2010 “Ready to Rocket” Report Card
Rocket Builders reports significant growth and employment among last year’s
2010 “Ready to Rocket” list of tech companies
VANCOUVER, BC – January 25, 2011
Each year, Rocket Builders releases a follow-up report card of the previous year’s “Ready to Rocket” list in conjunction with the announcement of the coming year’s list.
Despite last year’s challenging economy, the 2010 report card revealed better than average revenue gains, significant growth in new jobs, and a market focus on both the US and Western Europe.
“The average growth rate across 25 companies on our list was over 70%, with 5 companies more than doubling their 2009 revenue performance,” said Geoffrey Hansen, Managing Partner at Rocket Builders. “Equally impressive were the over 1,100 employees at these companies, and the 29% average headcount growth representing over 260 new jobs in BC that were created despite the slow economy.”
A significant factor in achieving the 70% growth rate was the fact that many of these companies are focused upon specific vertical markets.
“With many of the “Ready to Rocket” companies being vertically focused, we observe their growth rate to vary across industry focus,” said Reg Nordman, Managing Partner at Rocket Builders. “And despite the slow economic progress in the United States and Western Europe, many companies reported these regions offered the greatest sales growth.” According to research company Gartner, worldwide IT spending grew only 5.4% in 2010 and is forecast to grow at 5.1% in 2011.
Other key indicators in Rocket Builder’s 2010 report card:
• 40% of companies on the list secured $30M of new investment capital
• Many companies that did not receive investment are profitably operating
• One company, Bycast, was acquired by a US-based company
• Approximately 260 new jobs were created last year
Rocket Builders also announced today that this year’s predictive 2011 “Ready to Rocket” listing of companies is being expanded to three separate lists that are address specific tech sectors. The three sectors are: 1) Information and Communications Technology (ICT) that includes information, communications, wireless, new media and internet technologies, 2) CleanTech and 3) Life Sciences.
For details on the “Ready to Rocket” list please visit http://www.readytorocket.com