Next generation emerges in Deloitte Tech' Fast 50DOWNLOAD
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Deloitte today welcomed the next generation of Australia’s technology industry’s brightest stars to the 2007 Deloitte Technology Fast 50 Awards Ceremony.
Mobile content and applications provider, Mobile Data Group Pty Limited easily rode to the top of the Deloitte Technology Fast 50 league table, with phenomenal revenue growth of 10237%.
The company’s performance was only previously surpassed by Bill Express who topped the Asia Pacific Fast 500 in 2004 with 54,000% growth.
Now in its seventh year in Australia, the Deloitte Technology Fast 50 program ranks the 50 fastest growing technology companies, public or private, based on percentage revenue growth over three years (2005–2007).
Deloitte Technology, Media and Telecommunications (TMT) partner, Julia Bickerstaff noted that this year the fastest growing companies in the Deloitte Technology Fast 50 were mobile content and wireless service companies.
"For the third consecutive year internet based companies dominated the field, with 44% of the Fast 50 engaged in internet based businesses.
"This is a significant jump, up 10% on 2006 results," she said.
According to CEO of Eclipse, Deloitte’s online advisory arm, Stuart Johnston, with online increasingly becoming mainstream for business these trends are expected to continue.
"Consumer behaviours have changed dramatically as seen by Web 2.0 trends such as the rise of social networking.
"When you combine this with the decreased barriers to entry new technologies can provide, we’re likely to see the number of online rapid growth success stories continue to increase over time," Mr Johnston said.
"This is particularly the case among smaller businesses that are looking to leverage online technologies and channels to maximise growth and profile.
"Web 2.0 is a classic example of the huge potential of online, where the marketplace rather than organisations are defining the opportunities and smaller organisations, which are able to adapt quickly are reaping the benefits."
Ms Bickerstaff added that another interesting trend to note is the decline of software companies this year.
"In 2003, 42% of the Fast 50 was software companies, compared to 14% this year," Ms Bickerstaff said.
"Over the same period, companies involved in communications and networking have doubled."
Ms Bickerstaff said this year the average total revenue of Deloitte Technology Fast 50 participants was smaller.
"Total revenue fell to $903m, less than half the previous year’s average total revenues.
"However, this decline really underlines the changing type of companies in the Fast 50, with this year’s table dominated by younger companies in newer industry segments," she said.
The Fast 50 benchmarking survey this year highlighted a dramatic increase in the number of companies seeking business opportunities outside of Australia.
Please download the attachment below for the full media release.
Read the report - 2007 Deloitte Technology Fast 50 Australia winners