Following the success of last year’s inaugural edition, Deloitte has confirmed it is running the next Middle East edition of its Technology FAST 50 program – with an expanded focus.
Since its inception in the United States in 1995, the Deloitte Technology FAST 50 program has grown into one of the most well-known competitions for technology-focused start-ups and scale-ups.
The program sheds light on the fastest growing technology companies in 50+ countries, with the initial regional edition focusing on players in four countries: Bahrain, Qatar, Saudi Arabia and the United Arab Emirates. The new 2022 edition however has been expanded to cover tech jewels in practically every country in the Middle East.
“The Middle East region is home to a large number of technology startups, led by innovative, entrepreneurial and dedicated regional talent that is striving to make an impact that matters,” said David Stark, a partner at Deloitte. “We believe the growth of the region’s technology ecosystem can play a huge part in the future economies of its different nations, and support the diversification of their revenue streams,” he added.
In its first edition, Deloitte lauded 11 tech companies for their growth and named 7 companies to its ‘companies to watch’ list. This year, two new awards have been introduced: the Rising Star accolade (for early-stage start-ups) and the ESG accolade (for players that demonstrate strong ESG focus).
To qualify, technology firms must be headquartered in the Middle East and have booked an annual revenue of at least $250,000 in 2021 (the threshold for the Rising Star category is $50,000).
Middle East winners will be announced at an invitation-only event early 2023.