Avigilon No. 1 in Deloitte Fast 50
The Vancouver-based manufacturer of high definition surveillance solutions, which has won two previous such awards, ranked first with an annual growth rate of 29,917 per cent. Second on the list was EcoSynthetix Inc., a renewable chemicals company, with a growth rate of 25,327 per cent; third was Real Matters, a property solutions manager, with a growth rate of 8,961 per cent.
Overall, the average growth of companies is down from previous years, according to Deloitte. The average this year is 1,953 per cent, down from more than 5,000 per cent in the past two years.
“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, in a statement. “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.”
Avigilon, which went public in late 2011, also won Deloitte’s leadership award in the hardware category.