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Is it time to let our companies fly? Report unveils NZ ‘unicorns’ create more than $34 billion in value

Taking flight

Is it time to let our companies fly? Report unveils NZ ‘unicorns’ create more than $34 billion in value

It’s a strong point of contention when a successful Kiwi company gets bought out by an overseas investor, many question its loyalty to our local economy, however a new report conducted by Callaghan Innovation has tracked the exits of companies over fifteen years ago and worked out where that money has gone. It shows that fifteen years after one of New Zealand’s largest tech companies was sold to a US buyer for around $100 million, Kiwi entrepreneurs have created at least nine businesses worth more $1 billion each. It suggests rather that global success breeds local growth. We chat to the CEO of Callaghan Innovation, Victoria Crone, about the findings from the latest Callaghan Innovation report.

Investment

2014’s the year where some international startup valuations have gone through the roof, seeing companies such as China’s consumer electronics brand Xiaomi being valued at US$50 billion (NZ$64.2 billion). But is this a global trend that’s hitting New Zealand’s shores (and investor’s wallets)?