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Technology Fast 500™: Frequently Asked Questions

What is the Technology Fast 500™?

The Deloitte Technology Fast 500 is the pre-eminent technology awards program in North America (U.S. and Canada) with 2014 being its twentieth anniversary. Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public, and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, life sciences and emerging areas, such as clean technology. These companies are on the cutting edge and are transforming the way we do business today.

The Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from applications submitted directly to the Technology Fast 500 web site, and public company database research conducted by Deloitte Services LP. Technology Fast 500 award winners for 2014 are determined based on percentage fiscal year revenue growth during the period from 2009 to 2013.The ranking includes both public and private companies.

Is there a nomination fee?

No.

Are revenues published?

No. The Fast 500 ranking will continue to disclose percentage revenue growth but will not disclose current and base year revenue amounts. Participants will continue to be required to provide revenue support to Deloitte.

What are the programs important dates?

Application period: April 8 - June 27, 2014
Winner’s announcement: November 13, 2014
Congratulatory events: Information on regional events can be found here.

In order to meet our program deadlines we are unable to extend these dates for any reason. Failure to meet the above deadlines will preclude your company from participating.

Are there similar programs around the world?

Yes. Deloitte has Technology Fast 500 programs in Asia Pacific and EMEA (Europe, the Middle East, and Africa).

Who are the primary contacts?

United States -  Kevin Schimmel and Dina Bettinsoli, Fast500@deloitte.com
Canada - Jennifer Heard, Fast50@deloitte.ca
Asia Pacific - Yvonne Dow, AsiaPacFast500@deloitte.com
EMEA - Karen Hogger, emeafast500@deloitte.co.uk

Does the program use social media?

Yes. @DeloitteTMT and #fast500

Is there an awards ceremony?

Awards are presented during regional invitation-only events across the country. More information on regional events can be found here.

Is there a list of past winners?

Yes. The listing of historical winners is available here.

What is the ranking based on?

Award winners are selected based on percentage fiscal year revenue growth over a defined period. Because the program ranks companies based on fiscal year revenues, it is an indication of past growth. It does not take into account current performance or profitability.

Where do entries for the program come from?

Entries for the program come from applications submitted directly to the Technology Fast 500 web site and public company database research conducted by Deloitte Services LP.

How many companies apply to the program each year?

Each year, Deloitte receives hundreds of applications.

Have any companies continuously ranked on the list since the inception of the program?

No.

Why are there not more repeat companies?

Because the Technology Fast 500 is based on fiscal year revenue growth over a defined period, each company’s baseline revenue can increase dramatically each year. A company can be very successful but not rank. The Technology Fast 500 ranks companies that have experienced exceptionally fast growth. It is not a measurement of current revenue, stock performance, profitability, or anticipated future success.

What division of Deloitte puts on the Deloitte Technology Fast 500?

The program is presented by Deloitte’s Technology, Media & Telecommunications (TMT) practice.

How long has the program been around?

The program was founded in 1995 and celebrates its twentieth year in 2014.

Eligibility Requirements:

How do companies qualify?

Eligibility requirements can be found here.

Are the eligibility requirements for the 2014 program the same as the 2013 program?

Yes, however we are providing guidance regarding revenue growth.  Revenues must have doubled (100% or greater revenue growth) between 2009 and 2013.

What is revenue support?

A completed Technology Fast 500 Revenue Certification Form – CEO/CFO, signed by the applicant’s Chief Executive Officer (CEO) or Chief Financial Officer (CFO), is required along with any combination of the following.

  • Audited Financial Statements, including the signed audit report by an Independent Public Accountant.
  • Reviewed Financial Statements, including the signed review report by an Independent Public Accountant.
  • Federal Tax Return as submitted to the IRS and signed by a “Company Officer”, page 1 only. If the return was filed electronically and does not include a signature, please provide the “signed e-file authorization form” along with page 1.

For companies who are not able to meet the revenue support deadline, June 27, 2014, the following option is available for fiscal year 2013 revenue amounts only:  

  • Unaudited/Unreviewed Internal Financial Statements along with the name of your Independent Public Accountant and an estimate of when the audited/reviewed financial statements will be available.
Does a company have to be publicly held to qualify?

No, but private companies and public companies traded via over–the-counter exchanges must submit an online application.

Are rankings based on fiscal or calendar year revenues?

The ranking is based on fiscal year revenue growth from 2009 to 2013.

What constitutes a majority of the company’s operating revenues?

A majority is defined as greater than 50%.

What are the choices for industry classification?

Companies are classified in one of the following industry categories:

  • Biotechnology/Pharmaceutical
  • Clean Technology
  • Communications/Networking
  • Computers/Peripheral
  • Internet
  • Medical Devices
  • Media and Entertainment
  • Scientific/Technical Instrumentation
  • Semiconductor
  • Software
How are industry classifications determined?

Public companies are classified by the primary SIC code listed on their most current Form 10-K, S-1, etc. on file with the SEC. However, if a public company submits an entry via the public application form we defer to the industry selected on the online form.

Private companies self select industry classification when completing the online application form.

What if my company is acquired after I submit my application?
Companies that are acquired prior to the finalization of the list are not eligible to participate. We strive to publish a list that is as current as possible.

Application Process:

Is there a nomination fee?

No.

When is the deadline for applying?

The application period begins on April 8 and closes on June 27, 2014.
There are no extensions.
Failure to meet the above deadlines will preclude your company from participating.

Private companies and public companies traded via over–the-counter exchanges must complete an online application.

