From the Classroom to the Boardroom: A Myth?
Survey Challenges Popular Image Of High-Tech Leaders

Deloitte & Touche Announces Contenders for 2000 Canadian Technology Fast 50

TORONTO, August 16, 2000 — Canada’s fastest growing technology companies are helmed by industry veterans, despite the popular image of young adults coming straight out of school and into the foreground of high-tech culture, according to the Deloitte & Touche Canadian Technology Fast 50 survey.  The survey findings were announced in conjunction with the release of the alphabetical list of the 2000 Canadian Technology Fast 50.

According to the study, all the CEO’s of this years Canadian Technology Fast 50 companies are male with more than half (52 percent) between 40 and 49 years of age. Another 22 percent are between 50 and 59 years of age. The study also shows that industry experience of CEOs among Fast 50 companies stands at a mean of 18.2 years with the large majority (69 percent) having 16-plus years experience.

“Although we often hear the success stories about fresh-faced entrepreneurs striking gold on the high-tech landscape, the Deloitte & Touche survey shows that more than half of Canada’s fastest growing technology companies are being led by CEO’s with a wealth of experience in the industry.” says Garry Foster, National Director, High Technology and Telecom, Deloitte & Touche.

The study also shows that although 38 percent of Fast 50 winners indicate that finding and hiring qualified employees is the most significant challenge they face, only three per cent believe that retaining skilled workers is the greatest obstacle they must overcome.

“The fact that Fast 50 companies provide employees with challenges, significant benefits, unique retention initiatives and opportunities for growth and forward movement means workers are committing to companies they believe are sustainable and provide quality products or services,” says Foster.

The study further shows that one-third of the 2000 Canadian Technology Fast 50 companies anticipate their future growth will result from new product development.  Currently, one in every three employees working at these companies are employed in an R&D capacity.

The Deloitte & Touche Canadian Technology Fast 50 recognizes the importance of Canadian technology companies and profiles Canada's industry leaders helping them to get the attention and support they deserve at home and abroad. The annual program ranks the 50 fastest-growing technology companies based on the highest rates of revenue growth during the last five years. The final ranking of the 2000 Canadian Technology Fast 50 winners will be revealed at a gala event on September 27, 2000.

For the first time, the 2000 program includes a new category called “Shooting Stars” recognising technology companies that are experiencing rapid growth but have not been in business long enough to be eligible for the Canadian Technology Fast 50.  In addition, all Canadian Technology Fast 50 submissions this year are automatically eligible for the Technology Fast 500, that will rank the fastest growing technology companies both in the U.S. and Canada for the first time.

Deloitte & Touche is one of Canada’s leading business advisors to the high tech industry with clients ranging from start-ups to world class organizations. The Deloitte & Touche High Technology practice works with companies involved with the business of software and multimedia, telecommunications, computers and peripherals, semiconductors and semiconductor equipment, and life sciences.

Deloitte & Touche is a leading Canadian professional services firm providing a full range of accounting, auditing, tax and management consulting services, with more than 5,000 people in offices in 50 cities across the country. The firm's multifunctional professionals bring their expertise to developing effective business solutions to more than 55,000 clients in all sectors of the Canadian economy.

We are a firm of choice – our mission is to help our clients and our people excel.

For more information:
 

Lynn Cook Media Relations Deloitte & Touche (416) 874-3654 or 1-877-381-9611

James Marshall Cohn & Wolfe (416) 924-5700