France is once again this year the country with the highest representation in the latest list of fastest-growing tech sector firms in Europe, Middle East and Africa. However, with three companies among the top ten growth-achieving startups, Israel’s ‘Silicon Wadi’ is also showing tremendous consistency.
French digital cinema specialist YMAGIS has achieved a staggering 59,096% revenue growth in the last five years. This exponential rise in turnover has pushed the startup to the number one spot in the Technology Fast 500 2013 rankings for Europe, Middle East & Africa drawn up by the Technologies, Media and Telecommunications Industries team at ‘top four’ professional services firm Deloitte. This follows the feat of Paris-based ‘personalised retargeting company’ Criteo in coming top in 2012. The companies appearing in these rankings are of course focusing on new markets with expanding opportunities, but this fact should take nothing away from their excellent results or the undoubted success of their business models over the five-year period taken into account. France dominates the list, with a strong presence from Israeli companies in the top ten.
‘Silicon Wadi’ shines
France impresses with two companies among the leading seven fastest-growing firms. However, Israel boasts no fewer than three in the top ten. MyThings, a startup specialising in customised programmatic ad solutions, features in second place with a growth rate of 23,205% over five years. Endpoint cybercrime prevention specialist Trusteer is fifth with a turnover increase of 11,240%, and MyHeritage, a site for sharing family trees and photos which has achieved revenue growth of 9,041% over the period, is placed tenth on the Deloitte EMEA list. Overall, France has for the fourth year running the largest number of ‘winning submissions’ ranked by Deloitte, with 86 firms on the list. Meanwhile Israel continues to show admirably consistent diversity in the sectors analysed. Another interesting observation is that Turkey seems to be developing a dynamic telecommunications environment: two Turkish companies working in this field feature in the top ten this year.
Software leads the way
Among the various tech sectors analysed, software appears to offer the greatest number of opportunities. Some 43% of the companies in the Technology Fast 500 ranking this year are software firms. The Internet, at 22%, and telecommunications, at 15%, are the other most-represented sectors in the Deloitte rankings. The other areas – semi-conductors / components / electronics (7%); biotech / pharmaceutical / medical equipment (5%); green technology (3%); media / entertainment (3%); and computers / peripherals (2%) – together only account for a fifth of the total pie.