Deloitte Technology Fast 50 – the Contest for the Fastest-growing ICT Company Begins
Prague, 13 June 2014 – Deloitte has announced a new annual contest for the fastest-growing technology company in Central and Eastern Europe. Small and medium-sized technology firms from the Czech Republic can register for the prestigious Deloitte Technology Fast 50 ranking for the 15th consecutive year. The registration is open until 17 July 2014 and the results will be announced in the second half of October 2014.
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“Our annual ranking of the fastest-growing technology companies in the Central European region lists the companies based on their annual growth of revenues. Software development companies were the most widely represented businesses in the ranking last year. In total, 58% of companies in the ranking focused on software development, followed by providers of internet services, the number of which decreased from more than a third (35%) to a quarter (26%) year-on-year. Only a tenth of the companies in the ranking operate in the telecommunications and networks sector,” said Petr Viktora, Partner in the ICT function of Deloitte.
“This ranking is unique because it offers the ability to compare one’s powers not only among technology firms in the Czech Republic, but also in other countries of the Central European region. The ranking improves the firm’s image not only in front of clients, but also in front of its employees, and helps to provide positive publicity in the media. By participating in the ranking, companies also apply for a ranking within the EMEA region and thus have a chance to participate in the gala award ceremony, which will take place in London at the end of this year,” commented Zdeněk Křížek, Partner in the ICT Advisory and ERS function at Deloitte.
The participation in the Technology Fast 50 ranking provides a unique opportunity to compare the performance of established as well as new companies. As in previous years, companies will be compared in three categories this year:
Technology Fast 50 Category
In order to qualify for the main Technology Fast 50 ranking, the participants must meet the following criteria:
- Annual revenues of at least EUR 50,000 in each of the years between 2009 and 2013;
- Headquarters in one of the following Central European countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia or Slovenia;
- Development or manufacturing of proprietary technologies or spending a significant amount of capital on research & development; and
- Ownership structure that excludes majority-owned subsidiaries of strategic entities.
The winners are subsequently selected based on the evaluation of registrants that meet the qualifying criteria by revenue growth over the five-year period from 2009 to 2013.
Rising Stars Category
In the Rising Stars category, Deloitte ranks “young” companies that show great potential but are too new to meet the main category criterion of a minimum of five years in operation. Eligible companies must be in operation for between three and five years and exceed revenues of EUR 30,000 in each of the last three years (2011 – 2013). Apart from that, the same criteria apply as for the main Technology Fast 50 ranking.
Big 5 Category
The Big 5 category ranks large fast-growing companies that have achieved extraordinary growth in the last five years. To be eligible, companies must meet the same criteria as for the main Fast 50 ranking with the exception that the annual revenue in the final measured year (2013) must exceed EUR 25 million for this category.
Results in 2013
With the revenues increasing by 8,729% within the last five years, the Romanian internet airline ticket retailer Vola.ro retained first position as the fastest-growing company in the Central European region. In 2013, the average growth of the Technology Fast 50 companies decreased from 1,026% to 671%, which was the worst result since 2004.
The Rising Star category was dominated by the Romanian software company INSOFT Development & Consulting, with a revenue growth rate of 2,884% in the last three years (2010-2012). Of the Czech companies in the ranking, Geosense and Inmite took 4th and 9th positions, respectively.
The Polish firm GOCLEVER won the Big 5 category, followed by Internet Shop, which operates the Parfums.cz e-shop.
More information about the entire Technology Fast 50 project and the terms and conditions of the contest may be found at www.deloitte.com/fast50ce.