Dallas has long been considered an innovative city at the forefront of business. Today is no different. Therefore, it’s no surprise that more professionals want to participate in its explosive growth, as evidenced by the influx of people moving to the Dallas area. In 2021, the Dallas area grew by more than 97,000 residents, the most of any metropolitan area. Most of this growth comes from relocation, particularly from California and Silicon Valley, pushing the Dallas area’s population to 7.7 million.1
Warm weather, affordability, low taxes, and an emphasis on work flexibility as more companies offer remote positions are all contributing factors to this demographic boom. Dallas’ booming tech scene is also a factor. 1 As Dallas adds more tech companies and expands existing tech giants, it has become well known as a vibrant and thriving center of innovation. The pace of opening accelerators, incubators, and enablers in the Dallas area is increasing dramatically, with 64 coworking spaces, 40 accelerators and incubators, and 24 business innovation centers in the region. To the delight of long-time Dallasites and newcomers alike, the region has become an exhilarating melting pot of successful cross-industry businesses, eclectic cultures, diverse talents, significant wealth, and an arts and philanthropic scene in booming.
With one of the largest economies in the nation, the Dallas-Fort Worth area continues to innovate to attract top talent, businesses and investors to the region. According to the Dallas Regional Chamber1, the Dallas area is home to 3 Fortune 15 companies, 22 Fortune 500 companies, 43 Fortune 1000 companies and 185 Inc. 5000 companies with commerce, transportation and utilities; professional and business services; and public administration industries leading the pack.1
For the past 28 years, Deloitte has recognized innovative companies through its Technology Fast 500 program, an annual ranking of public and private growth technology, life sciences, fintech and energy technology companies. fastest based on three-year revenue growth percentage. Rankings are compiled from nominations submitted directly to the Technology Fast 500 website and public company database research conducted by Deloitte Services LP.
It’s all about technology, and for the most part, every successful business has or includes technology to scale their business and adapt. In this year’s program, companies whose vision goes beyond the technology, media and telecommunications sectors can be considered, provided that they come to market with technological solutions. “Each year, the Deloitte Fast 500 recognizes innovative companies in the North Texas business community, highlighting their growth achievements,” said Dan Berner, North Texas Managing Partner, Deloitte LLP. “I look forward to seeing the diversity of innovative approaches this year’s North Texas nominees will bring to the table.” And, over the past 10 years, there have been more than 300 IPOs of Fast 500 winning companies.
Last year, Texas had 26 winners on the Fast 500 list. Without a doubt, recognition is a business boost. The CEO of a 2021 Fast 500 winner says, “The Fast 500 has had an immense impact on our brand awareness. This has helped on several fronts, including recruiting, raising capital, bringing in new customers, and improving employee morale. Two five-time Fast 500 winners noted, “Fast 500 took us from a scrappy startup to an industry leader” and another said it “strengthened our brand and solidified our reputation as a worthy company.” capable of producing results”.
Are you a candidate for this year’s Fast 500 recognition? See the eligibility criteria:
- In business for at least four years
- Headquarters in North America
- Fiscal year 2018 operating revenue of at least US$50,000 and fiscal year 2021 operating revenue of at least US$5 million with a growth rate of 75% or more
- Own proprietary intellectual property or proprietary technology, which is to be sold to customers in products or services that contribute the majority of the company’s operating revenue
- Belong to one of the following industry categories:
- Digital Content/Media/Entertainment
- Energy and sustainability technology
- Computer hardware and semiconductors (including electronic devices)
- Life sciences (includes biotechnology/pharmaceutical | medical devices | health technologies sub-sectors)
- Software and Services (includes Consumer Software | Digital Platforms | Education | Enterprise Infrastructure & Productivity | Security subsectors)
Name the Dallas-Fort Worth-based companies you think are taking innovation to the next level through June 24.
The winners of the 2022 Deloitte Technology Fast 500 will be announced on November 15, 2022 at national and regional celebrations. Texas will host its own winners celebration after the national event. For more information on the program, visit the Technology Fast 500 website here.
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