Have you got what it takes to be one of Australia’s Fast 50 technology companies?
Nominate now for the Deloitte Technology Fast 50 Australia 2014 program
21 August 2014: Professional services firm Deloitte has again thrown down the gauntlet to Australia’s fast growth technology sector, asking them to nominate themselves for the annual Technology Fast 50 program.
Now in its 14th year, the Technology Fast 50 continues to recognise and profile Australian companies, public or private, who have achieved the fastest rates of annual revenue growth (based on percentage revenue growth over the last three years).
Joshua Tanchel, Deloitte Private Partner and leader of Deloitte’s Technology Fast 50 Program said: “Each year the Fast50 program is about picking winners who have recorded high revenue growth and also survived economic and business expansion challenges. Cloud technology solutions have democratised scale and created a huge even playing field for new entrants who are disrupting existing markets or creating brand new niches.”
Mr Tanchel continued, “We reward technology companies who have grown their business during uncertain times and this often requires innovative methods to set them apart and a strong will to succeed.”
Last year innovative online wine retail site Vinomofo (Wine Cru Pty Ltd) was the overall winner.
Commenting, Vinomofo chief executive officer Andre Eikmeier said: "Winning the Deloitte Tech Fast 50 Award last year was game-changing for us as a business. The initial PR exposure from the win created a huge buzz, we had over a thousand new members join that day alone, and we kept the momentum going.
“But beyond that, it was game-changing for our team, as a validation of everyone's hard work and their efforts, and as a reminder that we're all part of something special. It brought everyone together, created a real sense of pride.
“And our relationship with Deloitte in itself has also been valuable, as we've continued to grow. They've offered a lot of support and a lot of connections. It's been really terrific."
For the first time, ASX Limited, which operates Australia’s primary securities exchange is the lead sponsor of the Deloitte Technology Fast 50. This is perfect timing given the number of successful IPO’s of technology companies in the last 12 months.
“ASX supports the Deloitte Technology Fast 50 program, an initiative that helps raise the profile of some of the fastest growing Australian technology companies,” Max Cunningham, ASX’s General Manager Listings and Issuer Services said.
“The tech sector is one that the Australian economy will continue to look towards to deliver employment opportunities and economic growth. Further, it is a sector that ASX is increasingly a part of: in the past year, technology companies such as Freelancer, Ozforex and Bulletproof - all previous constituents of the Fast 50 program – have successfully listed on the ASX.”
“We hope that Australian and global technology companies can continue to raise capital from ASX’s broad investor base, and help these companies on their way to achieving their growth ambitions.”
The Technology Fast 50 winners, who are announced in November, receive exposure and recognition from key technology media and industry colleagues and also become part of an exclusive network of high performing technology companies.
The program is supported by forums, events, newsletters and seminars- available to all entrants - which will continue to help their businesses grow. Program entrants are also considered for the regional Deloitte Technology Fast 500 Asia Pacific 2014 program and, if selected, these companies are recognised across the Asia Pacific region for their growth achievements.
Previous Fast50 winners include, brandsExclusive (2012 winner) one of the fastest growing fashion websites in the country, with record revenue growth of 1,335.1% over the previous three years, Anittel (2011 winner), an IT and telecommunications service provider that acquired and integrated ten firms in a year to create a national service network of 17 offices; Vocus Communications (2010 winner), an independent wholesale Internet transit operator and telecommunications provider, who had record revenue growth of 11,305.60%.
Eligibility criteria for the Deloitte Technology Fast 50 Australia 2014 program
The program includes all related industry sectors: Internet, communications, software, semiconductors, components and electronics, life sciences and computer peripherals.
Winners are selected based on percentage revenue growth over three years and must meet the following criteria:
1.The company must have been in business for a minimum of three years;
2.The company must be considered a technology company, which is defined as:
* producing technology
* manufacturing technology-related products
* be technology intensive, or use unique technology to solve problems
* devoting a high percentage of effort to technology R&D;
3.The parent company must be Australian owned and have its headquarters in Australia (subsidiaries of multinational organisations do not qualify)
4.Operating revenues must be at least $50,000 for FYE 2012.
5.Must have total cumulative operating revenues of $8 million during the last three operating years.
Note: Companies with operating revenues of less than $8 million during the last three operating years may still qualify for the regional Deloitte Technology Fast 500 Asia Pacific 2014 program and the Rising Stars Award.
The Leadership Awards, which are now in their fourth year of operation, are only granted to companies who have operating revenues in excess of $50 million in FY14. (All other eligibility criteria are the same as the main Technology Fast 50 Australia awards).
The Rising Star Awards recognise high-growth companies which do not qualify for the Technology Fast 50, either as a result of having less than three years’ existing revenue data or not meeting the $8 million three-year cumulative revenue eligibility requirement of the Technology Fast 50 program.
The Deloitte Technology Fast 50 Australia program is part of a global program run in parallel with the United States, Canada, United Kingdom, France, Norway, Sweden, The Netherlands, Germany, Central Europe, Israel, South Africa, China, Hong Kong, India, Japan, Korea, Malaysia, New Zealand, Singapore, Taiwan and Thailand.
For more information about this year’s program (including nomination criteria, nomination process, key dates and other information), please visit www.tech50.com.au and fill out the nomination form. Nominations close 26 September 2014.
See our media releases and research at www.deloitte.com.au.
Follow us on Twitter @Techfast50au or #Fast50
Last Updated: Thursday, 21 August 2014
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/au/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.
About Deloitte Australia
In Australia, the member firm is the Australian partnership of Deloitte Touche Tohmatsu. As one of Australia’s leading professional services firms, and winner of both the Australian Financial Review/CFO Audit Firm of the Year and Accounting Firm of the Year awards 2013, Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting, and financial advisory services through approximately 6,000 people across the country. Focused on the creation of value and growth, and known as an employer of choice for innovative human resources programs, we are dedicated to helping our clients and our people excel. Formore information, please visit Deloitte’s web site at www.deloitte.com.au.
Liability limited by a scheme approved under Professional Standards Legislation.
Member of Deloitte Touche Tohmatsu Limited
© 2014 Deloitte Touche Tohmatsu