With staggering growth in excess of 13,000 per cent, an Australian start-up has topped Deloitte’s list of the fastest growing tech companies in the APAC region — the first time Aussies have dominated in 15 years.
Sydney-based WithYouWithMe, a training and recruitment service for veterans and ex-military personnel, has today been named as the fastest growing tech business across the Asia-Pacific region, with its annual growth rate coming in at 13,361 per cent.
That figure dwarfed the still incredible average growth rate of 717 per cent across all 500 businesses to make the list. It also marks the first time that an Australian business has topped the rankings since 2014.
WithYouWithMe was joined on the list by plenty of other Aussie businesses: one-fifth of the entire top 500 list (98 businesses) call Australia home. That was well up on the 78 that made the cut in 2018.
Among them was fellow Sydney-based solar, battery and home improvements software business Brighte, which came in fourth spot after posting growth of 8,881 per cent.
Deloitte Australia partner Josh Tanchel said the result is proof that “Australian talent [is] punching well above its weight”.
“It’s also proof that when passion meets purpose, boundaries melt away and doors continue to open,” Mr Tanchel said.
“I’m thrilled to see an Australian company taking home first place in the Asia-Pacific Tech Fast 500.”
Fastest growth sectors
Of course, technology nowadays is employed by every industry. And some are posting more rapid growth than others.
According to Deloitte, life sciences is the fastest growth sector for tech-focused businesses across the APAC region, with average growth across those firms on the list of 1,080 per cent.
Other sectors delivering rapid returns are clean technologies, communications, life sciences, media as well as both hardware and software.
“These companies represent the exciting potential for success in the Asia-Pacific region,” said Deloitte’s private lead for Asia Pacific, Mike Horne.
“We are an extraordinarily diverse region, home to an equally diverse group of successful technology companies. Despite the differences in sectors, regions, products and services, the companies on this list are united by their resilience, creativity and dedication.”
Who are Australian businesses competing against?
Perhaps unsurprisingly, Chinese tech firms dominated the overall ranking, accounting for 140 of the top 500 spots. China also had six businesses among the top 10.
In addition to the two Australian businesses, the top 10 firms were rounded out by one each from the Chinese territory of Taiwan and India.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.