BPI on Deloitte Fast 50 list (CDN tech companies with highest revenue growth).
ottawacitizen.com
Thursday 17 August 2000
Older males, not whiz kids, head
top high-techs
Ottawa firms don't make list of 50
fastest-growing firms
Joan Walters
The Ottawa Citizen
TORONTO -- Older males are overwhelmingly the chief executives of
Canada's fastest- growing high-tech companies, despite a popular notion
that whiz kids are increasingly at the new economy's helm.
"Although we often hear success stories about fresh-faced entrepreneurs
striking gold on the high-tech landscape, more than half of Canada's fastest
growing tech companies are led by CEOs with a wealth of experience," said
a survey released yesterday by Deloitte and Touche.
In fact, three-quarters of the firms on the consulting company's Fast 50 list of
Canadian technology companies are led by industry veterans between 40
and 60, with an average of 16 years' experience, not by a generation of
young turks.
And there were other surprises in the annual survey, including the absence of
a single entry from Ottawa, long regarded as a booming Silicon Valley
North.
Instead, strong tech growth in Alberta, British Columbia and other parts of
Canada has spawned hot new firms to compete with Ottawa standouts from
previous years, including Entrust Technologies, Cross-Keys Systems and
Chipworks in 1999.
"I believe the Ottawa situation is a statistical anomaly, based on how the
calculations of fast-growth are done," said Garry Foster, high technology
director for Deloitte, which has issued its Fast 50 list of up-and-comers for
the past three years.
"I'm up in Ottawa and talk to our people there daily and that market is
absolutely hot."
Nevertheless, Ottawa firms are now eclipsed by the likes of Big Picture
Technologies Inc. of Calgary, Stratford Internet Technologies of Vancouver,
and InfoInterActive of Bedford, N.S., described as growing so rapidly that
they are, literally, "shooting stars."
John Reid of the Canadian Advanced Technology Alliance, noted that
Ottawa's industry has a higher level of maturity than regions of Canada,
which are just beginning to thrive. "Once you've reached the size of a
Cognos or a Corel or other (Ottawa-based) companies of that type, it's hard
to maintain that fast a pace of growth."
The survey ranks the 50 Canadian tech firms with the highest revenue growth
over the past five years, rates which frequently top 6,000 and 7,000 per
cent. Contenders must have had 1995 revenues of $75,000 and 1999
revenues of at least $1 million.
The list was released in alphabetical order yesterday, pending final rankings
to be issued at a ceremony in September. The top-growing company in
1999 was Sierra Wireless Inc. of Richmond, B.C., followed by TUCOWS
Interactive Ltd. of Toronto.
The survey noted that the number of firms from western Canada was higher
this year, with B.C. representing 20 per cent of the list, up from 16 per cent
in 1999, and Alberta with eight per cent, compared with six per cent in
1999.
Quebec was also up slightly, with seven firms making up 14 per cent,
including the ever-evolving BCE Emergis Inc.
Ontario continued to benefit from the hot Waterloo-based companies
Research in Motion, Descartes Systems, and Open Text Corp. The
province accounted for 52 per cent of this year's list, down from 62 per cent
in 1999.
However, it was the generation gap that Deloitte chose to emphasize in its
survey commentary this year.
"All CEOs of this year's companies are male, with more than half (52 per
cent) between 40 and 49 years of age," the survey said. "Another 22 per
cent are between 50 and 59 years of age."
Mr. Reid and Mr. Foster both noted -- as did several CEOs -- that
shareholders today are more comfortable with the long-toothed older
executive in a fast-paced startup company.
"It doesn't surprise me that the CEO group is the 40-and-over talent," said
Mr. Reid. "That's the sort of individual you want running these enterprises --
with the networks, the experience, the track records."
In Calgary, 52-year-old Michael Anthony, chief executive of Big Picture
Technologies, notes that having an older senior executive is important to
"harness the exuberant and talented group of younger employees."
"Most of the people who work for me are in their 20s and 30s," Mr.
Anthony said.
"These people are unbelievably bright. But you also need someone who's
been around the block because we can recognize trends, see developments
and know the cycle."
Deloitte & Touche 2000 Canadian Technology Fast 50
01 Communique Laboratory Inc. * Mississauga, Ont. Software
Aastra Technologies Limited* Toronto Communications
Action Front Data Recovery Labs Inc. Toronto Data Recovery
Ad Opt Technologies Inc. Montreal Software
AimGlobal Technologies Company Inc. Delta, B.C. Computer/Peripherals
ALI Technologies Inc. ** Richmond, B.C. Software
Applied Terravision Systems Inc. ** Calgary Software
ARCMEDIA.COM Toronto Software
Atrion International Inc. * St. Laurent, Que. Software
B.C.E Emergis Inc. ** Montreal E-Commerce
Bridges.com Inc. Kelowna, B.C. Internet
Cangene Corporation * Winnipeg Biotechnology
COGNICASE Inc. ** Montreal Software
DataMirror Corporation Markham, Ont. Software
DataWave Systems Inc. Vancouver Communications
Descartes Systems Group * Waterloo, Ont. Software
DiscoverWare Inc. Calgary Software
Dundas Software Ltd. * Toronto Software
Emerging Information Systems Inc. Winnipeg Software
ExtendMedia Inc. Toronto Interactive Products
FinTech Services Ltd. * Calgary Software
FloNetwork Inc. Toronto Internet
FRED Systems Ltd. Waterloo, Ont. Software
Genesis Microchip Inc.** Thornhill, Ont. Semiconductors
Highlander Business Solutions Inc. Toronto Software
Image Processing Systems Inc. Markham, Ont. Manufacturing
Information Balance Inc. ** Toronto Software
Innova Technologies Corporation * Toronto Medical/Science
InSystems ** Markham, Ont. Software
Intrinsyc Software Inc. Vancouver Software
Janna Systems Inc. ** Toronto Software
Jewelstone Systems Inc. Toronto Software
Matrikon Edmonton Software
MDSI Mobile Data Solutions ** Richmond, B.C. Software
MediSolution Ltee ** Montreal Information Systems
Open Text Corporation Waterloo, Ont. Software
Pivotal Corporation * North Vancouver Software
PRIMA ** Ile-des-Soeurs, Que. Software
Research In Motion Limited ** Waterloo, Ont. Mobile Communi cations
Rise HealthWare Winnipeg Software
Royal Laser Tech Corporation * Etobicoke, Ont. Manufacturing
Selkirk Financial Technologies Inc. * Vancouver Software
Shop 9000 Sales Inc. * Toronto Software
Stratos Global Corp. Toronto Communications
Teranet Inc. Toronto Internet
Total Care Technologies Inc. ** Kelowna, B.C. Software
Triple G Systems Group Inc. * Markham, Ont. Software
Triversity Inc. Toronto Software
Wavesat Telecom Inc. St. Laurent, Que. Communications
Xantrex Technology Inc. Burnaby, B.C. Manufacturing
Deloitte & Touche 2000 Canadian Technology
Fast 50 'Shooting Stars"
Big Picture Technologies Calgary Software
DWL Incorporated Toronto Internet
InfoInterActive Inc. Bedford, N.S. Application Systems
Stratford Internet Technologies Inc. Vancouver Internet
Uniglobe.com Inc. Vancouver Internet
*Also on Deloitte & Touche 1999 Canadian Technology Fast 50 list
**Also on Deloitte & Touche 1999 Canadian Technology Fast 50 and
Deloitte & Touche 1998 Technology Fast 55 lists |
