11/05/2010 - Call For Entries For 2010 Deloitte Technology Fast 50 Competition In Central Europe
Deloitte announces the opening of registration for the Technology Fast 50 competition in Central Europe. The preeminent regional competition for companies in the technology sector, now in its 11th year, highlights both established and emerging technology companies in the region.
Bucharest, May 11, 2010 – Today, Deloitte launched the Technology Fast 50, an annual competition which recognises and ranks the fastest-growing technology companies in Central Europe. Registration is open for this high-profile regional and industry award until July 9.
Last year, Romania was represented by six companies in the Technology Fast 50 Central Europe top, double than when it first joined the competition, in 2008. Results thus placed the country on the fourth position among countries participating in the competition.
Romanian finalists last year were software developers: TeamNet International (2nd place), AROBS Transilvania Software (8th), Timisoara-based LASTING Software (29th), Iasi-based The RED Point (35th), and Bucharest-based Advantage Software Factory (45th), and Romanian Soft Company (47th).
“Although affected by the general downturn, technology companies have proven more resilience to the crisis, given the almost indispensable nature of their businesses,” said Partner Ahmed Hassan, Deloitte Romania Technology, Media and Telecommunications Industry Leader. “Survival and growth depend on their ability to innovate and adapt to the market’s ever-changing needs. Romanian companies have shown significant potential within the regional industry, given their excellent results recorded of the 2008 and 2009 editions of the program. In this case, size does not matter. What counts is the entrepreneurial spirit and business feel of the market, ensuring a rapid growth pace. However, companies need to ensure sustainable growth in the long run, because they will eventually face the big, established companies of this business.”
Overall, in last year’s competition, the winning companies achieved an average growth rate of 933%, down from 1,271% in 2008.
“The prior year’s growth rate was a remarkable achievement given the challenging business climate. While the software sector remained dominant in the ranking, three of the four fastest-growing companies were from the internet sector. We see high potential in both sectors and expect them to report further growth this year,” states Dariusz Nachyła, Regional Managing Partner for the Technology, Media & Telecommunications industry in Deloitte Central Europe.
The competition’s prestige increases every year as companies from more countries participate, with a total of 10 countries represented on last year’s ranking. While the majority of these fastest-growing technology companies were based in Hungary, Poland, and the Czech Republic, the growing presence of Romanian companies threatens to upset this trend.
In addition to the main ranking and Fast 50 awards, Deloitte will present Rising Stars awards to the fastest-growing technology companies that have been in operation between three and five years, and Big 5 awards to the companies that have exceed revenues of 25 million Euro in 2009. In addition, a new Sustainable Growth award will be presented to the companies that have appeared on the Technology Fast 50 ranking in Central Europe for the longest number of unbroken years since the competition began in 2000.
Online registration and eligibility criteria can be found on the regional Technology Fast 50 website, www.deloitte.com/fast50ce. This year’s competition will close on July 9, 2010. As in previous years, winners will be entered automatically into the wider competition known as the Deloitte EMEA Technology Fast 500.
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Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/ro/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's more than 169 000 professionals are committed to becoming the standard of excellence.
Bucharest, May 11, 2010 – Today, Deloitte launched the Technology Fast 50, an annual competition which recognises and ranks the fastest-growing technology companies in Central Europe. Registration is open for this high-profile regional and industry award until July 9.
Last year, Romania was represented by six companies in the Technology Fast 50 Central Europe top, double than when it first joined the competition, in 2008. Results thus placed the country on the fourth position among countries participating in the competition.
Romanian finalists last year were software developers: TeamNet International (2nd place), AROBS Transilvania Software (8th), Timisoara-based LASTING Software (29th), Iasi-based The RED Point (35th), and Bucharest-based Advantage Software Factory (45th), and Romanian Soft Company (47th).
“Although affected by the general downturn, technology companies have proven more resilience to the crisis, given the almost indispensable nature of their businesses,” said Partner Ahmed Hassan, Deloitte Romania Technology, Media and Telecommunications Industry Leader. “Survival and growth depend on their ability to innovate and adapt to the market’s ever-changing needs. Romanian companies have shown significant potential within the regional industry, given their excellent results recorded of the 2008 and 2009 editions of the program. In this case, size does not matter. What counts is the entrepreneurial spirit and business feel of the market, ensuring a rapid growth pace. However, companies need to ensure sustainable growth in the long run, because they will eventually face the big, established companies of this business.”
Overall, in last year’s competition, the winning companies achieved an average growth rate of 933%, down from 1,271% in 2008.
“The prior year’s growth rate was a remarkable achievement given the challenging business climate. While the software sector remained dominant in the ranking, three of the four fastest-growing companies were from the internet sector. We see high potential in both sectors and expect them to report further growth this year,” states Dariusz Nachyła, Regional Managing Partner for the Technology, Media & Telecommunications industry in Deloitte Central Europe.
The competition’s prestige increases every year as companies from more countries participate, with a total of 10 countries represented on last year’s ranking. While the majority of these fastest-growing technology companies were based in Hungary, Poland, and the Czech Republic, the growing presence of Romanian companies threatens to upset this trend.
In addition to the main ranking and Fast 50 awards, Deloitte will present Rising Stars awards to the fastest-growing technology companies that have been in operation between three and five years, and Big 5 awards to the companies that have exceed revenues of 25 million Euro in 2009. In addition, a new Sustainable Growth award will be presented to the companies that have appeared on the Technology Fast 50 ranking in Central Europe for the longest number of unbroken years since the competition began in 2000.
Online registration and eligibility criteria can be found on the regional Technology Fast 50 website, www.deloitte.com/fast50ce. This year’s competition will close on July 9, 2010. As in previous years, winners will be entered automatically into the wider competition known as the Deloitte EMEA Technology Fast 500.
###
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/ro/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's more than 169 000 professionals are committed to becoming the standard of excellence.
