Deloitte is now launching the annual ‘Technology Fast 50 Central Europe’ competition. The prestigious regional competition for fast growing companies in the technology sector is now in its 19th year. It provides both established and emerging technology companies the platform to showcase their leading position in the tech industry.

For almost 20 years Deloitte has run the programme in the following Central European countries: Lithuania, Estonia, Latvia, Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Kosovo, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia.

So far 2017 has been the most successful year for Lithuanian companies – for the first time in the project history, 6 Lithuanian representatives have entered Deloitte Fast 50 ranking: Deeper, UAB (2^nd position), Good One, UAB (8^th position), INVENIS, UAB (11^th position), TV Games, UAB (13^rd position), ADEO WEB, UAB (33^rd position) and TeleSoftas, UAB (50^th position). Furthermore, CGTrader, UAB won Rising Stars category and the third place in the Big Five category was taken by Pigu, UAB.

More about the ‘Technology Fast 50 Central Europe’

The Deloitte ‘Technology Fast 50 Central Europe’ is a Programme that ranks 50 fast growing technology companies, public or private, based on percentage revenue growth over four years and includes all related industry sectors – communications, environmental technology, fintech, hardware, healthcare and life sciences, media and entertainment, software. For the 2018 ranking, revenues from 2014 to 2017 will be analysed.

Competition details

The competition has 3 categories and two awards – the ‘Most Disruptive Innovation’ award and the Social Innovation award.

Fast 50 – Central Europe

Eligibility for the main Fast 50 ranking requires fulfilment of the following criteria:

• Annual revenues of at least €50,000 in 2014, 2015 and 2016 and €100,000 in 2017;
• Has its operational headquarters in a Central European country (Albania, Bulgaria, Bosnia & Herzegovina, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia or Slovenia);
• Develops or manufactures proprietary technologies or spends a significant amount of capital on research & development;
• Has an ownership structure that excludes majority-owned subsidiaries of strategic entities.

Please note that in order to qualify for the Deloitte Technology Fast 500 EMEA, a company needs to have base-year operating revenues of €50,000 (2014) and a current year (2017) operating revenue of at least €1,000,000 (CE requirements are €100,000 in 2017). 

Rising Stars – Central Europe

In the ‘Rising Stars’ category, Deloitte ranks ‘young’ companies that show great potential but are too young to meet the minimum criteria of four years in operation for the main category. Eligible companies of this category must be in operation for at least three years and have to exceed revenues of €30,000 in each of the last three years (2015 – 2017).  Apart from this exception, all other criteria applies as for the main Fast 50 ranking.

Big 5 – Central Europe

The ‘Big 5’ category ranks large fast-growing companies that have achieved extraordinary growth in the previous four years. To be eligible for this category, companies must meet the same criteria as the main Fast 50 ranking with the exception of annual revenue in the final measured year (2017), which must exceed €25 million.

Most Disruptive Innovation Award – Central Europe

The ‘Most Disruptive Innovation’ award recognises companies that develop a unique and innovative product or provides services that have a revolutionary impact on the market. The winner or winners will be selected based on an assessment by an independent jury.

Social Innovation Award – Central Europe

The newest addition to the Programme is a special award for ‘Social Impact’ (SI). It recognizes a company which successfully links digital products/services with a positive impact on society and/or the environment. The winner or winners will be selected based on an assessment by an independent jury.

Why else should you apply?

The impact of the Fast 50 programme extends far beyond Central Europe. All participating companies that meet the programme’s criteria (not only those that make the top 50) also have the opportunity to be recognised in our Europe, Middle East and Africa (EMEA) Fast 500 ranking. Alongside Deloitte’s US and Asia Pacific Fast 500 initiatives, this will bring them local, national, international, and social media exposure.

Application details

The online application and eligibility criteria can be found on the regional Technology Fast 50 website: www.deloitte.com/cefast50. Eligible applicants will be automatically entered into the Deloitte EMEA Technology Fast 500 competition.

The application process will close on 31 July 2018. The ranking results will be announced in October 2018.

Historical winners are available here: www.deloitte.com/cefast50.