PHILADELPHIA, Oct. 26 /PRNewswire/ -- Deloitte today released the 2010 Greater Philadelphia Fast 50, the 14th annual ranking of the fastest growing technology, life sciences and cleantech companies in the Greater Philadelphia region based on five-year revenue growth. An awards ceremony was held October 21st at the University City Science Center.
"We congratulate the 2010 Greater Philadelphia Fast 50 winners in the technology, life sciences and cleantech industries on this impressive achievement," said Tara L. Weiner, managing partner, Greater Philadelphia region, Deloitte LLP. "The continued growth and innovation from these companies are important to the economic growth and strength of the Greater Philadelphia economy."
Some of the findings from the 2010 Greater Philadelphia Fast 50 ranking:
- Average Growth Rate: The average growth rate of this year's recipients fell by 152 percent points to 302 percent in 2010 (down from 454 percent in 2009 and 773 percent in 2008). Overall, award winners for 2010 had five-year growth rates ranging from 46 percent to 5,764 percent (compared to 80 percent to 4,984 percent in 2009).
- Industry Breakdown: Of the winning companies, 62 percent are in the technology industry (which was the same percentage in 2009), 32 percent are in the life sciences industry (compared to 36 percent in 2009) and the remaining 6 percent are from the cleantech industry (compared to two percent in 2009).
- Types of Companies: Of the winning companies, 43 percent are software companies (40 percent of which are life sciences software companies). A total of 13 percent of the winning companies are biotechnology/pharmaceutical companies, while 10 percent are medical equipment companies and 10 percent are scientific/technical instrumentation businesses. Cleantech, communications/networking and internet companies each represent 6 percent of winning companies, respectively. Computers/peripherals comprise 4 percent of the companies and media and entertainment companies comprise 2 percent of the winning companies.
- Frequency of Winners: First-time recipients comprised 14 percent (18 percent of the 2009 winners) of 2010 Greater Philadelphia Fast 50 companies while 86 percent (82 percent in 2009) represented repeat winners.
- Public versus Private: Overall, there is nearly an equal mix of public companies (52 percent) and private companies (48 percent).
- Geographic Representation: From across the Greater Philadelphia region, 84 percent of the 2010 Greater Philadelphia winning companies are from Pennsylvania; 12 percent from New Jersey; and 4 percent from Delaware.
The full list of ranked companies as well as additional detail on the 2010 Greater Philadelphia Fast 50 program can be found at http://www.deloitte.com/us/phillyfast50.
The 2010 Greater Philadelphia Fast 50 program is presented by Deloitte and is sponsored by Fragomen, The Judge Group, UK Trade & Investment and Center City Film &Video/eCity Interactive. The program is supported by University City Science Center and The Cleantech Group.
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.