When it comes to Canada's fastest growing tech companies, Ottawa has five of the top 50 firms.
Solace Systems is the top local firm at 14th spot with a five year growth rate-topping 2,300 per cent. Other local firms are Dragonwave, In-Touch Survey Systems, Eion Wireless, and Level Platforms.
The ranking is done by Deloitte Canada and also surveys the CEOs of these firms. This year, 80 per cent of the business leaders feel the venture capital industry, which fuels growth, continues to dry up in Canada and may soon be irrelevant, making growth in tech more difficult.
The top revenue growth rate was 64,000 per cent over five years by Clickfree based in the Toronto-area and supplying computer back up gear.
The survey also lists the top companies to watch -- Ottawa had one, TelepinSoftware and the top clean tech firms, again one from Ottawa, Energate.
Ottawa is on par with last year's results.
Deloitte officials also note that tech firms are becoming smaller and serving smaller and smaller niche markets.
View the full report at www.fast50.ca.
