SAP Africa has demonstrated its commitment to supporting small and medium technology businesses of the future by partnering with Deloitte in its Fast50 Africa Programme – a programme of recognition and acknowledgement for companies that have achieved the fastest rates of revenue growth in Africa over the past five years.
Technology Fast50 Africa is the latest edition to Technology Fast500 EMEA, now in its 13th year and part of the umbrella Deloitte Technology Fast 500 Awards created in 1997 during the dotcom boom to highlight the success of growing technology companies in the United States.
The Fast 500 programme now covers North America; Asia Pacific; as well as Europe, Middle East and Africa (EMEA), and seeks to reward companies that have demonstrated strategic vision, knowledge of customer needs and solid management backed by state-of-the-art business strategies and best practices.
To enter, the rising star businesses must have their headquarters on the African continent and have been operational for a minimum of five years. These businesses must be run and majority-owned by African citizens, have base operating revenues of at least US$ 70,000 and operating revenues of at least $500 000 for the current year.
They must also demonstrate consistent business growth – no insignificant challenge when viewed against the backdrop of the current economic turbulence and instability.
Companies, both private and public, and within any technology industry segment are eligible. The categories are broad and include:
* Biotech/pharmaceutical and medical equipment;
* Telecommunications/networking and Internet;
* Computers and peripherals;
* Semiconductors/components/electronics;
* Media and entertainment;
* Software; and
* Green technology.
The company must use global or local technology to build an innovative and sustainable technology business, have developed or own proprietary technology that accounts for a sizeable portion of its operating revenues or manufacture a technology related product. Companies that devote a significant effort to the research and development of technology are also included.
Desmond Nair, head: Ecosystem & Channel at SAP Africa, says, “This initiative is important to SAP Africa because it is a celebration of innovation and entrepreneurship in technology that recognises Africa’s rising technological companies. Furthermore, winners of Fast50 Africa will automatically enter the prestigious Deloitte Technology Fast500 EMEA, which ranks the fastest growing technology companies in Europe, the Middle East and Africa.
“This is a very elite club of industry sector peers and regional winners.”
“Part of SAP Africa’s contribution will be to provide mentorship, workshops, eLearning and time with SAP executives for the top five winners: an opportunity to fast track deserving recipients and an opportunity for cross-pollination.
“It will give participants a platform to showcase their achievements and receive high level local and regional publicity. As a company, we are obviously delighted to be associated with these winning business owners – it is a real investment in Africa’s development and technology for the future,” he concludes.