Deloitte's 2012 Technology Fast 50: Ontario Dominance and RIM's Surprising Acension

by Dan Verhaeghe | Technology

Today, the fifteenth annual rankings of the Deloitte Technology Fast 50 were released. The growth rates, which determine rankings, are based on a five-year period.

One of the surprises is Research In Motion, which still ranks 16th with 555% growth over the last five years. That's actually up from 29th last year, where it grew 634% in a five-year period that dated back to 2006.

Vancouver’s Avigilion Corporation has leaped into the number one position from third last year. It is their third Fast 50 placing. ViXS and Impact Mobile have made the list for the sixth straight year. Solium and Vision Critical have now made the list five times since 1998. Given that RIM has risen despite growth slowing over a five-year period, the list is interestingly different than last year’s.

Deloitte points out that growth has indeed slowed down for the fastest growing companies, but that they continue to invest and create jobs. R&D spending for these organizations is more than $1.6 billion total, and they employ more than 27,000 people.

The company points out that the conservative nature of Canadians is holding us back. A lack of entrepreneurship and risk tolerance are the major concerns. Almost 80% of survey respondents said that Canadians need to be stronger in both areas, up from just 56% last year. Those results would point to the fact that this is an increasingly creative economy, where the jobs are not always going to be there. Employees need to find creative ways to make money. We must attempt to become more entrepreneurial minded inside both the companies we work for, and the ones we are considering to start.

“There is a cyclical change in the technology sector. Growth in more mature companies is slowing down, but we see a lot of activity at the early stage,” said Duncan Stewart, Director of TMT Research for Deloitte. “That activity is a positive indicator of the future health of the sector and shows that starting a business is an attractive career option for many people. With limited capital many start-ups are operating in more efficient ways.”

Without further ado, here's the list:

1. Avigilon Corporation (Vancouver), 29,917% growth
2. EcoSynthetix (Burlington), 25,327% growth
3. Real Matters (Markham), 8,961% growth
4. VIZIYA Corp. (Hamilton), 3,816% growth
5. NexJ Systems (Toronto), 3,153% growth
6. Accedian Networks (Saint-Laurent), 2,743% growth
7. Dominion Voting Systems Corporation (Toronto), 2,430% growth
8. Acquisio (Brossard), 1,996% growth
9. Clevest Solutions (Richmond), 1,674% growth
10. BIOX Corporation (Oakville), 1,601% growth
11. Solace Systems (Kanata), 1,512% growth
12. GeoDigital International (Hamilton), 1,079% growth
13. SherWeb (Sherbrooke), 1,076% growth
14. 5N Plus (Saint-Laurent), 717% growth
15. Securefact (Toronto), 694% growth
16. Research In Motion (Waterloo), 555% growth
17. iBwave Solutions (Saint-Laurent), 496% growth
18. Geotab (Oakville), 464% growth
18. CarProof (London), 464% growth
20. Global Relay (Vancouver), 442% growth
21. Averna (Montreal), 392% growth
22. Haivision Network Video (Montreal), 387% growth
23. Achievers (Toronto), 383% growth
24. GuestLogix (Toronto), 362% growth
25. Verafin (St. John’s), 358% growth
26. In Motion Technology (New Westminster), 341% growth
27. Obzerv (Quebec City), 336% growth
28. BTI Systems (Kanata), 334% growth
29. QuickPlay Media (Toronto), 327% growth
30. Complete Innovations (Markham), 325% growth
31. Vision Critical (Vancouver), 323% growth
32. Tantalus Systems (Burnaby), 312% growth
33. Pointstreak Sports Technologies (Thornhill), 310% growth
34. H2O Innovation (Quebec City), 308% growth
35. GEOTrac International (Calgary), 271% growth
36. Solium Capital (Calgary), 267% growth
37. Impact Mobile (Toronto), 260% growth
38. Epiphan Systems (Ottawa), 256% growth
39. Optelian (Ottawa), 251% growth
40. PointClickCare (Mississauga), 241% growth
41. Vantrix (Montreal), 239% growth
42. Vital Insights (Mississauga), 232% growth
43. KUBRA (Mississauga), 227% growth
43. Intelex Technologies (Toronto), 227% growth
45. ViXS Systems (Toronto), 224% growth
46. Boréalis (Magog), 219% growth
47. Constellation Software (Toronto), 218% growth
48. Cyberplex (Toronto), 215% growth
49. Doxim (Markham), 213% growth
50. Crawford Technologies (Toronto), 187% growth

As you can see, as shown in both the PwC Top Ten technology companies to watch, and CIX Top 20 lists, Ontario has dominated yet another list. That is in terms of the number of companies with great growth in the last five years with thirty. Quebec has eleven, British Columbia with six, Alberta with two, and Newfoundland with one. New Brunswick, Nova Scotia, Manitoba, Saskatchewan, Prince Edward Island, and the territories do not even make the list. Ironically, there are zero companies from this list that are on the other two announced in the past week.

Toronto, Ontario, Canada

Deloitte provides audit, tax, consulting and financial advisory services. Deloitte offre des services dans les domaines de la certification, de la fiscalité, de la consultation et des conseils financiers. more

NexJ Systems
Toronto, Ontario, Canada

NexJ is a leading provider of cloud-based software, delivering enterprise CRM solutions for the financial services, insurance, and healthcare industries. Our next-generation, people-centered software combines industry-specific functionality with information from multiple applications and data stores to provide comprehensive knowledge of the individual. NexJ was founded in 2003 by the former... more

London, Ontario, Canada

CarProof, a proudly Canadian company, was started in 2000 and has been growing rapidly ever since. We are a web-based Canadian vehicle information and insights company providing detailed real-time data on used vehicles from the U.S and Canada. Our vehicle history reports are the industry standard used by thousands of dealers, all of the major automotive manufacturers for their off-lease and/or... more

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Dan Verhaeghe

Dan Verhaeghe

Dan Verhaeghe focuses on marketing, mobile, major technology players, entertainment, and new media. Dan has a dozen years of online experience that dates back to the turn of the millennium where he dominated a now non-existent online RPG game for a couple of years at the age of 15. He would eventually become a Toronto Blue Jays blogger who earned his way into Toronto's CP24 studios six years... more

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