Photo credit; Images of Money on Flickr

While a lot of tech companies get into the flashy world of social media applications to try and break into a global market, New Zealand tech startups are relying on taking on more mundane tasks, namely accounting.

Wellington-based Xero Ltd. is leading the charge and now New Zealand’s cloud-based tech industry is the country’s third-largest export earner behind dairy and tourism.

Official data shows that technology services exports have doubled since 2005 to NZ$682 million in 2013 (although many firms have yet to make profits).

This rapid growth is thanks to the government’s push to promote high-growth startups, including incubation finance, like a NZ$160 million investment in the New Zealand Venture Investment Fund, a public-private venture.

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Tags: accounting, business, New Zealand, online, software

This entry was posted on Tuesday, April 1st, 2014 at 3:05 am and is filed under E-mail & the internet, Exporting, New Zealand, new zealand business, social media. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.