Technology Fast 50™ Application FAQs

Fast 50

What is the eligibility criteria for Fast 50?

• In business for at least four years (on or prior to December 31, 2012)
• Headquartered in Canada or Canadian-controlled, with both management and research and development (R&D) teams also located in Canada
• Investing a minimum of five percent of gross revenues in R&D
• Generating significant proportion of operating revenue via proprietary technology and/or intellectual property
• Able to prove minimum revenues of CAD$50,000 in 2013 and CAD$5,000,000 in 2016. (Revenues to qualify for Fast 500 must be US$50,000 in 2013 and US$5,000,000 in 2016.) 
• Participants in one of the following five sub-sectors:
  • Emerging technologies 
  • Hardware/semiconductor
  • Software
  • Telecommunications/wireless
  • Digital media

What type of financial statements are required?

Audit preferred financial statements are required. For 2013, the financial statements must have a year-end before or on December 31, 2013 and for 2016, the financial statements must have a year-end before or on December 31, 2016.

What is included in the R&D expenditure?

R&D expenditures can include SRED expenditures, and salaries of employees who worked on SRED activities.

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Companies-to-Watch

What is the eligibility criteria for Companies-to-Watch?

• Headquartered in Canada or Canadian-controlled, with both management and research and development (R&D) teams also located in Canada
• Investing a minimum of five percent of gross revenues in R&D 
• Generating significant proportion of operating revenue via proprietary technology and/or intellectual property
• Participants in one of the following five sub-sectors:
  • Emerging technologies  
  • Hardware/semiconductor
  • Software
  • Telecommunications/wireless
  • Digital media

What type of financial statements are required?

Audit preferred financial statements are required. For 2015, the financial statements must have a year-end before or on December 31, 2015 and for 2016, the financial statements must have a year-end before or on December 31, 2016.

What is included in the R&D expenditure?

R&D expenditures can include SRED expenditures, and salaries of employees who worked on SRED activities.

What does Total Addressable Market (TAM) mean?

Total addressable market (TAM), also called total available market, refers to the revenue opportunity available for a product or service. 

How do I calculate my customer adoption rate?

The customer adoption rate may be calculated based on metrics your company has already defined strategically. You can provide an estimate on how much your company’s customer base will grow or, based on how big is your market, calculate how much growth year-over-year and year-to-year  your company has had in that market.

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