Technology Fast 50 & Rising Star
The eligibility criteria
Now in its 25th year, the Deloitte Technology Fast 50 Awards recognises the fastest-growing technology companies across the island of Ireland. The programme ranks technology companies based on revenue growth over the last four years. To be considered for the Technology Fast 50 ranking you need to fulfil all of the eligibility criteria set out below:
1) The company must have accounts covering a minimum of four years(i.e. four full twelve-month financial periods.
2) The company must be considered a technology company which for this purpose, is defined as a company that meets at least one of the following four criteria.
Owns proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues;
Manufactures a technology-related product;
Devotes a significant proportion of operating revenues to research and development of technology;
Is technology intensive, or use its own unique technology to solve problems.
NB: Companies using third-party technology or intellectual property in a unique way does not meet this definition. Consulting companies, professional services firms, resellers and others who don't rely on proprietary technologies to generate their revenue are not eligible.
3)The parent company must be Irish-owned and have its headquarters in Ireland. NB: Companies headquartered in Northern Ireland can take part in the Irish OR the UK programme, but need to choose one or the other and cannot enter both.
4) The company must not be a subsidiary of a larger group. NB: If there is more than one trading company in a group of companies, the application should reflect consolidated revenue for years 1 and 4 and not the revenue of a particular company within the group.
5)The company must have base-year (year 1) operating revenues of €50,000 (£43,000) and a current-year (year 4) operating revenue of at least €1,000,000 (£859,900). Operating revenue figures must be calculated consistently. Please disclose in your application any change in revenue recognition between the year 1 and year 4 accounts.
NB: the accounts for the base year must have an accounting period ending between 1 June 2020 and 31 May 2021, and the accounts for the most recent financial year must have an accounting period ending between 1 June 2023 and 31 May 2024.
- 5)The company must have base-year (year 1) operating revenues of €50,000 (£43,000) and a current-year (year 4) operating revenue of at least €1,000,000 (£859,900). Operating revenue figures must be calculated on a consistent basis. Please disclose in your application any change in revenue recognition between the year 1 and year 4 accounts. NB: the accounts for the base year must have an accounting period ending between 1 June 2020 and 31 May 2021, and the accounts for the most recent financial year must have an accounting period ending between 1 June 2023 and 31 May 2024.
6) All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition. Where accounts are not audited, a cover letter must be provided. This cover letter should be on company-headed paper, signed by a director of the company, stating and confirming the revenue figure per the accounts. Where only abbreviated accounts are available (with no profit and loss statement shown), please provide alternative financial information supporting the revenue figure presented, for example, management accounts used by the company, along with the cover letter described above.
Applicants who meet the Fast 50 programme criteria may also apply to enter these additional award categories:
- Growing New Technology Award in association with Google
This award will be presented to a company that has created or introduced a new or innovative product or service to international markets that has helped grow their business over the last four years.
- Impact Award in association with Meta
This award will be presented to a company that has made a significant impact within the current year.
- Advocate for Women in Technology Award in association with NetSuite
This award will be given to an individual who has demonstrated through their actions that they are an advocate for increasing participation by and promotion of women in the technology sector.
- Scale Up Award in association with Scale Ireland
This award is for a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.
- Financial Services Innovation Award in association with FSI
This award will recognise a fintech company with an innovative product or services that is having a disruptive impact within the financial services industry.
The Rising Star award in association with Enterprise Ireland
This separate award will recognise a company that has demonstrated a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award must have operating revenues accounting for a minimum of 2 years and less than 4 years.
To qualify for the Rising Star Award your company must meet the below criteria:
- In business for a minimum of 2 years and less than 4 years
- Current year operating revenue of at least €500,000 or £426,700 (current year is 2023/24 depending on the company’s financial year end)
- The parent company must be owned and headquartered in ROI or NI. Subsidiaries do not qualify
- Must be a technology company (produce technology), defined as:
Manufacturing tech related products;
Being technologically intensive or using technology in problem-solving;
Devoting a significant proportion of operating revenues to R&D of technology;
Owning proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues.
Apply for the Fast 50 awards programme here: Deloitte Fast 50 Programme (awardsplatform.com). If you have any further queries, please contact the team: iefast50@deloitte.ie.