iPhones = 1 tonne of milk powder.
And I’d bet that there is more profit in the iPhone.
I’m going to continue to push some of our smartest companies here – I think as you’ve pointed out – their story needs to be out there more than it is.
Loota, where did the I-phone example come from? I’ve seen it before and would love to use it, but just wanted to check its accuracy.