Article
Congratulations to the 2024 Technology Fast 50 program winners!
Meet the latest winners of the Technology Fast 50TM program, ranked in the following categories: Technology Fast 50, Clean Technology, Enterprise—Industry Leaders and Companies-to-Watch. Recognizing the world-class achievements of Canadian technology companies, the Technology Fast 50 program highlights their commitment to innovation, leadership, and rapid revenue growth.
These exceptional Technology Fast 50 winners epitomize the spirit of innovation and entrepreneurial excellence in Canada's technology sector. By demonstrating remarkable growth rates and showcasing their ability to adapt and thrive in a rapidly evolving market, these companies have distinguished themselves as leaders in their respective fields. Their success not only reflects their own ingenuity and dedication but also contributes to the overall growth and competitiveness of Canada's technology ecosystem. We are proud to celebrate their achievements and recognize them as the driving force behind the country's technological advancement and economic prosperity.
– Anders McKenzie,
National Technology Fast 50 program leader
Technology Fast 50
The Technology Fast 50 category recognizes Canada's 50 fastest-growing technology companies with the highest percentage revenue growth over a consecutive four-year period.
With a staggering growth percentage of 154,022%, the top spot in this category belongs to Neo Financial, a Calgary-based fully digital fintech company revolutionizing banking and payment infrastructure in Canada. From ranking #1 on the Companies-to-Watch list in 2023 to securing the top spot in the Technology Fast 50 category this year, this achievement serves as a testament to Neo Financial’s exceptional and unwavering growth in the market.
Enterprise—Industry Leaders
The Enterprise—Industry Leaders category recognizes the fastest-growing enterprise-level technology, media, and telecommunications companies holding the highest percentage revenue growth over a consecutive four-year period.
Hopper, a Montreal-based travel platform which powers its mobile app and its B2B partners’ direct channels, earned the #1 ranking in this category with an impressive growth percentage of 1,207%.
Clean Technology
The Clean Technology category recognizes Canada’s top clean innovators holding the highest percentage revenue growth over a consecutive four-year period. To be eligible for this category, the majority of a company's revenues must come from products or services that have a positive environmental impact.
Oxygen8 Solutions Inc. claimed the highest spot this year with a remarkable growth percentage of 6,610%. Located in Vancouver, Oxygen8 develops and manufactures high-efficiency commercial and multi-family residential dedicated outside air systems that improve the indoor air quality of buildings.
Companies-to-Watch
The Companies-to-Watch category recognizes Canadian technology companies with the potential to be future Technology Fast 50 candidates by their revenue growth percentage over their last three years of operation.
Topping the charts of the Companies-to-Watch category with a growth percentage of 8,829% is Inmotive, a Toronto-based company that is the inventor of the Ingear, an ultra-efficient multi-speed powertrain technology for a wide range of applications.
Survey highlights from 2024 Technology Fast 50 program applications
According to Deloitte Canada’s annual survey of Technology Fast 50 program executives, attracting and retaining a qualified workforce remains the primary business challenge among Canada’s fastest-growing companies. Of the respondents, about one in five (22%) say the labour market is the most significant issue they face, followed by concerns over new product and service development (21%) and international expansion (20%). Over a third (67%) of this year’s Technology Fast 50 program applicants believe that Gen AI is comparable to the internet – a generational innovation – with 44% of applicants already deploying Gen AI, 30% experimenting with Gen AI, and 17% with active pilots.
For more information, please visit www.fast50.ca
