January 30, 2008 08:00 ET

Deloitte: Applications Open for 2008 Deloitte Technology Fast 50™ Awards

Canada's top technology award continues to attract Canada's best and brightest entrepreneurs and industry innovators

TORONTO, ONTARIO--(Marketwire - Jan. 30, 2008) - Applications are now open for the 2008 Deloitte Technology Fast 50™ awards, Canada's pre-eminent technology awards program. The awards are a sought-after mark of excellence for Canadian-owned and managed technology companies and rank the country's 50 fastest growing technology companies based on percentage revenue growth over five years. Thousands of companies have competed for the ranking since the program was launched over a decade ago, in 1997.

Combining technological innovation, entrepreneurship and rapid growth, Deloitte Technology Fast 50™ companies - large, small, public and private - span a variety of industry sectors, and are leaders in hardware, software, telecom, and emerging areas, such as clean technology. The program also augments the broader Deloitte North American Technology Fast 500, as winners are eligible for this prestigious ranking.

Led by entrepreneurs and visionaries, winning companies have ranged from hot emerging companies to more established world-class Canadian organizations, with a median cut-off revenue growth rate of 425% over five-years. In addition, 2007 Deloitte Technology Fast 50™ winners realized an average growth rate of 3,732%, generated $3.7 billion in combined revenues, and employed almost 15,000 people across Canada.

"World-class companies continue to emerge from technology hotspots across Canada and, each year, the Deloitte Technology Fast 50™ awards reflect their entrepreneurial drive and often stunning growth," says John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "By adding a new 'green technology' category last year, the award program now acknowledges a rapidly-emerging sector that holds tremendous promise for the Canadian economy."

Gavin Garbutt, 2007 Deloitte Technology Fast 50™ winner is co-founder, president and CEO, N-able Technologies. Reflecting on what the award has meant to his company, he says, "I consider N-able Technologies' ranking in the Deloitte Technology Fast 50™ program an important building block as a growing North American company. This highly recognized designation validates our business instincts, while giving us the confidence of knowing that we are among a thriving community of other leading Canadian technology companies. It is also a way for employees to share and enjoy in our company's success. I highly recommend this program to other fast growing technology companies."

The following four award categories are presented to Canadian technology companies in regional Deloitte Technology Fast 50™ Galas across the country each September:

- Deloitte Technology Fast 50™ Ranking - A ranking of the 50 fastest-growing Canadian technology companies with the highest percentage revenue growth over five years. To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of $5 million or more, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of subject matter experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.

- Companies-to-Watch Awards - Based on the same criteria as the Deloitte Technology Fast 50™ ranking, this award honours early-stage Canadian technology companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate. Companies must display the management experience and superior technology that mark a successful early-stage company poised for continued growth.

- Leadership Awards - Based on the same criteria as the Deloitte Technology Fast 50™ ranking, these awards are presented to companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies. These companies are the elite members of the Canadian technology industry, whose ability to create a distinct competitive advantage in a high-growth market allows them to dominate their sector and able to quickly join the ranks of other Canadian global leaders.

- Deloitte Technology Green 15 Awards - These awards honour companies creating innovative, important, and economically viable intellectual property in the burgeoning field of green technology. Deloitte Technology Green 15™ companies are judged on technology solutions that deliver both a significant environmental impact and demonstrate a compelling return on investment for their clients. In doing so, they are helping position Canada as a global leader in the development of commercially viable green technology.

Full award details and online entry forms for the 2008 Deloitte Technology Fast 50™ awards are available at, or by calling 1-888-6FAST50. The deadline for submitting applications is mid-May 2008.

Winners will benefit from newly-announced Technology Fast 50™ Community

As part of its ongoing commitment to winners past and present, the program recently launched the Deloitte Technology Fast 50™ Community, an "alumni" concept that provide winning companies across the country with year-round networking and educational opportunities. Focused on generating eminence for the technology industry, while providing a forum for business leaders to connect with Canada's top technology leaders, the Deloitte Technology Fast 50™ Community will host national networking and educational events for winners. The popular program website,, will feature a members-only online forum and community members will receive special offers from program sponsors and other fellow winners.

Program sponsors

All award winners in the Deloitte Technology Fast 50™ Community benefit from the long-term commitment and industry-leading services of program sponsors that include Gowlings, GrowthWorks, CIBC World Markets, Wellington Financial, Stonewood Group, and CATAAlliance.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 7,600 people in 56 offices. Deloitte operates in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms have any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries and not by the Deloitte Touche Tohmatsu Verein.

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