Sixty-six of the fastest growing tech companies in Asia Pacific call Australia homeDOWNLOAD
6 December 2013: Despite being a relative minnow in terms of population, Australian tech entrepreneurs are more than holding their own against the giants of the region in the 2013 Deloitte Technology Fast 500 Asia Pacific.
Australia saw substantial growth for the third consecutive year, with 66 companies ranking in the top 500, which is six more than in 2012 and 13 more than in 2011. This year Australian based, PlanB Logistics (5th), BlueChilli Technology (7th),Vinomofo (13th) and b2cloud (14th) all ranked in the top 20.
Joshua Tanchel, leader of Deloitte’s Technology Fast 50 Program said: “In the traditional business world Australian company growth may have been constrained by the size of the domestic market. However, in the high growth digital economy that is no longer an issue. By utilising the internet and mobile technology, Australian tech companies are building businesses that compete and win globally.”
“We are certainly punching well above our weight and taking on the well-established Asia Pacific technology powerhouses such as Taiwan, Japan and South Korea. To have the awesome foursome of PlanB Logistics, BlueChilli Technology, VinoMofo and b2cloud in the Deloitte Technology Fast Top 500 is an outstanding achievement for Australia. It is further evidence of the fact that the local start-up ecosystem is maturing and entrepreneurs are fast becoming Australia’s greatest natural asset.”
China Communications Media Group emerged as number one out of the 500 fastest-growing technology, media and telecommunications companies in the 2013 Deloitte Technology Fast 500 Asia Pacific ranking. China Communications Media Group, one of China's largest mobile software channels, develops, operates and delivers software on both feature and smartphones. China Communications Media Group currently has more than 100 million mobile phone subscribers and grew its revenue 266 times over the past three years.
With 128 companies ranked in the top 500, China emerged this year as the market with the fastest growing companies in Asia Pacific. Taiwan, which ranked #1 last year, ranks #2 in 2013, with 108 companies in the top 500. It continues to be competitive in the technology sector in spite of its much smaller population compared with markets such as China and India.
India has risen from fifth place with its companies ranked in the top 500 in 2011 and 2012, to third place this year, with a total of 78 ranked companies.
The top 500 companies averaged a revenue growth of 356% - staggering by any measure - though this figure is down from last year’s average growth of 467%. The top 5 winners realized an average revenue growth of 10,589%, higher than that of the Top 5 of the four previous years of the program. The top 10 giants reached 6,483%, against 5,209% in 2012.
In addition, a total of nine firms posted revenues surpassing US$1 billion in 2013 and 60 companies had revenues in the range of US$100 million – US$1 billion.
"Asia Pacific technology companies continue to do well in spite of the slowdowns in the China economy and the sluggish economic growth in the U.S. and Europe,” said Jolyon Barker, Global Managing Director, Technology, Media & Telecommunications.
Barker said: “The growth of these Asian companies, which we benchmark at the Technology Fast 500 Asia Pacific program, is truly impressive, especially when economic challenges continue to impose substantive challenges for development.”
On the 20 November 2013, with record revenue growth of 1,723% over the last three years, innovative online wine retail site Vinomofo (Wine Cru Pty Ltd), was declared the winner of the 2013 Deloitte Technology Fast 50. Vinomofo ranked 13th in the Fast 500 Asia Pacific listing.
Joshua Tanchel, leader of Deloitte’s Technology Fast 50 Program highlighted Vinomofo’s innovative customer relationship model and its understanding of the power of social media to enhance consumer engagement.
“Vinomofo has disrupted and redefined the ultra-competitive online wine market since its launch three years ago. It has pioneered a content driven approach that has been a real hit for consumers, and has broken down barriers and opened up new channels to the market by working directly with wine producers.”
Deloitte Technology Fast 500 Top Twenty Ranking - See the table in the downloadable version of this media release
The full list of winners of the Technology Fast 500 Asia Pacific program for 2013 and details about the nomination and eligibility criteria of the program can be found on www.deloitte.com/fast500asiapacific
NB: See our media releases and research at www.deloitte.com.au
For more information about this year’s program please visit www.tech50.com.au