Results show the fastest are slowing down.
Deloitte Canada announced the winners of its 15th annual Technology Fast 50 program. Vancouver-based Avigilon Corporation is at the top of the Technology Fast 50 ranking with a revenue growth rate of 29,917 percent over the past five years, although overall data from this year’s winners show a sharp decline in average growth from previous years.
The average growth rate of a Fast 50 company is 1,953 percent in 2012, which is down from over 5,000 percent in the last two years and the second lowest average growth rate in the last 12 years. In 2012, only 11 of the Fast 50 companies are publicly traded. This is also a new low that is down from about 70 percent in 2005.
Although growth slowed down, this year’s Fast 50 companies continue to invest and create jobs. R&D spending for all of the organizations on the list is more than $1.6 billion. They collectively employ more than 27,000 people.
The bulk of the Technology Fast 50 winners are in Ontario (30), followed by Québec (11) and British Columbia (6), with the balance of the winners coming from the Prairies (2) and Atlantic Canada (1).
Sitting in the Fast 50 top spot this year is Avigilon Corporation, a Vancouver-based company that designs and manufactures high-definition surveillance solutions. Founded in 2004, Avigilon went public during a difficult economy in late 2011. The company is a three-time Fast 50 winner and also the recipient of this year’s leadership award in the hardware category.
Second and third spots go to EcoSynthetix Inc. (25,327 percent), a Burlington-based renewable chemicals company and Real Matters (8,961 percent) a Markham-based property solutions manager. Rounding out the top five are Hamilton-based VIZIYA Corp. (3,816 percent) and Toronto-based NexJ Systems Inc. (3,153 percent).
Also noteworthy, Impact Mobile and ViXS have ranked as Fast 50 companies for the sixth year in a row. Vision Critical and Solium have both placed on the Fast 50 list five times. Kitchener-Waterloo-based Research In Motion, a consistent winner since the beginning of the program 15 years ago, has ranked again in 2012.
Technology Fast 50 program sponsors include Deloitte, Gowlings, Wellington Financial, TMX, HUB International HKMB, CVCA, NACO, MaRS, IGLOO Software.