Deloitte 2018 Technology Fast 50 Awards look for Ireland’s fastest growing technology companies
13 August 2018 Deloitte is calling on Irish technology companies to enter the 2018 Technology Fast 50 Awards. The awards rank Ireland’s fastest growing technology companies and will recognise indigenous technology companies that have demonstrated exceptional growth in turnover in the last four years.
Now in their 19th year and one of the most established technology contests in Ireland, Deloitte is calling on companies from across the technology spectrum – including the software, hardware, communications, media and entertainment, fintech, cyber security, environmental technology and healthcare and life sciences sectors – to apply for this year’s awards.
The awards demonstrate the contribution of the indigenous technology sector – cumulatively, the 2017 Fast 50 winners generated approximately €858 million in total annual revenues in 2016. The average revenue of companies featuring on the ranking was approximately €17 million, while the average growth rate of the companies over the last four years was 290%.
eShopWorld secured the top spot in 2017, for the third year in a row. The company achieved a growth rate of 3632% 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.
David Shanahan, Partner at Deloitte and Fast 50 Programme Lead said: “Through these awards, we recognise Irish technology companies that are at the cutting edge, using technology for progress, to address the challenges that we all face and create opportunities, both for themselves and for those that use their products. We’re excited to once again provide a showcase of the very best of what Ireland’s technology sector has to offer.”
This year’s awards programme will include a number of award categories in addition to the overall ranking.
As the prevalence and sophistication of cyber threats increases, 2018 will see the introduction of a cyber security award. Open to companies that are focused on developing cyber security solutions and that devote a significant portion of income to R&D, the award is an acknowledgement of the innovative and cutting edge solutions that are being developed by Irish companies.
For the second year running, the awards will include the fintech award category, sponsored by Silicon Valley Bank. Recognising that there are many very young companies in the fintech sector, entrants will need to demonstrate exceptional growth in turnover in the last two years. The winner of this award will receive an expenses paid trade and networking mission to Silicon Valley hosted by Silicon Valley Bank.
Global Shares was the inaugural winner of the award last year. CEO, Tim Houstoun, commented: “We have been on the business journey-of-a-lifetime, travelling across the globe to showcase our market-leading equity compensation software first-hand in Silicon Valley. We returned home energised and optimistic, with many opportunities, some of which have the potential to be real game-changers for our business. Doors were opened for us and we got the inside track on the market, which will help to formulate our strategy going forward. We forged deeper relationships with our partners and will be included in more tender processes going forward. We will also sign a number of new contracts as a result of the trip and we got numerous introductions to pursue. We also got a few investment offers. Crucially we got face-to-face meetings with C-level executives, creating a valuable network of direct contacts for the future.”
The Deloitte MNC Patron Awards will also be open to applicants:
- Innovative New Technology Award in association with Google
- Export Award in association with Intel
- Impact Award in association with PayPal
- Leading Female Award in association with Vodafone
- Life Science Award in association with Medtronic
- Disruptive Technology Award in association with Facebook
The Deloitte Technology Fast 50 ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision driving them to achieve the status of high-growth leaders. For details of criteria and how to enter, please visit www.fast50.ie.
The closing date for entries is 14 September and the winners will be announced at the awards ceremony on 2 November.
Notes to editors
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 via the application link at www.fast50.ie, with the necessary supporting documents.
Fast 50 awards criteria:
1. The company must have been in business for a minimum of four years (i.e. four full twelve month financial periods).
2. The company must be considered a technology company which, for this purpose, is defined as a company that:
• Owns proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues;
• Manufactures a technology related product;
• Devotes a significant proportion of operating revenues to research and development of technology;
• Is technology intensive, or uses its own unique technology to solve problems.
NB: Companies using third party technology or intellectual property in a unique way does not meet this definition.
Consulting companies, professional services firms, resellers and others who don't rely on proprietary technologies to generate their revenue are not eligible.
3. The parent company must be Irish-owned and have its headquarters in Ireland. Companies headquartered in Northern Ireland can take part in the Irish OR the UK programme, but need to choose one or the other and cannot enter both.
NB: Subsidiaries or divisions of Irish or Northern Irish companies or multinational organisations do not qualify.
4. Have base-year operating revenues of €50,000 (£44,500) and a current year operating revenue of at least €1,000,000 (£880,000).
NB: the accounts for the base-year must have an accounting period ending between 1 June 2014 and 31 May 2015; and the accounts for the most recent financial year must have an accounting period ending between 1 June 2017 and 31 May 2018.
5. All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition. Unless a statutory exemption is being taken, these accounts must be unabbreviated and audited.
NB: We cannot accept abbreviated accounts.
The Deloitte Technology Fast 50 Cyber Security Award
2018 sees the introduction of a cyber security award. Open to companies that have been in business for a minimum of three years, focused on developing cyber security solutions and that devote a significant portion of income to R&D, the award is an acknowledgement of the innovative and cutting edge solutions that are being developed by Irish companies.
Fintech award in association with Silicon Valley Bank
For the second year running, Deloitte and Silicon Valley Bank are partnering in the fintech award category. To apply for this award entrants must be in business for a minimum of three years. Details of the criteria can be found at www.fast50.ie.
Deloitte 2018 MNC Patron award 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 rewards export based companies based on the percentage of exports, their export growth and their approach to exports.
3. 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.
4. 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.
5. Life Science Award in association with Medtronic
This award will be given to the life science company that has made a progressive contribution to the industry using innovation.
6. Disruptive Technology Award in association with Facebook
This award is for the company that has invested in R&D activities to create a technology that has disrupted the market leading to growth in their business over the last four years.
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