today, deloitte canada announced its winners 25th Annual Technology Fast 50 Event, as well as the Enterprise Fast 15, Clean Technology and Company-to-Watch awards. The program seeks to highlight the innovation and growth of Canadian tech companies, and has recognized over 1700 companies over the past 25 years.
“Despite the unpredictable economic and global climate, tech companies across the country are seizing new opportunities and meeting the demands of a rapidly evolving market. It is inspiring to see the accelerated innovations and many technological advancements that Canada is making establishes itself as a leader on the global stage, ”said Anders McKenzie, partner and national leader of the Technology Fast 50 program at Deloitte Canada.
However, attracting and retaining the right digital talent remains a primary challenge among Canada’s fastest growing tech companies. Deloitte’s annual survey of corporate executives ranked in the Technology Fast 50.
The survey also revealed that turbulent financial markets (18 percent), inflation (81 percent) and rising interest rates (64 percent) had either a moderate or severe impact on their businesses.
Emerging concerns of access to capital as well as changing preferences of consumers (13 per cent) are impacting businesses as well. While last year 78 per cent respondents said their access to capital was improving, this figure dropped to 47 per cent this year.
In addition, the winning companies are embracing the future of work, with one-third offering full-time work from home, and one-third offering flexible hybrid work models, according to survey responses from executives. The report also showed that 40 per cent of the companies have either reduced or eliminated their office space.
The executives of the Technology Fast 50 winners also boasted DEI (diversity, equity and inclusion) in their leadership roles. More than 20 percent say women make up more than 40 percent of their leadership, and 77 percent report having one or more board members representing a group seeking equity.
NobelA Toronto-based digital marketplace connecting home buyers and sellers with real estate agents topped this year’s Technology Fast 50 winners, with a three-year growth rate of 72,944 percent. The company is the first company in the award’s history to propel itself from the Company-to-Watch category to the Top Technology Fast 50 ranking in just one year.
Montreal based mobile application for travel markets hopper Earned first place in the Enterprise Fast 15 category, achieving 859 percent revenue growth over the past four years with its smooth mobile experience and B2B services.
Toronto based food products supplier Flash food Won the top position in the clean technology category. Flashfood sells food products close to their best before date at discounted prices. According to Deloitte, the company diverted more than 40 million pounds of food from landfills, saved shoppers more than C$100 million, and provided food for thousands of families.
With the highest revenue growth of 4,221 percent, Vancouver increase health Topped in the Company-to-Watch category. Through its interactive patient engagement platform, Thrive Health enables access to patient data, ad hoc allowing healthcare providers to design custom care workflows.
See the full list of companies in the Technology Fast 50 ranking Here,