Australian Tech Fast 50 winner, Cashrewards, ranks fourth in Asia Pacific Technology Fast 500 awards
1 December 2016: Australia’s 2016 Technology Fast 50 winner, Cashrewards, has ranked fourth overall in the 2016 Asia Pacific Technology Fast 500, closely followed by another Australian company, Property Exchange Australia.
Overall, 88 companies in the 500 are Australian, the highest in the last 12 years and Australian companies comprise two of the top five growth companies.
As a country, Australia boasts a significant number of growth companies in the regional ranking, second only to China.
“The past year has proved to be a ‘coming of age’ for Australian tech startups,” said Joshua Tanchel, Deloitte Australia’s Tech Fast 50 Lead Partner. ”Not only are Australian tech companies inspired by the success of the Nasdaq listing of the Australian-founded company Atlassian, technology is also shifting to the heart of the Australian economic and investment agenda.
“Prime Minister Malcolm Turnbull’s announcement late in 2015 of a $1.1 billion innovation package, including tax breaks for start-up investors, changes to crowdfunding legislation and initiatives to turn Australia into an innovation powerhouse are certainly helping to support the growth of local startups.”
Deloitte’s announcement today of the 2016 Asia Pacific Technology Fast 500 winners shows companies reporting the highest average revenue growth since 2008. Chinese e-commerce company Chengdu Wolaila takes out the top spot. Of the Top 500, software companies continue to dominate (199 of 500).
About Deloitte's Technology Fast 500TM
The Deloitte Technology Fast 500 is the pre-eminent technology awards program in Asia Pacific, and now in its fifteenth year, it includes nine Asia Pacific locations: Australia; China (including Hong Kong); India; Japan; South Korea; Malaysia, New Zealand; Singapore and Taiwan. Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies — large, small, public, and private — span a variety of industry sectors from software to biotech. Fast 500 companies play in the SaaS, cloud computing, data analytics, and mobile sectors and are transforming the way we do business today. The full list of winners of the 2016 Asia Pacific Technology Fast 500 and details about the nomination and eligibility criteria of the program can be found on www.deloitte.com/fast500asiapacific.
About Deloitte's Australian Technology Fast 50
Technology companies are invited to self-nominate for the Deloitte Australia Technology Fast 50 list via our website. Financial data about the top 50 companies is provided by the entrants gathered via an online survey tool and is cross-checked using each company’s financial information which is verified by their accountants or a registered auditor. NB: While Deloitte has existing relationships with some of the entities on the list, this does not influence or affect the outcome of the final Technology Fast 50 list, which is judged on percentage revenue growth.
For a full list of winners and further information on the Deloitte Technology Fast 50 Australia program, go to www.tech50.com.au and use #TechFast50au on social media. The list of Australian winners of the Deloitte Tech Fast 50 can be found here.