Public companies on the NYSE, NASDAQ or AMEX stock exchanges are data mined by Deloitte Services LP from public databases. Public companies are encouraged to complete the nomination form and/or check with the National Fast 500 team, via e-mail at Fast500@deloitte.com, to confirm their inclusion in the research/nomination process.

Does the application form have to be completed online?

Yes. Applications may only be submitted online.

Can the online applications form be saved and completed at a later time?

Yes. The application form can be saved for completion at a later time. Detailed instructions on how to complete the form can be found on the eligibility requirements and revenue verification pages.  

We strongly encourage you to review these materials prior to completing the application form.

How will I know the online application form was received by Deloitte?

The application contact will receive an automated E-mail notification indicating the online application was received into our database.

Is there a hard copy of the application form I can review prior to starting the online application process? Yes.

To view and download a sample PDF of the private company online application form, click here.
To view and download a sample PDF of the public company online application form, click here.

I have created a draft application that I would like to delete. Can I delete it myself?

Yes. As long as it it still in draft form. Simply log into your application and click the delete button. Submitted applications, however, can only be deleted by the Fast 500 team. Requests should be sent to Fast500@deloitte.com.

I deleted my company's online application form, is there any way to retrieve it?

No, To be considered for the program, a new application will need to be completed and submitted by June 27, 2014.

How is the percentage growth calculated?

[(Current Year Revenue – Base Year Revenue) / Base Year Revenue] x 100 = Percentage Growth

Is there any situation in which we can submit percentage revenue growth instead of providing the revenue amounts?

No. In order to accurately rank the Fast 500 nominees and to assist Deloitte in the validation of information provided during the application process, applications are required to submit revenue amounts along with supporting documentation. The use of these materials will be limited to the evaluation of the applicants’ Technology Fast 500 eligibility. Detailed information can be found here.

Can we submit the required proprietary technology support at a later time?

Applications forms must be submitted by June 27, 2014.

Does the program require that I provide supporting documentation for revenue amounts.

Yes. In order to accurately rank the Fast 500 applicants and to assist Deloitte in the validation of information provided during the nomination process, applications are required to submit revenue amounts along with supporting documentation. The use of these materials will be limited to the evaluation of the applicants’ Technology Fast 500 eligibility. Detailed information can be found here.

Can you provide more information on what to submit for proprietary technology support?

The proprietary technology statement should be a detailed description of your technology and how your customers use it. Often times, companies can leverage this information from materials that have already been developed (i.e. product brochure). The statement should be in either Word or PDF format. Additional information regarding nominees’ revenue and proprietary technology may be requested.

I am in the process of completing the online nomination form and our CFO doesn’t anticipate having the audited 2013 financial statement back in time for the application deadline. What other documents can I submit for 2013?

We can accept one of the following:

  • Reviewed Financial Statements, including the signed review report by an Independent Public Accountant.
  • Federal Tax Return as submitted to the IRS and signed by a “Company Officer”, page 1 only. If the return was filed electronically and does not include a signature, please provide the “signed e-file authorization form” along with page 1.

For companies who are not able to meet the application deadline, June 27, 2014, the following option is available for fiscal year 2013 revenue amounts only:  

  • Unaudited/Unreviewed Internal Financial Statements along with the name of your Independent Public Accountant and an estimate of when the audited/reviewed financial statements will be available.

More information on what needs to be submitted can be found here.

Deloitte happens to be our accounting firm. Would you have access our audited financial statements (tax returns) via this relationship, or do we still need to submit them via the web site?

Even though Deloitte is your auditor, private companies are required to apply and provide all requested information.

Our company’s CEO/CFO has requested that Deloitte sign a NDA (non-disclosure agreement) in order to provide the requested revenue support (financial statements). Will Deloitte sign a NDA?

No. We are not able to provide a NDA.

If an NDA is not possible, could you provide the details on your privacy policy so that I can pass them along?

Yes.  Our privacy policy can be found here.

Winners Information:

Where can I find the Technology Fast 500 Logo to put on my company web site or PPT?

Please contact us at Fast500@deloitte.com.

Do winning companies receive an actual award?

Yes. Official Technology Fast 500 plaques for current winners will be presented at regional recognition events or delivered sometime after November 13, 2014.

How can my company order additional awards?

Your first award plaque is complimentary. Additional award plaques (exact replicate only) may be purchased online, from our authorized vendors:
2009 and later - SBS Promotions at www.jettdirect.com/fast500
2004 through 2008 - Grandmart International Limited, Agnes Ng, at agnes@biz-mart.net and copy cecilialam@biz-mart.net

Where can I find official Media Guidance (press release) for winning companies?

In order to obtain the official media guidance, please contact us at Fast500@deloitte.com.

When do winning companies issue their press release and/or publicly announce their ranking?

We ask that winning companies to honor the embargo date of November 13, 2014, before permitting any external announcement of this ranking or your receipt of this award.

Will the Technology Fast 500 ranking appear in the local or national press?

Deloitte plans to distribute a press release announcing the Technology Fast 500 award winners via PR Newswire on November 13, 2014, at 5:00 a.m. EST.

Deloitte also plans to announce the Technology Fast 500 rankings to key editors and reporters at national and regional media outlets across North America.

Can I follow you on twitter?

Yes, follow us @DeloitteTMT.

Can I tweet about Fast500?

Yes, use the #fast500 hash tag.

 

Fast 500 Connections

 

As used in this document, ‘Deloitte’ means Deloitte LLP (and its subsidiaries). Please see  www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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