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NZ firms excel in Deloitte Fast 500

37 Kiwi tech companies make the annual Deloitte Technology Fast 500 Asia Pacific  index, with two in top 10 for the first time. | NZ has the highest representation per capita.

NBR staff
Fri, 02 Dec 2011

New Zealand businesses have again excelled in the annual Deloitte Technology Fast 500 Asia Pacific index of the region’s fastest growing tech businesses, with 37 making the list.

The index, which was announced in Hong Kong, ranks the top 500 tech businesses according to their revenue growth over the past three years and sets the standard for high growth technology businesses in the Asia Pacific region.

Leading the list of New Zealand businesses was online electricity retailer Powershop, which was ranked 6th on the index with a staggering 5,280% growth, closely followed by mobile phone network 2degrees, which came 7th with 3,762% growth. 

They achieved the highest and second highest rankings for New Zealand companies in the Fast 500’s 10-year history. 

Last month, Powershop and (US-owned) 2degrees were the first and second ranked businesses on the New Zealand Deloitte Fast 50. 

In total, 37 New Zealand companies made this year’s Deloitte Technology Fast 500 Asia Pacific index, with eight of those ranked in the top 100. New Zealand had by far the highest representation per capita. 

Auckland-based businesses led the way with 17 making the index, while there were 10 from Wellington, Canterbury had five, Waikato four, and Bay of Plenty one.

NZ companies in the top 100
Rank      Company                Growth (%)      Industry
6            Powershop                5,280.41          Internet
7            2degrees                   3,761.77          Telecommunications/networking
30          NZ Tax Refunds        1,400.91          Internet
46          Midas Infomedia        1,077.54         Software
51          Xero                           873.64            Internet
80          2Talk                          541.61            Internet
92          Tomizone                   485.25            Internet
96          Ensid Technologies   468.46            Telecommunications/networking

Leader of the New Zealand Fast 50 programme, Deloitte partner Matt McKendry, says the continued success of Kiwi businesses on the Asia Pacific Tech Fast 500 shows that New Zealanders are able to foot it with the best entrepreneurs in the region.

“It’s interesting that nearly half these New Zealand businesses are online based, and are using communications technology to overcome our relative isolation,” Mr McKendry says.

“The Fast 500 shows that innovative Kiwi businesses should have no qualms thinking they can’t match it with the best in the world, as long as they get the business model right and stick to their strategic goals.”

In terms of the geographical spread of companies on the Tech Fast 500, the largest number of companies came from Taiwan (133), followed by South Korea with 96, China (86), Australia (53), India (43), New Zealand, Japan (34), Singapore (13) and Malaysia (5).  Revenue growth across the Tech Fast 500 ranked firms was on average 476% this year, driven by strong growth in the electronics sector.

The top-ranked business was Chinese online grocery retailer Yihaodian (The Store Corporation) with an astronomical 19,218% growth.

For the full Deloitte Technology Fast 500 Asia Pacific 2010 index, go to

NZ businesses on the 2011 Deloitte Technology Fast 500 Asia Pacific index by region
Auckland: (first 4 in top 100)
2degrees, 2Talk, Tomizone, Ensid Technologies, ViFX, Brolly Sheets, ClearPoint, Biomatters, Reduced to Clear, SnapComms, KernMobile, Sonar6, Dbvisit Software, SMX, Vista Entertainment Solutions, The Sleep Store, Direct Payment Solutions.

Sportsfuel, Torpedo7, Smartrak, Enlighten Designs.

Bay of Plenty:

Wellington: (first 3 in top 100)
Powershop, Midas Infomedia, Xero, Freeman Media, Times-7, Web Genius, Aura Information Security, Silverstripe, Optimal Usability, Telesmart.

Canterbury: (first 1 in top 100)
NZ Tax Refunds, Bluewater Systems, Telogis, Platinum Safety, Energy Mad.

NBR staff
Fri, 02 Dec 2011
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NZ firms excel in Deloitte Fast 500