Deloitte recently held their annual Technology Fast 50 event which honors Canadian technology companies for technological innovation, entrepreneurship, rapid growth and leadership. Now in its 16th year, the Technology Fast 50 recognized 17 companies that are making the Fast 50 list for the first time.
All three companies in the top spots this year are new to the program. Vancouver-based QuickMobile, a developer of secure mobile event apps, took the top spot with a growth rate of 10,444 percent. Placing second is Kitchener-based Miovision that creates intelligent solutions to address the challenges facing today’s global transportation networks, followed by Shopify, one of Canada’s leading eCommerce website solutions from Ottawa in the third spot. The complete list of Technology Fast 50 winners is listed below.
“We have several newcomers to the Technology Fast 50 program this year, particularly in the Companies-to-Watch category,” said Richard Lee, Technology, Media and Telecommunications Industry Managing Partner, Deloitte. “There were so many noteworthy Companies to Watch (CTW) that we have the highest number of recipients in this category this year. These companies represent the future of the tech sector in Canada.”
The average growth rate of this year’s Technology Fast 50 companies was 832 percent, which is down from 1,953 percent in 2012 and a decrease from 5,272 percent in 2011. Even so, findings from Deloitte’s annual CEO survey of Technology Fast 50 companies suggest optimism within the industry. Sixty-six percent of respondents believe that outside of Canada, the global economy will grow significantly — a marked increase in optimism compared to 2012 when only 46 percent of respondents felt there would be strong growth in the overall world economy.
The survey revealed that 72 percent of CEOs agreed that the various levels of government do enough to support Canadian technology companies. Further, a strong majority of survey respondents who expressed an opinion (80 percent) agree that the SR&ED (Scientific Research and Experimental Development) tax credit program works well and needs no major improvement. Sixty-nine percent of respondents who shared an opinion also agreed that Canada’s strong network of accelerator programs help early stage technology companies succeed.
2013 Technology Fast 50 ™ winners highlights:
- Ten companies made their fourth consecutive appearance on the list this year
- BlackBerry has made the Technology Fast 50 list for all 16 years of the program. Winners are selected based on their five year revenue growth. Although BlackBerry’s 2013 revenue is lower than the year before, its growth in revenue over a five-year period places it on the winners list again
- Both PointClickCare (Wescom Solutions) and Solium have placed on the list for six years
- CarProof and GuestLogix have each placed on the list for five consecutive years (2009-2013)
- HootSuite has been selected for a second year as a CTW winner