BC-based companies snag the top two spots on Deloitte’s Technology Fast 50
TORONTO, ON–(Marketwired – November 16, 2016) – Deloitte today announced the winners of its Technology Fast 50 program — a class of companies that are more diverse and growing faster. Over four times as many of this year’s winners had greater than 40 percent of their hires be women than last year (32 percent vs. 8 percent) and achieved strong average three-year revenue growth of 2,652 percent, more than double the same figure for 2015 winners.
Technology Fast 50 companies are selected for demonstrating innovation, leadership and rapid revenue growth over their last four years of operations. Deloitte also celebrated winners of its Companies-to-Watch (CTW) category for early stage growth and its Leadership Award category.
Clinching the top spot on this year’s Technology Fast 50 list is UrtheCast, a Vancouver-based technology company that serves the rapidly evolving geospatial and geoanalytics markets with a wide range of information-rich products and services. Urthecast had a revenue growth of 72,938 percent between 2012 and 2015.
In second place is Cooledge Lighting Inc., another Vancouver-based company that specializes in delivering innovative lighting solutions, with a growth of 16,966 percent between 2012 and 2015.
In the third spot is Calgary-based Benevity Inc., a global leader in online workplace giving, matching, volunteering and integrated grant management solutions, achieving a growth rate of 5,869 percent.
Last month, Deloitte released The future belongs to the bold, a report that links for the first time courageous actions to stronger business results. Among the findings, the report revealed that courageous businesses pursue growth more aggressively than their fearful peers. Almost three quarters (sixty-nine percent) of courageous businesses saw revenues rise last year, compared to less than half (forty-six percent) of fearful businesses. Fast 50 winners achieve impressive growth which can be an indication of their continual pursuit of courageousness through deliberate action and bold decision-making.
“Technology Fast 50 winners are just the kind of companies we need in order to compete on a global basis and grow more prosperous as a nation,” said Anders McKenzie, Technology, Media and Telecommunications (TMT) Managing Partner and Leader for Deloitte’s Technology Fast 50 program. “They push the boundaries of innovation and make investments to bring new products and services to market. These are bold companies that pursue growth aggressively and are rewarded with increased revenues.”
Deloitte’s annual survey of Technology Fast 50 company CEOs found that developing more inclusive leadership skills, hiring a more diverse employee base and establishing senior managers and managers as models for inclusion are the top three steps that winners believe their company should take to create an inclusive and engaged workplace. 83 percent agree that creating and maintaining a diverse and inclusive workplace is one of the top 3 strategic drivers of their company’s success.
“It’s encouraging that Fast 50 companies are not only investing in innovation and pursuing better business outcomes, but they also understand the value of leveraging diverse perspectives and experiences to propel their businesses forward,” said McKenzie.
Thirty-one companies on this year’s Technology Fast 50 program are first-time winners. The majority of the Technology Fast 50 winners are from Ontario (26), followed by British Columbia (12) and Quebec (7) with the remaining balance from the Prairie region. This year’s Leadership award winners include Aeryon Labs, Big Blue Bubble, Klick, Index Exchange and Real Matters. This prestigious category recognizes organizations for demonstrating innovation and leadership.
A complete list of winners of the Technology Fast 50, Companies-to-Watch and Leadership Award categories is available at www.fast50.ca
Deloitte, one of Canada’s leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
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