Now is the right time to apply for Deloitte Fast50


Deloitte‘s Montreal office wants fast-growing local startups to know that now is the perfect time to apply for its annual Technology Fast50 program. The deadline is under four weeks away, on May 30.

Technology Fast50 is a program that recognizes the 50 fastest-growing Canadian technology companies with the highest percentage revenue growth over four years. Another category, “Companies-to-Watch,” seeks to recognize companies in business for less than four years and have the potential to be a future Technology Fast 50 candidate.

In 2015, four Quebec companies made the top 10, including Frank & Oak in first place overall. Amaya (3rd), Budge Studios (4th) and Adrenaline Amusements (6th) also made the list.

Here’s what Montreal startups need to know about applying for both the Technology Fast50 and Companies-to-Watch streams.

Technology Fast 50 eligibility requirements

Selection criteria requires qualifying applicants to be:

  • In business for at least four years (on or prior to December 31, 2011).
  • Headquartered in Canada or Canadian-controlled, with both management and research and development (R&D) teams also located in Canada.*
  • Investing a minimum of five percent of gross revenues in R&D.
  • Generating significant proportion of operating revenue via proprietary technology and/or intellectual property.
  • Able to prove minimum revenues of CAD$50,000 in 2012 and CAD$5,000,000 in 2015**.
  • Participants in one of the following five sub-sectors: Emerging technologies Hardware/semiconductor Software Telecommunications/wireless

     Digital media

Fast50

Applications must include:

  • Company details, including CEO and CFO contact information.
  • Brief description of company and proprietary technology (max. 300 words).
  • Financial statements (audited preferred) for 2012 and 2015.
  • Net revenues in Canadian or US dollars from 2012-2015, inclusive.
  • Net income and total R&D expenditure for 2015.
  • Total number of employees and sub-total of R&D employees for 2015.
  • Company logo in eps format.

Companies-to-Watch eligibility requirements

Companies-to-Watch selection criteria enables less mature nominees to join the Fast 50community by eliminating minimum revenue requirements. Qualifying applicants must be:

  • In business for less than four years.
  • Headquartered in Canada or Canadian-controlled, with both management and research and development (R&D) teams also located in Canada.
  • Investing a minimum of five percent of gross revenues in R&D.
  • Generating significant proportion of operating revenue via proprietary technology and/or intellectual property.
  • Participants in one of the following five sub-sectors: Emerging technologies Hardware/semiconductor Software Telecommunications/wireless

     Digital media

Applications for the Companies-to-Watch program must include:

  • Company details, including CEO and CFO contact information.
  • Brief company description and any proprietary technology or competitive advantage.
  • Financial statements for 2014 and 2015.
  • R&D expenditure as a percentage of 2015 gross sales.
  • Estimated market potential.
  • Net sales for 2015 in Canadian or US dollars.
  • Employee growth percentage in 2015.
  • Company logo in eps format.

Successful applicants to both streams will be notified in September, while the grand winners will be revealed on November 16 at Deloitte’s glitzy annual event.

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