Deloitte has launched its Technology Fast 50 program in four markets in the Middle East, and the winners of the inaugural edition of the competition will be announced next November.
The world’s largest accounting and consulting firm launched its Technology Fast 50 program in 1995 in the United States, and over the past twenty-five years the program has expanded to include editions in Europe, in Asia, Australia and Canada, among others, helping programs build a reputation as one of the world’s leading technology competitions for technology scale-ups.
Now also active in Bahrain, Qatar, Saudi Arabia and the United Arab Emirates, Deloitte’s Technology Fast 50 program ranks the 50 fastest growing technology companies in a country, based on a growth percentage of income over four years. To qualify for competition in these countries, start-ups and scale-ups are expected to have generated revenues of over $ 250,000 in 2020.
According to Kyriacos Charalambides, leader of Deloitte Private’s high-growth segment in the Middle East, the objectives of the competition are twofold. On the one hand, “the Deloitte Technology Fast 50 program aims to highlight the depth and scope of innovation in our region”.
Second, Deloitte aims to elevate the broader ecosystem of tech start-ups in the four countries to the next level, by facilitating meaningful connections between start-ups, investors and businesses. “The program offers participants a platform to highlight their leadership position in a technological field, and financial / strategic investors the opportunity to meet companies which, in the long term, will help to form the future economic base of development. from our region.
David Stark, Private Leader of Deloitte in the Middle East, added: “The long-standing success of the program in various geographies has enabled emerging growth companies that have been recognized as Technology Fast 50 winners to gain visibility, brand recognition, networking and more. growth opportunities. “
The application process for the four Middle Eastern countries kicked off last week, with the call for entries closing at the end of this month. The winners will be announced in November 2021. The top performers will have the opportunity to compete in the Fast 500 Europe, Middle East and Africa (EMEA) ranking.