Deloitte Technology Fast 50 2016
The registration has ended. Data Verification stage begins
Deloitte has completed Lithuanian-tech companies’ registration to the fastest growing ICT companies project "Technology Fast 50". We thank all the companies who actively participated and registered.
At this time, Deloitte experts are carrying out the second phase of the project – Data Verification. Please follow the information and updates about the project. The results will be published in the end of October – beginning of November.
- Technology Companies Invited to Register
- Selection Criteria
- The success of Lithuanian companies
- Selection Process
Technology Fast 50 Criteria 2016
Technology Fast 50 Selection Criteria
The participants must meet the criteria of a cpecific category.
Both private and public sector companies are eligible to register.
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 2012 and 2015;
- 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 four-year period from 2012 to 2015.
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 four years in operation.
Eligible companies must be in operation for at least three years and exceed revenues of EUR 30,000 in each of the last three years (2013 – 2015). Apart from that, the same criteria apply to them 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 four 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 (2015) must exceed EUR 25 million for this category.
The success of Lithuanian companies
In 2015 two companies from Lithuania made the list: Ruptela UAB (36th position) and nSoft UAB (40th position). For the first time, Lithuanian technology companies made the list of Rising Stars and Big 5 categories in this year’s ranking.
The Rising Stars awards go to those companies that are too young to feature in the main Fast 50 report, but have recorded such spectacular growth rates over the last three years that they are almost certain to be included soon. For the first time, Lithuanian technology company INVENTI, which is a cloud solutions creator, made the list of Rising stars category (7th position in the Rising Stars category).
The Big Five category rewards those companies that, although fast-growing in their own right, are too large to compete directly on revenue growth terms with smaller businesses in the Fast 50. Lithuanian e-commerce business Pigu, which entered this category for the first time, comes second and concedes only to Romanian software company Insoft Development & Consulting.
Technology Fast 50 Selection Process 2016
- Is there a registration fee? No.
- Is the income of ranked companies announced publicly? No.
- End of the registration: 14 August 2016.
- Is the registration form available exclusively online? Yes.