Content provided by Deloitte. 

In the 19th annual Deloitte Technology Fast 50 program™, winners have proven to be more diverse and faster growing than ever before. Compared to only eight percent of last year’s winners, 32 percent of the 2016 winners indicated that more than 40 percent of their new hires were women, a key indicator of progress on diversity and inclusion. This year’s winners achieved an impressive average revenue growth rate of 2,652 percent from 2012 to 2015, more than double last year’s figure.

In the spotlight is Western Canada – home of the top three winners: Vancouver’s UrtheCast, specializes in Earth observation data, serving the geospatial and geoanalytics fields, claimed the top spot with a revenue growth of 72,938 percent. Cooledge Lighting, also from Vancouver, follows in second place with a 16,966 percent revenue growth and Calgary-based, Benevity ranking third with a growth rate of 5,869 percent.

The majority of the Fast 50 winners are from Ontario (26), followed by British Columbia (12) and Quebec (7). Overall, 31 are first-time winners and 58 Canadian companies ranked in the North American Technology Fast 500™ program.

Ontario-based Aeryon Labs, Big Blue Bubble, Klick, Index Exchange, and Real Matters were honoured with the prestigious Technology Fast 50 Leadership award for their innovation and leadership in the industry. Eleven early stage companies were also named in the Companies-to-Watch category for their disruptive innovation and potential for continued growth.

Growth belongs to the bold
Earlier in the year, Deloitte released The future belongs to the bold, a report that for the first time links courageous actions to stronger business outcomes. Among the findings were that courageous businesses pursue growth more aggressively than their fearful peers. While only 11 percent of Canadian businesses were found to be truly courageous, 30 percent are on the cusp of it. The impressive growth of Fast 50 winners is often an indication of their courage – demonstrated in deliberate action and bold decision-making.

Survey highlights importance of diversity and inclusion
Deloitte’s annual survey of Technology Fast 50 CEOs found that developing more inclusive leadership skills, hiring a more diverse employee base, and establishing senior managers and managers as models for inclusion are the top three steps winners believe their company should take to create an inclusive and engaged workplace. 83 percent agree that creating and maintaining a diverse and inclusive workplace is one of the top three strategic drivers of their company’s success.

Technology Fast 50 winners are selected for demonstrating innovation, leadership, and rapid revenue growth over their last four years of operations. For 19 years, the program has recognized private and public Canadian companies representing a variety of industry sub-sectors – from hardware to digital media. The program features three components: