This November, Deloitte released their latest The Deloitte Technology Fast 500 list for technology companies based in the US and Canada. For the 18th year, Deloitte ranked the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. LED sector companies including those specializing in sapphire did well.
The Deloitte Technology Fast 500 is awarded to companies that demonstrate technological innovation, entrepreneurship and rapid growth. Fast 500 companies can be any size – large, small, public, and private – and span a variety of industry sectors including clean technology. The clean technology sector made up 7 percent of the companies on the list.
Tesla Motors, Inc. (NASDAQ: TSLA) clinched the overall top spot with fiscal year 2011 revenue of $204.24 million and a growth rate of 279,684 percent from 2007 to 2011. Tesla also topped the clean tech category, but there was another big trend inside the clean tech category itself. LED-related companies showed strength on the list including Rubicon Technology, Lighting Science Group Corporation, GT Advanced Technology, Cree, and Bridgelux.
Deloitte Technology Fast 500 award winners for 2012 were determined based on percentage fiscal year revenue growth from 2007 to 2011. In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues.