eShopWorld tops the Deloitte Technology Fast 50 ranking for second year in a row
Lulu O’Sullivan, CEO of TheIrishStore.com and GiftsDirect.com, wins Leading Female Award
Deloitte Technology Fast 50 Awards
eShopWorld has secured the top spot in Ireland’s best known technology growth index – the Deloitte Fast 50 ranking – for the second year in a row. The company achieved a growth rate of 2596% over the last four years. The company is a leader in global eCommerce and logistics management, with a world class modular solution that gives online retailers control over the end-to-end customer journey – from global checkout to returns.
The Deloitte Fast 50 measures Ireland’s fastest growing indigenous companies in the tech sector. The awards, which are in their seventeenth year in Ireland, recognise the contribution of indigenous companies to the overall technology sector in Ireland, and indeed the overall economy. Cumulatively, the 2016 Fast 50 winners generated approximately €1.6 billion in total annual revenues in 2015. The average revenue of companies featuring on the ranking was approximately €31 million, while the average growth rate of the companies over the last four years was 270%.
On average, exports account for 61% of turnover for this year’s winning companies, while R&D expenditure represents just under a fifth of turnover (18%).
An analysis of the companies that feature on this year’s ranking shows that the software industry dominates with 63% of companies operating in that sector. This is followed by the communications and hardware sectors, which both account for approximately a fifth of companies featuring on the ranking.
This year’s ranking saw 11 new entrants, eight from the Republic of Ireland, and three from Northern Ireland. Teamwork.com, a company founded by developers, built to give its crew of programmers the best possible environment to write great code and build world class products for its customers, was the highest ranked new entrant at number seven.
All four provinces are featured on this year’s ranking. 33 of the winners are Leinster-based, 11 are based in Ulster, followed by Munster with six companies, and Connaught with one company . Ozaroo Retail, one of the UK & Ireland's fastest-growing online retailers, delivering a world-class shopping experience on top brands at low prices, was the highest ranking NI company at number four.
Announcing the winners of the Deloitte Technology Fast 50 programme, Joan O’Connor, Partner, Deloitte said: “We are delighted to be recognising these exceptional and innovative Irish companies. Their contribution to the technology sector is critical to the success of the industry overall in Ireland and it is clear from the turnover derived from exports that they are having considerable success in global markets also. This ambition is hugely encouraging to see and will be increasingly important in a post-Brexit marketplace, where pressure on margins may necessitate diversification into other markets. For this reason, and due to the wealth of opportunity that presents itself, we expect developed and emerging markets to be increasingly important for Irish technology companies. The success that has been achieved to date by the indigenous technology sector leaves them well placed to capitalise on this momentum.”
2016 MNC Patron Awards
Following the successful addition of five new awards categories last year supported by leading multinational companies operating in Ireland, the 2016 Technology Fast 50 once again saw companies compete to win the prestigious Deloitte 2016 MNC Patron awards. These awards reflect the collaborative and symbiotic nature of the entire technology industry here in Ireland, and the global focus that is core to its future success. The following were presented by the Deloitte 2016 MNC Patrons:
- Agile Networks - The Innovative New Technology Award, in association with Google
- Teamwork.com - The Export Award, in association with Intel
- Creme Global - The R&D Award in association with LinkedIn
- Spearline Labs - The Impact Award in association, with PayPal
- Lulu O’Sullivan, CEO, TheIrishStore.com, GiftsDirect.com - The Leading Female Award, in association with Vodafone
Rising Star award
Northern Ireland company Engage was announced as this year’s Rising Star award winner. This category recognises younger companies with the fastest growth in turnover over the past three years. The company delivers CMS, eCommerce and digital marketing solutions and has offices in Belfast, Dublin and London.
The Deloitte Technology Fast 50 Awards took place in Dublin on 4 November 2016 and were hosted by science and technology journalist, and founder of Whipsmart Media, Jonathan McCrea. Keynote speaker on the night was Mark Casey, Managing Director, Global Media & Entertainment Leader, Technology, Media & Telecommunications, Deloitte.
Details of the final Technology Fast 50 ranking list are available to download at www.fast50.ie.
