The Deloitte Technology Fast 500 program ranks the 500 fastest-growing technology companies in regions around the world. It includes all areas of technology – from Internet to life sciences, from computers to semiconductors – and covers both public and private companies. The 2008 winners showed substantial growth amidst global economic turmoil. This year, ILI Technology Corp. led the way in the Asia Pacific region with a remarkable 93,757.52 percent growth. This region saw average growth rates of 707 percent – the highest point since the program began in 2002. Growth rates of the top five firms have more than doubled over 2007 figures.
The Europe, Middle East, and Africa (EMEA) region showed a decrease in average growth rates over the prior year with the top 500 growing by 1,297 percent in 2008 compared to a record-breaking 1,443 percent last year, which is still impressive in this turbulent economy. This year the top five companies for this region covered an interesting mix of sectors including software, media/entertainment and biotech/pharmaceutical/medical equipment. France mustered the greatest number of fast-growing technology companies in this year’s ranking, followed closely by the UK, which also claimed 2008’s fastest growing EMEA company Thunderhead. Smaller countries such as the Republic of Ireland and the Czech Republic also made impressive strides.
Growth percentages for the 2008 Technology Fast 500 companies in North American ranged from 242 percent to 138,762 percent. The overall average growth of the Fast 500 companies was 3,043 percent, the highest since 2004 when Google topped the list, and up from 1,823 percent in 2007. The top five companies’ average growth rate was 90,540 percent. Hughes Communications Inc. (NASDAQ: HUGH) led in this region with a revenue growth rate over five years of 138,762 percent, moving from revenues of US$699,000 in 2003 to US$970,648,000 in 2007 for its first appearance on Deloitte’s Fast 500 ranking.
The full rankings are available from the Deloitte website