Call for entries for the 2016 Deloitte UK Technology Fast 50 awards

Entries have now opened for the 2016 Deloitte UK Technology Fast 50 awards. The awards, now in their nineteenth year, recognise and rank the 50 fastest growing technology companies in the UK, based on the last four years of revenue growth. Supporting the UK’s fastest-growing technology companies are the award sponsors NetSuite, Silicon Valley Bank and Taylor Wessing.

David Cobb, lead partner for the Deloitte UK Technology Fast 50, comments: “Since 1998, the UK Technology Fast 50 awards have celebrated innovation, entrepreneurship and intellectual property in the technology sector. Not only do these awards offer a glimpse into the future of the technology market, but they also provide an excellent opportunity for businesses to highlight their achievements.

“Hundreds of aspirational companies from across the technology landscape have won the UK Fast 50 award. The class of 2016 will be in good company, with past winners including the likes of WorldRemit, notonthehighstreet.com, Skyscanner and Just Eat. This year’s awards will identify the next generation of dynamic UK technology companies and potential unicorns.”

Last year’s UK Fast 50 winners generated a combined total annual revenue of more than £820 million, provided jobs for 7,400 people and recorded an average four-year growth rate of 1,883% in the 2014/15 financial year.

Last year’s overall winner was money transfer app WorldRemit, having posted a four-year revenue growth rate of 20,385%. Headquartered in London, WorldRemit offers transfers to more than 125 destinations across Europe, Asia, Africa, Australasia and the Americas through a wide network of correspondents, banks and telcos. The platform allows customers to instantly send money abroad to friends and family, using only a smartphone, tablet or computer.

Ismail Ahmed, founder and CEO at WorldRemit, said: “Being recognised as the UK’s fastest-growing technology company is testament to the hard-work and dedication of the team at WorldRemit. The Deloitte Technology Fast 50 awards celebrates the incredible innovation that come out of the UK and recognises that it’s not enough for tech companies to have great products – they need great businesses too.”

For full details and the entry form please visit: www.fast50.co.uk.

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Notes to editors

About the Deloitte UK Technology Fast 50
The Deloitte UK Technology Fast 50 is one of the UK’s foremost technology award programmes. Now in its nineteenth successful year, it is a ranking of the country’s 50 fastest-growing technology companies, based on revenue growth over the last four years. The UK Fast 50 awards are all about growth driven by leading intellectual property and are a celebration of innovation and entrepreneurship. The UK Technology Fast 50 is part of an international programme run by Deloitte and qualifying entrants of the UK Fast 50 will be put forward to the Deloitte Technology Fast 500 EMEA (Europe, Middle East and Africa) programme. Previous winners have come from across the UK, are both large and small, and included some of the most dynamic players in all areas of technology, from internet specialists to biotech, digital media technology to life sciences, computers to semiconductors and software to telecommunications. 

For more information visit www.fast50.co.uk

Deloitte UK Technology Fast 50 eligibility criteria

1. The company must have been in business for a minimum of four years;
2. The company must be considered a technology company which, for the purposes of the awards, is defined as one that:
   1. owns proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues;
   2. manufactures a technology related product;
   3. devotes a significant proportion of operating revenues to research and development of technology;
   4. is technology intensive, or uses its own unique technology to solve problems.
      
      NB: Using third party technology or intellectual property in a unique way does not meet this definition. Consulting companies, professional services firms, resellers and others who don't rely on proprietary technologies to generate their revenue are not eligible. 
3. The parent company must be UK-owned and have its headquarters in the UK; 
   • NB: Companies headquartered in Northern Ireland can take part in the UK OR Irish programme, but need to choose one or the other and cannot enter both. 
4. Operating revenues must be at least £44,000 (€50,000) for the first financial year of the four year period and £806,000 (€1,000,000) for the most recent financial year;
   1. NB: The accounts for year four should have an accounting period ending between 1 June 2015 and 31 May 2016.
5. All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition. Unless a statutory exemption is being taken, these accounts must be unabbreviated and audited.

If you have any further questions regarding whether your company qualifies, please contact fast50@deloitte.co.uk

About NetSuite
NetSuite’s cloud business software suite is the top choice of technology companies who understand that the key to unlocking and managing growth is a back office system that can address today’s challenges while providing the critical foundation for future expansion.

Today over 30,000 companies trust NetSuite to run their mission critical business processes from accounting, procurement and HR through to marketing and sales. NetSuite’s track record as the business system of choice for high-growth tech companies is unmatched. NetSuite isn’t just for start-ups, companies of all sizes benefit from its comprehensive, global financial and accounting core that makes international expansion straightforward; improved visibility across the business; and increased efficiency from eliminating manual processes and disparate systems.

To find out more, please visit www.netsuite.co.uk

About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative businesses and their investors move bold ideas forward, fast. SVB provides a range of targeted financial services and expertise through its office in the UK. With commercial and international banking services, SVB helps address the unique needs of innovators. The UK's leading technology and life science businesses, in all stages of development, look to SVB’s niche expertise, experience and unparalleled network, as they grow at home and tackle new markets abroad.

Learn more at svb.com/uk.

About Taylor Wessing
Taylor Wessing is a full-service international law firm, with more than 1,200 lawyers in 30 offices worldwide, working with clients in the world’s most dynamic industries. We take a single-minded approach to advising our clients, helping them succeed by thinking innovatively about their business issues.

Our focus on the industries of tomorrow has enabled us to develop market-leading expertise in Technology, Media and Communications; Life Sciences; Private Wealth and Energy. At Taylor Wessing we are proud of our reputation as a forward-thinking firm.

Taylor Wessing's Technology, Media and Communications Group is a leader in its field. The firm acts for clients throughout the eco-system, from start-ups through to global giants, often acting internationally. The firm's full service intellectual property offering provides clients with deep sector knowledge and experience, while its reputation management offering is recognised as being market leading. The firm is well positioned to advise around media and technology convergence issues thanks to the strengths of its technology and IT practice and its well-regarded corporate and M&A expertise in this sector.

For more information, please visit the TMC page on the Taylor Wessing website and follow @TaylorWessing, @TWTechCity and LinkedIn

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.