Technology Community 
November/December 1999 edition

Colorado Technology FAST 50 Winners Report Keys To Success

Fifty Colorado companies, recognized for their rate of growth from 1994 to 1998, received Colorado Technology FAST 50 awards from Deloitte & Touche at a spectacular luncheon in their honor on Oct. 7, 1999. Winning companies demonstrated growth rates based on increased revenue over 5 years, from the 142% increase achieved by Research Systems, Inc. to the 44,070% increase posted by New Era of Networks, Inc. (NEON).

Colorado winners will be ranked against winners from other states to identify the 500 fastest growing technology companies in the nation. Companies in the top 500 will be invited to the second annual Technology Fast 500 CEO Summit to be held May 11-13, 2000, at the Ritz-Carlton in Amelia Island, Florida. Held in association with Forbes ASAP, the Summit will focus on the unique business issues facing CEOs of high-growth technology companies.

Of the 50 Colorado firms, 32 were repeat winners, whose high growth placed them in the top 50 last year as well. Of the winning firms, 29 are public companies and 21 are privately held. The majority of winners (30) had less than $24 million in revenue in 1998. Seven firms had revenue between $25 and $49 million, two firms had revenue between $50 and $99 million, 10 placed in the $100 to $999 million category and one firm had more than $1,000 million in 1998 revenue.

Twenty-six percent of winning Colorado firms were based on software technology, 20% were in communications and networking, while 18% were in manufacturing.

A survey of the CEO's leading the top 50 firms identified the biggest challenge in managing company growth is currently finding and retaining qualified employees (31%), followed by maintaining focus and culture (24%), and raising capital, financing and cash flow (12%). On a scale of 1 to 10, keeping up with changing technology ranked 8, and highest among challenges facing companies. Hiring qualified employees ranked seventh in difficulty, and raising capital for growth rated fifth.

Eighteen percent of CEO's attributed their company growth up to this point to identifying the right market segment. Sixteen percent believe growth has depended upon a strong employee and management teams while an equal percentage feel that a quality product and intellectual property are the most important factors.

Thirty one percent of companies plan to achieve future growth primarily through increased market share, while 24% expect to benefit from overall growth in the market. Twenty nine percent will base future growth on new product development.

[For a list of Colorado FAST 50 winners, visit the website at www.fast50.com]

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