Fastest Growing Companies: Building success from a capital HQ

It is with great pleasure that we present the third annual edition of Ottawa's Fastest Growing Companies.

The goal of this program is to seek out and recognize privately held companies that can demonstrate strong growth while remaining cash-flow positive. After consulting with local accountants, we established somewhat stringent criteria to ensure companies that have made the cut represent the best of what Ottawa has to offer.

To qualify, companies must be headquartered in the National Capital Region or adjacent municipalities. They must have completed three fiscal years with financials that have been verified by a third-party accountant with either a review engagement or audit.

Provided these criteria were met, we were open to any private company in any industry. Each company was evaluated and ranked based on its percentage revenue growth between the first year and the third year of its most recently completed three-year fiscal period. The company must also have been cash-flow positive in all three years. To ensure we were attracting established companies of substance, we also imposed minimum revenue requirements. In year one of the qualifying period, each company must have had revenues of at least $100,000 and of least $750,000 in year three.

While we agreed not to publish specific financial figures, since such information is confidential for a privately held company, we can say that our finalists enjoy annual sales in the millions, in some cases tens of millions, of dollars.

Not surprisingly, the majority of our applicants were once again high-tech firms, but this year's list also boasts a repeat appearance by a pair of staffing firms and a certain gourmet burger chain.

In fact, two companies deserve special mention for making the list three years in a row. Congratulations to Ion Aimers and his team at the Works Gourmet Burger Bistro, and to Frederic Boulanger and his team at Macadamian Technologies. A special note as well to Fidus Systems. Fidus made the list in the previous two years and while it didn't this year, it did requalify with revenue growth of 47 per cent.

Appearing for a second time on the list are inRound Innovations and QMR Staffing Solutions.

In this week's issue of the OBJ, we featured a Q&A with the senior executives of the three fastest-growing companies, inRound Innovations, Epiphan Systems and Cactus Commerce, as well as profiles of each of the 10 companies.

Read, enjoy and learn what has allowed these companies to achieve strong and sustainable growth.


(Companies ranked by percentage revenue growth over three-year period)

  1. 258.7   inRound Innovations
  2. 241.6   Epiphan Systems Inc.
  3. 164.9   Cactus Commerce Inc.
  4. 157.7   bitHeads Inc.
  5. 157.5   Thinknostic Inc.
  6. 130.3   QMR Staffing Solutions Inc.
  7. 108.8   Stoneworks Technologies Inc.
  8. 108.2   DICA Electronics Ltd.
  9. 59.2   Macadamian Technologies
  10. 58.4   The Works Gourmet Burger Bistro

Watch out for the full profiles of the Fastest Growing Companies, and the Q&A with the chief executives of the top three firms on the list, which will be published on by Wednesday afternoon.