Despite crisis fast growers in technology

Fast50 Awards: 7 October 2010

Amsterdam, 7 July 2010 – Curious about the 50 fastest growing technology companies of 2010? On 7 October, Deloitte Technology Fast50 will announce which of them has emerged from the crisis as the winner. The competition for the Deloitte Technology Fast50, the ranking for the fastest growing technology companies in the Benelux, will close on 1 August.

Companies whose head offices are based in the Benelux and that develop their own technology can register for the prestigious list. The revenue growth companies have generated over the past five years is the key factor. TomTom, Netlog, Albumprinter and ISM eCompany were among the companies to lead the Fast50 ranking in the past. Companies younger than five years can enter the Rising Star Competition.

New business models
'In times where the transition from old to new business models takes place, realising growth requires a dynamic approach and creativity. Adversity is precisely when new ideas arise and processes are improved', according to Daan Witteveen, the Fast50 program leader and partner within the branch group Technology, Media & Telecom. 'So the strong growth with internet companies should come as no surprise. These companies are perfectly focused on customer demand, work creatively, while the nature of the product makes them scalable.’

Longer start-up time
‘The Netherlands has always produced many tech innovators that would feel right at home in Silicon Valley’, says Witteveen. The R&D investments, though, are generally higher than with many of the internet companies. And their product development often requires a longer start-up time. ‘This makes it more difficult to realise strong growth figures during the initial phase’, he continues. ‘The parties that do achieve fast growth and success, are often invisible because nine out of ten times they lack marketing focus. All the more reason to enter the Fast50’. 

Lightweight precision cables
FibreMax is a prime example of a successful technology company. The producer of lightweight precision cables won last year’s Rising Star Competition, which - unlike the Fast50 – focuses on companies younger than 5 years. The company performed best in terms of scalability, revenue potential and being able to distinguish itself through its own technology. Rinze van der Schuit, founder of FibreMax: ‘Our technology draws a great deal of attention, as it enables activities that technically and economically had not previously been feasible. Various international governments have invited us to present the technology, so we criss-crossed the world over the past year. The United States in particular thought highly of us winning the Rising Star Award in the Fast50 programme. Working with a few major customers, having filed applications for some Joint Industry Projects, and a strong product we are ready to enter the next phase of growth.’