New Edition of Deloitte Technology Fast 50 Competition Kicks Off
Deloitte Romania announces the opening of registration for the Technology Fast 50 competition in Central Europe. The preeminent regional competition for companies in the technology sector, now in its 17th year, highlights both established and emerging technology companies in the region.
Technology Fast 50 gives Romanian companies the opportunity to measure their forces against those of their peers in Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Serbia, Slovakia and Slovenia.
“Over the years, Romanian companies had an increased presence in the regional ranking which is testimony to the tremendous potential of the talent and innovation capacity of local companies. The program offers a good platform for the high tech sector as it increases visibility for participants,” said Alina Mirea, Partner Deloitte Romania and local program coordinator.
“Most of all what the program has achieved all these years is to build a community that matters. The Fast 50 community is a place where business people may share common interests and identify relevant information for their businesses and new collaborative tools that can help them grow faster.”
In 2015, ten Romanian companies were present in the Fast 50 ranking, the highest placed being Zebrapay, with an annual growth of 998%. Simplity s.r.o., a Czech software company, placed first with a 1971% growth rate, while in the EMEA Fast 500 ranking the winner Catawiki had a record growth of 45,080%.
In order for a company to be eligible for the main Fast 50 ranking, it must meet following criteria:
- Annual revenues of at least €50,000 in each year between 2012 and 2015;
- Has its headquarters in a Central European country;
- Develops or manufactures propriety technologies or spends a significant amount of capital on research & development;
- Has an ownership structure that excludes majority-owned subsidiaries of strategic entities.
Winners are selected based on ranking eligible registrants by revenue growth over a four-year period from 2012 to 2015.
In the ‘Rising Stars’ category, Deloitte ranks ‘young’ companies that show great potential but are too young to meet the minimum of four years in operation criteria for the main category. Eligible companies must be in operation at least three years and have to exceed revenues of €30,000 in each of the last three years (2013 – 2015). Otherwise, the same criteria apply as for the main Fast 50 ranking.
The ‘Big 5’ category ranks large fast-growing companies that have achieved extraordinary growth in the previous four years. To be eligible, companies must meet the same criteria as the main Fast 50 ranking with the exception of annual revenue in the final measured year (2015), which must exceed €25 million for this category.
Most Disruptive Innovation Award
The newest addition to the Program is a special award for the ‘Most Disruptive Innovation’ which recognizes a company that develops a unique and innovative product or provides services that have a revolutionary impact on the market. Only one winner will be selected based on an assessment by an independent jury.
Online registration and eligibility criteria are available on the regional Technology Fast 50 website at www.deloitte.com/cefast50. Eligible registrants will join automatically the competition known as the Deloitte EMEA Technology Fast 500. Registration for this year’s ranking will close on August 14, 2016. Final rankings will be announced in October 2016.