Tech firms dominate Indiana’s ‘Companies to Watch’ awards
Lt. Governor Sue Ellspermann yesterday announced that 27 companies have earned a place in Indiana’s seventh annual class of ‘Companies to Watch’ program. Eleven of these fast-growing companies — that's 40.7 percent of the award winners — are tech firms specializing in software development, mobile apps, cloud computing, digital learning, health information technology, digital security, digital payment solutions and sales automation.
Eight of the 11 tech companies on this year's 'Companies to Watch' list are also TechPoint Mira Award nominees, four are Mira Award winners, and three took home the state's top tech honors in their categories on May 3, this year.
Last year, a respectable 24 percent of 'Companies to Watch' were tech companies, but the increase this year to almost half of the entire list is remarkable. I identified 11 tech firms among the 27 award winners, but did not include tech-enabled companies whose core businesses are not necessarily technology. For example, KA+A and Element Three are often considered part of the tech sector because their businesses are so heavily reliant upon technology. Both, however, were selected as 'Companies to Watch' for the growth of their marketing and branding operations, so I excluded them. I did the same with the seemingly obvious DuraMark Technologies (it has tech in its name, but the company's core business is product marking) and ecommerce site Peepers — using and even creating technology to do business is not really the same thing as operating a tech business.
The 11 tech companies selected as 'Companies to Watch' this year include:
Allied Payment Network, Fort Wayne
BlueBridge Digital, Fishers
Haiku Learning, Goshen
PolicyStat, Inc., Carmel
Rook Security, Indianapolis
RS2 Technologies, Munster
Tempus Technologies, Auburn
from the 'Companies to Watch' press release
“This year’s class of ‘Companies to Watch’ demonstrates the creativity and business skills of Hoosier entrepreneurs from throughout Indiana,” said Lt. Governor Sue Ellspermann. “They are already making meaningful contributions to our economy and creating jobs in a variety of business enterprises. I congratulate them on their success and how they show that Indiana is ‘a state that works’ for small business.”
Presented by the Indiana Office of Small Business and Entrepreneurship (OSBE), its Indiana Small Business Development Center, the Indiana Economic Development Corporation (IEDC), and endorsed by the Edward Lowe Foundation, ‘Indiana Companies to Watch’ recognizes privately held Indiana businesses that have experienced exceptional growth and well positioned for future growth. Eligible companies must have six to 150 full-time employees and have generated between $750,000 to $100 million in annual revenue or capital.
The chosen companies project to have combined revenues in excess of $233 million and create more than 242 new jobs this year. The revenue projections represent an increase of more than $77 million or 50 percent from 2013.
The 27 ‘Companies to Watch’ will be honored at a public Aug. 20 ceremony at the Indiana Roof Ballroom in Indianapolis. Tickets for the ceremony and dinner are still available and may be purchased online at www.inctw.org or by calling 888.472.3244.
Why do you think tech firms are dominating this year's 'Companies to Watch' list? Please share your thoughts in the comments section below.