10th year of Technology Fast 50 Competition in Central Europe starts
Expects the internet sector to dominate the rankings
„ The asset of Fast 50 for our company is the will and effort to go further, develop and expand to other markets. This award also strengthens the trust relationships with our clients and partners which are also very important.“
— Peter Weber,
General Director, InterWay, s.r.o.
Deloitte launched the Technology Fast 50, an annual competition recognising the fastest growing technology companies in Central Europe. This year marks the competition’s ten-year anniversary. Technology companies are encouraged to register given the high profile of the award in the industry and region.
“ Placing on the ranking can have a positive impact on the organisation’s reputation, relationships with customers as well as partners, and attract prospective employees,” states Dariusz Nachyla, the Managing Partner for the Technology, Media & Telecommunications industry in Central Europe.
“ InterWay ranked well in Fast 50 several times. The fact that our company ranked and was awarded in the contest is a proof that also in a small country like Slovakia there are companies that are able to compete with the transnational companies. Our success testifies that you can realize brave plans also in Slovakia. The ranking in Fast 50 is at the same time a confirmation of good intentions, efforts and hard work of all employees,” said Peter Weber, General Director in InterWay, s.r.o.
“ Fast 50 is an extraordinary effort of Deloitte enabling developing companies to promote themselves in the EU and globally. The asset of Fast 50 for our company is the will and effort to go further, develop and expand to other markets. This award also strengthens the trust relationships with our clients and partners which are also very important,” Weber concludes.
“ Almost every year our company ranks in the competition and thanks to that we are regularly contacted for cooperation by various Slovak and international companies. Participation in the contest surely raised awareness about our company,” added Radoslav Balajka Director General of Millennium 000, spol. s r. o.
Last year, the winning companies experienced the highest average growth (1271%) in the history of the competition which will certainly be hard to replicate but is not impossible. “ Although the current global economic climate did have implications on businesses throughout Central Europe during the last quarter of 2008, we do not expect a significant drop in the average growth rate among the Technology Fast 50 companies,” predicts Nachyla.
The online retail sector is expected to grow further as broadband household penetration continues to rise in the region, driving spending over the Internet. At the same time, major advertisers turn to online advertising and new media channels in order to improve their customer targeting efforts and to more effectively gauge their marketing spending given their focus on cost control and customer segmentation. “ We estimate that this year’s ranking will reflect a shift towards the Internet as this sector offers noteworthy growth opportunities even in the economic downturn,” says Nachyla.
In addition to the main award category, Deloitte will present the Rising Stars and Big 5 awards. The Rising Stars award recognises companies that are quickly making a name for themselves but do not meet the minimum of five years in operation criterion. The second award, the Big 5, is new and it will identify the fastest growing companies that have exceeded revenues of EUR 25 million in the last measured year (2008).
Online registration and eligibility criteria can be found on the regional Fast 50 website, www.deloitte.com/fast50ce. This year’s competition will close on 10 July 2009. As in previous years, winners of the regional competition will automatically be nominated in the Europe-wide competition known as “ Technology Fast 500 EMEA”.
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© 2009 Deloitte Slovakia.