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Frequently asked questions Deloitte Technology Fast 50

2014

What is the Deloitte Technology Fast 50?

The Deloitte Technology Fast 50 is a program that ranks 50 fast growing technology companies, public or private, based on percentage revenue growth over three years and includes all related industry sectors - life sciences, computers & peripherals, internet, software, communications, semiconductors and components & electronics.

How long has the program been in existence?

The Deloitte Technology Fast 50 is a global program that began in the United States in 1994. The program was successfully launched in Australia in 2001 and now also runs in 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.

How does the program determine winners?

The Deloitte Technology Fast 50 winners are ranked based on percentage revenue growth for three years. The 2014 program will rank companies based on percentage revenue growth from 2012 to 2014.

Deloitte representatives will agree the submitted data to the company’s operating revenues as disclosed in their financial statements, which are provided during the nomination process. Deloitte does not audit nor does it analyse the companies’ financial standings.

How do companies qualify for the Deloitte Technology Fast 50 program?

To be eligible for the Deloitte Technology Fast 50, your company must meet the following criteria:

  • Must be 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 significant proportion of operating revenues to research & development of technology.
  • Must be in business for a minimum of three years
  • Revenues for the first year of calculation must be at least $50,000 and the total cumulative operating revenue for the three years must be at least $8 million. For example, a technology company will qualify if its revenue for the year ended June 2012 was $105,000 and its year-end revenue for June 2013 and June 2014 were $2.5 million and $5.5 million, respectively
  • The company must be Australian owned and headquartered in Australia. Subsidiaries or divisions of overseas companies are not eligible (unless they have some Australian public ownership and trade separately).

How do companies qualify for the Deloitte Leadership Award?

To be eligible for the Deloitte Leadership Award, your company must meet the following criteria:

  • Must be 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 significant proportion of operating revenues to research & development of technology.
  • Must be in business for a minimum of three years
  • Revenues for the first year of calculation must be at least $50,000 and the third year must be at least $50 million. For example, a technology company will qualify if its revenue for the year ended June 2012 was $10 million and its year-end revenue for June 2014 was $60 million.

Does a company have to be publicly listed?

No, the program includes both private and public companies.

How do companies nominate?

Companies can nominate for both the Deloitte Technology Fast 50 or the Leadership award by completing our online nomination form. Nominations closed on 26 September 2014.

What information is required to nominate?

To nominate, you must provide the following information:

  • Company details
  • CEO details
  • Audited or verified financial statements for 2012, 2013 and 2014 including details of accounting policies
  • Brief description of company and proprietary technology (maximum of 300 words)
  • Company logo in jpeg format.

What is the Leadership award?

The Leadership award recognises established innovative companies with a strong growth track record (third year operating revenue of at least $50 million), showcasing its leadership status in the technology industry to new start-ups.

Companies who qualify for the Leadership award may be eligible to win:

  1. AUD5,000 discount on Deloitte services
  2. Two-hour growth strategy session

Can applications be made for both the Technology Fast 50 and the Leadership programs?

Yes.

How are Technology Fast 50 and Leadership winners determined?

Technology Fast 50 winners are based on the company's revenue growth for the past 3 years. Nominees from the Leadership program are assessed on a further operating revenue criteria, showcasing its established innovative technology, market share, business model and management team.

What are the advantages of being a Technology Fast 50 Winner?

Technology Fast 50 and Leadership winners will enjoy the following benefits:

  • Positive exposure and recognition from media and industry groups
  • Become part of an exclusive network of high performing technology companies
  • Enhances recruitment and retention benefits
  • Access to forums, events, newsletters and seminars
  • Automatic entry into the Deloitte Technology Fast 500 Asia Pacific program.

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Joshua Tanchel

Joshua Tanchel

Partner, Deloitte Private

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