The 2016 Deloitte Fast 50 Ranking
Ranking Company Name County
1 eShopWorld Dublin
2 Intellicom Ireland Dublin
3 Clavis Technology Limited Dublin
4 Ozaroo Retail Antrim
5 Vizor Ltd Dublin
6 Wolfgang Digital Ltd Dublin
7 Teamwork.com Cork
8 Spearline Labs Ltd Cork
9 Action Point Limerick
10 Agile Networks Dublin
11 Tickets.ie Dublin
12 Eblana Photonics Ltd Dublin
12 P2V Systems Antrim
13 Flint Studios Antrim
14 Aspira Cork
15 Simply Sun Ltd. T/A ClickandGo.com Dublin
16 Granite Digital Cork
17 Nostra Dublin
18 AccountsIQ Dublin
19 Asystec Limerick
20 Roomex.com Dublin
21 CarTrawler Dublin
22 Welltel Dublin
23 Sales-Promotions Kilkenny
24 Phorest (Ndevor Systems Ltd) Dublin
25 Camara Education Dublin
26 The Irish Store.com & Giftsdirect.com Dublin
27 EssentialSkillz Galway
28 The Web Bureau Antrim
29 Arkphire – Bootstrap Dublin
30 Topfloor Systems Ltd Dublin
31 ITQuotes Dublin
32 Milner Browne (Ireland) Limited Dublin
33 Leaf Antrim
34 Neueda Consulting Antrim
35 Medical Accounts Services Limited Dublin
36 Ocuco Dublin
37 Creme Global Dublin
38 Integrity360 Dublin
39 Learning Pool Limited Derry
40 Seopa Ltd Antrim
41 Ammeon Dublin
42 Emydex Technology Dublin
43 Tascomi Down
44 Novosco Ltd. Antrim
45 Zinopy Limited Dublin
46 Openmind Networks Dublin
47 TransferMate Global Payments Kilkenny
48 Data Solutions Dublin
49 Seven Technologies Holdings Limited Antrim
50 Blueface Ltd Dublin
About the Deloitte Technology Fast 50 Programme
To enter the Fast 50 Awards, companies must meet the criteria listed below. Entries must be submitted electronically with the necessary supporting documents (audited financial statements).
Fast 50 awards category:
1. The company must have been in business for a minimum of four years with a turnover of at least €50,000 in 2012.
2. The company must be considered a technology company, which is defined as:
- developing or owning proprietary technology that contributes to a significant portion of the company's operating revenues
- 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
- using another company's technology or intellectual property in a unique way does not qualify.
3. Entrants can be public or private companies but the parent company must be headquartered in the Republic of Ireland or Northern Ireland. Subsidiaries or divisions of Irish or Northern Irish companies or multinational organisations do not qualify.
4. All submissions must be accompanied by signed accounts (pdf version) for the last financial year being measured in the competition. Unless a statutory exemption is being taken, these accounts must be unabbreviated and audited.
Additional awards categories
1. Innovative new Technology award in association with Google
This award is for the company that has created or introduced a new or innovative product or service to International markets that has helped grow their business over the last four years.
2. Export award in association with Intel
This award will be given to the company showing the highest percentage of exports in their most recent year of trading through their application submission.
3. R&D Awards in association with LinkedIn
This award is for the company that demonstrates the highest level of investment as a percentage of turnover in research and development within their most recent year of trading.
4. Impact award in association with Paypal
This award is for the company that has made the most significant impact within the current year. Companies will be given an opportunity to demonstrate how they have made an impact through their application.
5. Leading female award in association with Vodafone
This award will be given to a leading female in technology who has contributed to business growth within their organisation.
Rising Star category
Companies who wish to enter the programme, which have not been in business for the minimum 4 years may qualify for the Rising Star category on satisfaction of the following criteria:
- Entrants must have been operating for a minimum of three years and less than four years, with turnover of at least €30,000 for 2013.
- Entrants can be public or private companies but the parent company must be headquartered in the Republic of Ireland or Northern Ireland. Subsidiaries or divisions do not qualify.
- Each entrant must be a technology company defined as producing technology; manufacturing technology-related products; being technologically intensive or using technology in problem-solving; or devoting a high percentage of effort to the research and development of technology.
Issued by Murray on behalf of Deloitte Ireland
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The information contained in this press release is correct at the time of going to press.
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