Hunt begins for Ireland’s fastest growing tech firms

Entries are now open for the 20th annual Deloitte Fast 50 Awards which rank Ireland’s fastest growing tech companies.

The Deloitte Fast 50 Awards recognise the indigenous technology companies that have demonstrated exceptional growth in turnover in the last four years.

Deloitte is calling on companies from across the technology spectrum – including the software, hardware, communications, media and entertainment, fintech, cyber security, environmental technology and healthcare and life sciences sectors – to apply for this year’s awards.

“The Fast 50 awards are a great celebration of the entrepreneurial businesses across Ireland and their longevity is a testament to the continued evolution of a robust local technology industry across the island”

The awards demonstrate the contribution of the indigenous technology sector – cumulatively, the 2018 Fast 50 winners generated approximately €2.5bn in total annual revenues in 2017. The average revenue of companies featuring on the ranking was approximately €50m, while the average growth rate of the companies over the last four years was 373pc.

Leaders of digital disruption

“Since 2000, the awards have showcased an innovative and diverse range of Irish technology companies,” said David Shanahan, partner, Deloitte Ireland and Fast 50 programme lead. “From the opportunities that came from technology deregulation and the growth of the financial services sector here, to the growth of e-learning and virtualisation technologies, Irish technology companies have proven themselves adept at leading the way in terms of disruption and transformation. We’re proud to have showcased their achievements, and look forward to recognising this year’s successful companies also.”

Last year, e-commerce software company xSellco secured the top spot in the ranking. The company achieved a growth rate of 2,874pc over the last four years. xSellco provides innovative products that allow e‑commerce businesses of all sizes to fulfil their potential.

First Derivatives, the leading provider of products and consulting services to some of the world’s largest finance, technology and energy institutions, was the first winner of the Fast 50 Technology Awards in Ireland. They have featured on the ranking 16 times in total.

“We’ve been involved with the Fast 50 programme since it began and have found it to be not only great recognition of every stage of the company’s growth but also a chance to meet peers and like-minded businesses who are striving to be leaders in their own fields,” said Shane Mulholland, senior vice-president of Marketing and Operations at First Derivatives.

“The Fast 50 awards are a great celebration of the entrepreneurial businesses across Ireland and their longevity is a testament to the continued evolution of a robust local technology industry across the island.”

Once again, this year’s awards programme will include a number of award categories in addition to the overall ranking. These include the cyber security award, which will recognise a company that is developing cutting-edge solutions in this important area. The awards will also include the fintech award category, sponsored by Silicon Valley Bank.  Recognising that there are many very young companies in the fintech sector, entrants will need to demonstrate exceptional growth in turnover in the last three years. The winner of this award will receive an expenses-paid trade and networking mission to Silicon Valley hosted by Silicon Valley Bank.

For details of criteria and how to enter, visit www.fast50.ie. The closing date for entries is 6 September 2019 and the winners will be announced at the awards ceremony on 25 October, 2019.

Pictured above: David Shanahan, Deloitte Ireland; Triona Mullane from mAdme Technologies; and Ray Nolan, CEO, XSellco. Image: Jason Clarke Photography

Written by John Kennedy (john.kennedy3@boi.com)

Published: 23 August, 2019