Julian Rae, Deloitte Fast 50 partner for the East of England, said: “The UK Technology Fast 50 awards celebrate innovation and market leading intellectual property in the technology sector. Not only do these awards provide a glimpse into the future of the technology market, but they also provide an excellent opportunity for businesses to highlight their achievements.
“Since 1998, hundreds of companies from all areas of technology have won the UK Fast 50 award. With past winners including the likes of Intelligent Energy, notonthehighstreet.com, Skyscanner and Just Eat, this year’s awards will identify the next generation of dynamic and iconic UK technology companies.”
The 2014 UK Fast 50 winners generated over £963 million in combined total annual revenues, provided jobs for nearly 8,500 people and recorded an average five-year growth rate of 1695% in the year 2013/14.
Rae added: “This year, we have made a number of changes to the entry criteria. We are now measuring turnover growth for a minimum of four years rather than five. This is a change we have made to cater for the fast-growth nature of the UK technology sector. We have also raised the revenue threshold to £806,000 for the most recent year of trading and have modified the sector categories in order to simplify the application process. We hope to see several East Anglian companies in the winning line-up”
Last year’s winner, Switch Concepts, an adtech company, posted a winning five-year growth rate of 10,477%. The Southampton-based company was launched in 2008 by co-founders Tom Barnett, Joanne Spector and Julian Spector. Inspired by high-frequency trading technology in the financial markets, Switch set out with the intention of using pioneering technology and data analysis to bring brands and consumers closer together.
Tom Barnett, co-founder of Switch Concepts, said: “Being named the overall winner of Deloitte’s Fast 50 last year was a fantastic achievement and a testament to the hard work and success of our team. Since our win, Switch has continued to grow, developing innovative technology in the adtech space.
Optimistic about the future of the UK’s technology market, Barnett added: “Our view is that if you have a good idea, then you should run with it as fast as you can. We pride ourselves in not being scared of trying new things - we didn’t get to where we are by copying what others have done before.”
For full details and the entry form please visit: www.fast50.co.uk
Deloitte UK Technology Fast 50
The Deloitte UK Technology Fast 50 is one of the UK’s foremost technology award programmes. Now going into its eighteenth successful year, it is a ranking of the country’s 50 fastest-growing technology companies, based on revenue growth over the last four years. The UK Fast 50 awards are all about growth driven by leading intellectual property and are a celebration of innovation and entrepreneurship. The UK Technology Fast 50 is part of an international programme run by Deloitte, qualifying entrants of the UK Fast 50 will be put forward to the Deloitte Technology Fast 500 EMEA (Europe, Middle East and Africa) programme. Previous winners have come from across the UK, are both large and small, and included some of the most dynamic players in all areas of technology, from internet specialists to biotech, digital media technology to life sciences, computers to semiconductors and software to telecommunications.
For more information visit www.fast50.co.uk
Deloitte UK Technology Fast 50 eligibility criteria
The company must have been in business for a minimum of four years;
The company must be considered a technology company, which is defined as:
- Developing or owning proprietary technology that contributes to a significant portion of the company's operating revenues;
- Producing technology;
- Manufacturing technology-related products;
- Be technology intensive, or use unique technology to solve problems;
- Devoting a high percentage of effort to technology R&D;
(NB: Using another company’s technology or intellectual property in a unique way does not qualify.)
The parent company must be UK-owned and have its headquarters in the UK; (NB: Subsidiaries of UK or multinational organisations do not qualify.)
Operating revenues must be at least £44,000 (€50,000) for the first financial year of the four year period and £806,000 (€1,000,000) for the most recent financial year; (NB: The accounts for year four should have an accounting period ending between 1 June 2014 and 31 May 2015.)
All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition. Unless a statutory exemption is being taken, these accounts must be unabbreviated and audited.
If you have any further questions regarding whether your company qualifies, please contact fast50@deloitte.co.uk
About Taylor Wessing
Taylor Wessing is a full-service international law firm, with more than 1,200 lawyers in 26 offices worldwide, working with clients in the world’s most dynamic industries. We take a single-minded approach to advising our clients, helping them succeed by thinking innovatively about their business issues.
Our focus on the industries of tomorrow has enabled us to develop market-leading expertise in Technology, Media and Communications; Life Sciences; Private Wealth and Energy. At Taylor Wessing we are proud of our reputation as a forward-thinking firm.
Taylor Wessing was named Law Firm of the Year at The Lawyer Awards in 2013 - and has been shortlisted for the award four times since 2010.
For more information, please visit www.taylorwessing.com/tmc and follow @TWTechCity and @TWMediaTech.
About Fidelity Growth Partners Europe (FGPE)
Fidelity Growth Partners Europe (FGPE) is a venture and growth capital firm that invests in bold technology entrepreneurs with aspirations to build great businesses. FGPE is part of a global network of funds backed by Fidelity's proprietary, long-term capital with a 40-year heritage of venture investing. Combining a collaborative approach with a deep global network, Fidelity has backed global winners from Atari and Nuance in the US to Alibaba and Wuxi Pharma Tech in Asia. FGPE's track record in Europe includes investments in market leaders such as Curam (IBM), Newbay (RIM), GoodData, InnoGames, Wahanda (Recruit) and Notonthehighstreet. For more information visit www.fgpe.com
About Silicon Valley Bank UK
For more than 30 years, Silicon Valley Bank has helped innovators and their investors move bold ideas forward, fast. Today, we provide a full range of banking and financing services to businesses of all sizes in innovation centres around the world. SVB Financial Group, the parent company of Silicon Valley Bank, has had a presence in the UK since 2004. The bank is committed to supporting disruptive technology and life science businesses within the UK’s vibrant innovation sector, including The Foundry, Made.com and ECI Partners. Learn more at svb.com/uk
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.
Member of Deloitte Touche Tohmatsu Limited
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