Last year, BidPal and Exacq Technologies were the tech firms topping the list of the Indianapolis Business Journal's annual "Fastest Growing Companies" list (numbers two and nine respectively). There were a handful of other tech and tech-enabled companies on the list, but there could have been more.
To be in the running, companies must have 12 months of revenue from 2011 and it must be north of $1 million, so startups aren't eligible, but I can think of dozens of emerging and established technology companies who would be fierce competitors in any head-to-head growth competition. I think the sticking point for many privately-held firms is that you are required to provide three years of revenue numbers that are published in the IBJ, and many companies have policies against sharing this information publicly.
Earlier in my career working for a privately-held, family-owned company, the CEO repeatedly refused to release this information because it allowed him to portray the company "as big or as small as needed" depending on the situation. While this may have occasionally served as an advantage during negotiations, it stymied numerous opportunities for brand building and awareness like the IBJ's Fastest Growing Companies list, and national exposure opportunities like Inc. magazine's 500/5000 lists and others.
Of course, there are good reasons for keeping private information private, and these annual lists aren't automatically a good fit for everyone, but it's worth taking a look at the nomination form and discussing the pros and cons of participating. Wouldn't it be spectacular if all 25 of IBJ's Fastest Growing Companies for 2013 are tech companies? Nominations are due this Friday, April 18, and the form appears to be very easy to fill out assuming you have ready access to revenue and employment numbers.
Who is eligible?
Privately held companies with 2011 revenue exceeding $1 million while also experiencing revenue growth over a three-year period.
Who are we looking for?
- Revenue increases each year from FY 2011 through FY 2013
- Revenue over $1 million in FY 2011
- FY 2011 revenue must represent a 12-month year; company must be founded prior to FY 2011
- Independent privately held for-profit corporation, proprietorship or partnership through December 31, 2013. (not a subsidiary or division of a parent company)
- Based in the Indianapolis area (Marion County, contiguous counties or Madison County)
What is the deadline?
April 18, 2014
How do I submit a nomination?
Complete and submit the online nomination form.
When does the special feature publish?
The top 25 companies will be ranked and the top 10 profiled in the June 23, 2014 issue of IBJ. Read last year's top 10 profile including BidPal and Exacq Technologies.