One Alberta company has cracked the Top 10 of the Deloitte Canadian Technology Fast 50 list.

Calgary-based Chartwell Technology Inc. weighed in at sixth spot with revenue growth of 2,976 per cent. Established in 1998, Chartwell (TSX:CWH) develops and supplies Internet gaming and gambling software systems to the online and mobile gaming industry.

The annual Deloitte Canadian Technology Fast 50 recognizes Canada’s fastest-growing technology companies, both public and private, from all technology sectors. Rankings are based on the highest rates of revenue growth during the last five years (1999-2003).

In its debut on the Fast 50, Newfoundland-based Rutter Inc. stormed into first place with five-year revenue growth of 11,676 per cent.

Dave Olecko, Business Edge
Chartwell CEO Darold Parken displays a cellphone that incorporates Java-based software that allows game playing.

Other Alberta firms on the Fast 50 list, and their positions: 13. Glenbriar Technologies Inc., Calgary, 1,496 per cent 21. Wireless Matrix Corp., Calgary, 909 per cent 29. BioWare Corp., Edmonton, 655 per cent 31. Aria Solutions Inc., Calgary, 605 per cent 34. Replicon Inc., Calgary, 532 per cent 37. Zi Corp., Calgary, 490 per cent 38. Dynetek Industries Ltd., Calgary, 437 per cent 43. Isotechnika Inc., Edmonton, 390 per cent 45. Wi-LAN Inc., Calgary, 353 per cent 48. CSI Wireless, Calgary, 334 per cent The majority (60 per cent) of the Fast 50 winners confirmed that three-quarters of their revenues were generated outside Canada over the past year, while workforces doubled worldwide among privately owned Fast 50 companies and grew by 30 per cent among public companies.

These numbers are backed by the winners’ claims that the single greatest impact on sustaining growth is their companies’ ability to expand internationally, followed by the development of a strong marketing and sales strategy to successfully penetrate their international markets.

This year’s Fast 50 winners cite unique products and a good overall business strategy to be the largest contributors to their rapid growth over the last year while containment of administrative costs was considered the biggest business challenge.

Joint ventures – last year’s most dominant growth strategy (46 per cent) – have been abandoned completely by the Fast 50 winners as a future prospect for growth.

The Deloitte Canadian Technology Fast 50 finalists are automatically entered into the Deloitte Technology Fast 500, the annual ranking of North America’s fastest-growing technology companies to be announced later this year.

Web watch:
www.fast50.ca