Technology companies are much more likely to succeed in Ireland, as well as Norway, Israel, Sweden, Finland and Holland, and there are two to five times as many tech firms in these countries than anywhere else in the EMEA (Europe, Middle East and Africa).
These facts were revealed by the Deloitte Tech Fast 500 EMEA survey, which also ranked 18 Irish companies among the 500 in the list.
David O’Flanagan, a partner in Deloitte Ireland, said: “Proportional to population numbers, Irish technology firms have performed impressively in this year’s EMEA ranking and it is a great testament to the industry in Ireland that we have such a strong presence.”
While two Irish companies Zamano and Digiweb ranked 2nd and 3rd respectively in the Irish Deloitte Fast 50 competition they also came in at 74th and 77th in the overall Fast 500 EMEA ranking.
The trend for the success of software companies continues to dominate with 200 of the Fast 500 operating in this sector. Two of the top five companies were in mobile content and delivery, another high-growth area.
In contrast to the North American Fast 500 which indicated growth rates have been in decline since the Deloitte ranking began in 2001, EMEA has actually shown a consistent increase indicating a healthier environment for high-growth technology companies here.
Separate to the Tech Fast 500, the Deloitte Technology Fast 500 EMEA CEO survey found that sourcing, hiring and keeping qualified staff is one of the greatest challenges for nearly 50pc of CEOs, pointing to a thriving job market for tech graduates despite recent prediction of an economic downturn.
By Marie Boran