For the second year running the fastest growing industry segment in the Deloitte Technology 50 was internet based companies, with 34% of the companies from this sector. The success of these companies reflects the growing market appetite for internet and broadband services.

This year the winner of the Australian program was Unwired with a growth rate of 6,846%, which was the second highest growth rate ever recorded since the program began in 2001.

Minister for Communications, Information Technology and the Arts, the Hon. Senator Coonan, today announced the 2006 Deloitte Technology Fast 50 Australia winner was Unwired Group Limited, which achieved a growth rate of 6,846% over three years.

Senator Coonan said the Deloitte Fast 50 results were the strongest ever recorded and reflected the resurgence of the Australian technology industry as leaders in the Asia Pacific region.

“This year companies ranked in the Fast 50 recorded a minimum growth level of 132%,” Senator Coonan said.

Deloitte Technology Media and Telecommunications (TMT) Partner, Julia Bickerstaff, said the results this year were so strong, that the top 70 Australian companies would be included in the ranking of the Deloitte 500 fastest growing companies in the Asia Pacific region this year.

“The top five companies in 2006 would have headed the Australian list in each of the past five years, with the exception of 2004, when Bill Express topped the ranking in Asia Pacific with over 54,000% growth.

“Unwired’s winning growth rate of 6,846% was the second highest growth rate ever recorded since the program began in 2001,” Ms Bickerstaff said.

“The success of these companies reflects the growing market appetite for internet and broadband services.

“However, the successful new breed of technology companies have learnt from the ‘tech wreck’ and put in place solid business models with steady incremental growth targets that were more cash flow positive and therefore, more profitable,” Ms Bickerstaff said.

Led by CEO David Spence, Unwired made its debut in the Fast 50 this year. Unwired is a Sydney based public company dedicated to building a nationwide, wireless telecommunications network offering carrier grade internet services and voice services.

Also based in Sydney is the runner-up company, Mirror Image Access (Australia) Pty Limited (MIA) which enjoyed growth of 6,627%.

“MIA is a global provider of mobile technology and content services, bridging the gap between your mobile device and music, entertainment and media.

“Two stalwarts of the Australian technology industry, Seek and Hitwise, also deserve an honourable mention this year, as they both marked five consecutive years of fast growth to again feature in this year’s Fast 50,” Ms Bickerstaff said.

As part of the Deloitte Fast 50 program, participating CEOs were surveyed about what they considered to be the future challenges for innovative technology companies to sustain a competitive advantage.

Deloitte TMT Corporate Finance Partner, Damien Tampling, said many CEOs surveyed identified capital raising as key to sustaining success and growth.

“Within this sector in particular, many are starting to look for not simply capital, but investors and strategic partnerships that also bring other capabilities to the table such as technology know how, media distribution or in some cases relevant licenses,” Mr Tampling said.

“However, most CEOs believe the real challenge for fast growing companies is to maintain back-office stability and efficiency, while ensuring they also maintain the benefits they have as a small organisation with close customer contact and in many cases, an extremely innovative, fast thinking and fast moving culture,” he said.

“As Australian companies continue to grow, they will also need to address the challenges posed by the emerging might of India and China and this is at the forefront of most CEOs minds as they think about expanding into overseas markets.

“Asia-Pacific is clearly the geographic market that the majority of the companies thought would provide the best opportunities, with North America, UK and Europe very close behind with 17%, 18% and 16% of companies wanting to grow into these areas respectively.

“However, proving one’s business model at home is critical,” Mr Tampling added.

• Vigil Systems, a Queensland-based company which has developed software to improve unsafe driving behaviour, and
• Viocorp International, a leading internet broadcasting company based in NSW specialising in the production and distribution of video and/or audio content directly to end users.

The winner of the Rising Star Award was presented by Deloitte Tech Fast 50 Awards’ online media partner ZDNet Australia.