Who can receive a FastTrack Award?
FastTrack Awards are presented to “gazelle” companies headquartered in Washtenaw County. “Gazelles” are defined as high-growth companies that are increasing revenues by at least 20% annually for three years or more, starting from a revenue base of at least $100,000. As gazelle companies are characterized by their rapid growth pace, rather than their absolute size, they can range in size from small companies to very large enterprises.
How do you apply?
There is a short application to fill out, which asks for basic company information and proof of growth. The application this year is a Google form, available here.
What is the deadline?
May 1, 2019.
What is required to win?
In order to qualify, each company must have at least $100,000 gross revenue in 2015, with an annual average growth of at least 20% for the following three years. The application will ask for three separate years of revenue figures. (2018 revenues must be greater than 2017 revenues.) These can be in the form of federal tax forms (the first page of the annual return) or financial statements prepared by independent accountants.
Note: The 20% growth figure is year over year, meaning each year must have at least 20% growth (not an average of all three years).
If a company meets these criteria, they will win a FastTrack Award!
Who reviews the applications?
The FastTrack Awards are sponsored by an accounting partner, whose representatives review the applications and determine if the companies meet the criteria. All financial information is kept confidential.
Is there a FastTrack Awards Ceremony?
In 2019, the FastTrack Awards will have its own dedicated event. Though it still early in the planning stages, it will be a cocktail reception in early June with an awards ceremony and time for networking and celebration.
Further questions? Contact:
Director of Research
Ann Arbor SPARK