Deloitte launches Technology Fast 50 Program in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Cyprus 

6 September, 2021 – Deloitte has just launched its Technology Fast 50 Program in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Cyprus. The program is a competition for fast growing companies in both established and emerging technologies, providing them with a platform to showcase their leading position in the field. The Technology Fast 50 Program was originally founded in 1995 by Deloitte in North America and has expanded to include
programs in EMEA and APAC as well.

Deloitte’s Technology Fast 50 Program ranks and recognizes the 50 fastest growing technology companies, public or private, based on percentage revenue growth over four years. It includes all related industry sectors – communications, environmental technology, fintech, hardware, healthcare and life sciences, media and entertainment, software. For the 2021 ranking, revenues from 2017 to 2020 will be analysed. Applications will be considered from companies headquartered in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Cyprus.

“The long-standing success of the program across various geographies has empowered emerging growth companies that have been recognized as Technology Fast 50 winners to gain increased visibility, brand recognition, networking, and further growth opportunities,” said David Stark, Deloitte Private Leader in the Middle East.

“The Deloitte Technology Fast 50 Program aims to showcase the depth and scope of innovation across our region. This will be driven by many of the dynamic and inspiring young companies that, in time, will help form the future economic bedrock for our region’s development. Our ambition is to enable the acceleration of the growth of our regional ecosystems by connecting start-ups, investors and corporates, and purposefully continuing to support such vibrant businesses as they help build a stronger and more sustainable future for all,” said Kyriacos Charalambides, High Growth Segment Leader of Deloitte Private in the Middle East.

Eligibility for the Fast 50 ranking requires fulfilment of the following criteria:

• Annual revenues of at least $50,000 in 2017, 2018 and 2019 and $250,000 in 2020;
• Operational headquarters in the region (United Arab Emirates,  Saudi Arabia, Qatar, Bahrain or Cyprus);
  
• The company develops or manufactures proprietary technologies or spends a significant amount of capital on research and development;
  
• The company has an ownership structure that excludes majority-owned subsidiaries of strategic entities.

For the online application and eligibility criteria visit: www.deloitte.com/DMEFast50. The application process will close on 31 October 2021 and results will be announced in November 2021. 

The impact of the Technology Fast 50 Program extends far beyond the countries where the companies are based. All participating companies that meet the program’s criteria (not only those that make the top 50) also have the opportunity to be recognized in Europe, Middle East and Africa (EMEA) Fast 500 ranking. Alongside Deloitte’s US and Asia Pacific Fast 500 initiatives, this will bring them local, national and international exposure.

Note: Unless otherwise requested, all qualifying entrants from the Fast 50 in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Cyprus, will automatically be entered into the Fast 500 EMEA. To qualify for the Deloitte Technology Fast 500 EMEA, a company must have base-year operating revenues of €50,000 (2017) and a current year (2020) operating revenue of at least €1,000,000.  

About Deloitte & Touche (M.E.) LLP:

Deloitte & Touche (M.E.) LLP (DME) is the affiliate for the territories of the Middle East and Cyprus of Deloitte NSE LLP (“NSE”), a UK limited liability partnership and member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”).

DME is a leader in professional services with uninterrupted presence in the Middle East since 1926 with 26 offices in 14 countries and around 5,000 partners, directors and staff. DME’s presence in the Middle East and Cyprus is established through its affiliated independent legal entities, which are licensed to operate and to provide services under the applicable laws and regulations of the relevant country. DME’s affiliates and related entities cannot oblige each other and/or DME, and when providing services, each affiliate and related entity engages directly and independently with its own clients and shall only be liable for its own acts or omissions and not those of any other affiliate.

About Deloitte:

Deloitte refers to one or more of DTTL, its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL, NSE and DME do not provide services to clients. Please see www.deloitte.com/about to learn more.

Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our network of member firms in more than 150 counties and territories, serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 300,000 people make an impact that matters at www.deloitte.com.