Deloitte Tech Fast 50 Finland Winners Announced
I participated in the Deloitte Technology Fast 50 Finland awards ceremony last night to see who the 50 fastest growing technology companies in Finland were. Before the awards ceremony though, there were two talks by Kaija Pöysti, the founder of Trantex, a translation company that grew to about 200 people before she sold it, and Petteri Koponen the co-founder of Jaiku and partner in Lifeline Ventures among many others.
Deloitte's Technology Fast 50 Registration Is Open
We've partnered with Deloitte this year to promote their Technology Fast 50 program here in Finland. Every year, Deloitte organises a competition to find and promote the fastest growing technology companies. In 2009, Finland's winner was Endero, who had grown 3277% over the last 5 years.
Analysis Into The Deloitte 50 List (Finland)
Last Friday I announced the fastest growing company in Finland according to Deloitte and I decided to dig a little more into these companies in terms of finances. So the breakdown is as follows: Company rank on the Deloitte list (2008), company name, growth percentage (from 2003 to 2007), turnover in 2007 (000's €), turnover in 2003 (000's €).
1. Futurice, 2885%, 3313, 111.
2. Openbit, 2521%, (not reported), 391.
3. Nomovok Oy, 2367%, 2319, 59.
4. Endero Oy, 1775%, 10029, 312.
5. Directa Oy, 1734%, (not reported), 166.
6. Heeros Systems Oy, 1566%, 1233, (not reported).
7. Vilant Systems Oy, 1238%, 1258, 94.
8. Bluegiga Technologies Oy, 1192%, 4340, 336.
9. Reaktor Innovations Oy, 1102%, 9255, 770.
10. Nebula Oy, 1016%, 9310, 848.
If you look at this list, the companies in general are still very small by international standards. Growing your company over a 5 year period from under a 100k to a few million should be on everyone's list and with a proper team executing it - very doable. I'm gonna get hammered here again, but I do believe that it's not that difficult up to a certain point. The real difficulty begins when you think of these companies growing from the 5-to-10 million revenues into 100-200 million revenues. How is that done? Now that's a bigger and tougher question.
I was unable to find any comparative figures for other Baltic countries nor the Nordics, but the first company from this geographical setting in the Central European list is Webmedia group from Estonia with a growth percentage of 770.
