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Technology Fast 50

Frequently asked questions

Eligibility

What criteria are used to evaluate and select winners?

Companies — public or private, large or small — must be headquartered in, and create their intellectual property, in Canada. In an online application form available on the Fast 50TM site, each nominee confidentially provides its financials, a brief company profile and basic information on its business.

  • To qualify for the Technology Fast 50™ ranking, companies must have been in business for at least five years and have revenues of at least $5 million.
  • Companies-to-Watch awards are open to early-stage technology companies that have been in business for less than five years.
  • Technology Fast 50™ Leadership award candidates are judged on their ability to create a distinct competitive advantage in a high growth market.

Upon receipt of Technology Fast 50™ applications, teams of subject matter experts conduct interviews with candidates across Canada and participate in regional and national judging panels where companies are evaluated based on the following criteria:

  • Competitive advantage;
  • Size, growth and market attractiveness;
  • Management effectiveness and organization;
  • Financial performance;

What types of companies make the cut?

Technology Fast 50™ companies are diverse - large, small, public, private - and they come from a variety of industries. Technology Fast 50™ companies are leaders in sectors such as hardware, software, telecommunications and digital media, as well as new and emerging areas, such as green technology and nanotechnology. Technology Fast 50™ companies demonstrate revenue growth, technological innovation and entrepreneurial spirit.

Do subsidiaries of foreign-owned companies qualify?

Subsidiaries of foreign-owned companies do not qualify for the Canadian ranking, but may qualify for one of the other Technology Fast 50™ rankings offered by our Deloitte counterparts in the United States and around the world.

Application

What is Deloitte’s role in the Technology Fast 50™?

Each year Deloitte receives hundreds of applications for the Technology Fast 50™ awards. Each nominee confidentially provides revenue details as required for the program category to which they’ve applied, a brief descriptive profile and basic information about its business. Once received, nomination forms are reviewed and verified by Deloitte for eligibility. Teams from Deloitte and Technology Fast 50™ sponsors conduct face-to-face interviews across Canada. Companies are judged on criteria such as market attractiveness and competitive advantage.  The results of these interviews are sent to regional and national judging panels made up of Deloitte and subject matter experts from sponsors who help determine and rank the leaders in each category.

Are rankings based on fiscal or calendar year revenues?

The Technology Fast 50™ ranking is based on fiscal year revenue growth covering years 2009 to 2013.

How is the revenue growth calculated? 

Companies are ranked based on percentage growth of fiscal year operating revenues over five years (2009 to 2013). Here's the math: 2013 revenues minus 2009 revenues divided by 2009 revenues = total percentage growth over five years.

(2013 – 2009) / 2009 = 5 year % growth

Why are rankings based on growth of revenues rather than on profits?

Since companies have different ways of recognizing profits, Deloitte determined that a ranking based on pure revenues makes the most sense. Ranking fast-growth technology companies by revenue growth sets a level playing field for all nominated companies and makes the Technology Fast 50™ program as fair and accurate as possible.

Will my company’s revenue numbers be made public?

The Technology Fast 50TM and Technology Fast 500TM programs only publish the five-year revenue growth rates.

Why does Deloitte require copies of financial statements?

We collect copies of your audited financial documents to assist us in evaluating your application. Candidates are reviewed by Deloitte and its Technology Fast 50™ sponsors according to the published awards criteria. Candidate information is shared with national sponsors and is retained by Deloitte to facilitate the awards program. The use of these documents is restricted to Deloitte and its program sponsors. For additional details on our privacy policy, please visit our Fast 50 web site.

How can companies apply?

Nomination forms for the 2013 program are available online on the Fast 50 web site. Companies can also call 1-888-6FAST50.

How long does it take to submit an application?

With all the right information at hand, the application process should take no longer than 20 minutes.

How many companies apply to the program each year?

Each year, Deloitte receives hundreds of nominations.

What is the North American Technology Fast 500™ program?

The Deloitte Technology Fast 500™ is an annual ranking of the 500 fastest-growing technology, media, and telecommunications companies in the United States and Canada based on percentage revenue growth over five years. 

What is the difference between the Technology Fast 500™ and Technology Fast 50™ programs?

The Technology Fast 500™ is a North American program and the Technology Fast 50™ is a regional program. The Technology Fast 500™ is a ranking of the 500 fastest growing companies in North America. There are regional Technology Fast 50TM programs throughout the United States and Canada, each one ranking its region’s 50 fastest growing companies.

Are all Technology Fast 50™ ranked companies eligible for the Deloitte Technology Fast 500 ranking?

Yes.

Benefits

What benefits do companies get from this ranking?

Being part of the Technology Fast 50™ ranking communicates your company’s great business results and strong management skills. It also provides a strong endorsement from Canada’s largest professional services firm and the program’s high profile sponsors. Over the last 16 years, Technology Fast 50™ winners have garnered national media attention and publicity, industry recognition, invitations to exclusive Technology Fast 50™ community events with industry leaders and peers, unparalleled industry recognition, and heightened employee morale. Winning firms are proud to showcase their achievement with the coveted Technology Fast 50™ logo on their marketing materials and business cards. Winners are also eligible for the prestigious North American Technology Fast 500™ ranking, thus maximizing their exposure.

Is there an awards ceremony for Technology Fast 50™ winners?

Awards are presented during regional invitation-only events across the country in Fall 2014.

Do companies receive an actual award?

Yes, they do.  Awards are provided to all winners.

Will the Technology Fast 50™ ranking appear in the local or national press?

A national press release will be sent out across Canada Newswire and to all national and business media announcing the winners and the rankings. In previous years, this press release has generated considerable media coverage.

When do companies issue their press release or publicly announce their win with the Technology Fast 50™ ranking and/or award?

This information is strictly embargoed until Deloitte makes the official announcement. 

Special thanks to our sponsors

Bennett Jones OMERS Ventures    

Technology Fast 50TM
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