Cyprus-based Municorn has claimed the top spot in Deloitte’s Technology Fast 50 Middle East and Cyprus rankings, with an extraordinary revenue growth rate of 20,164 per cent over the past four years.  The company’s performance highlights the increasing prominence of Cyprus within the region’s technology and innovation ecosystem.  The fourth edition of Deloitte’s Fast 50 programme saw a record-breaking 200-plus applications from across the Middle East and Cyprus, underlining growing maturity and engagement in the regional start-up landscape.  The rankings evaluate companies based on revenue growth over a four-year period and are designed to recognise the fastest-growing technology firms that are driving transformative change across industries.  This year’s list recorded an average growth rate of 8,823 per cent, with 29 companies exceeding 1,000 per cent growth—a new record for the initiative.  Fintech and software once again dominated, accounting for 22 per cent and 31 per cent of the ranked companies respectively.  Cyprus, which accounted for 16 per cent of the ranked firms, joined Saudi Arabia and the UAE in leading the region’s technological momentum.  Alongside Municorn, the Fast 50 top three featured companies from Cyprus and Saudi Arabia, reflecting a dynamic and competitive innovation environment.  Kyriacos Charalambides, Fast 50 Programme Leader, praised the selected companies for their role in redefining industries and addressing global challenges.  “I am thrilled about the companies featured in our listing for their transformative, groundbreaking technologies that are set to redefine the world as we know it, and the tech entrepreneurs who are changing conventional industries and propelling growth,” he said.  “They have all skillfully combined their expertise and passion to develop robust businesses that are experiencing remarkable growth,” he added.  The Fast 50 programme also featured special categories to promote diversity and inclusion.  Women-led companies represented 18 percent of this year’s rankings, up from 15 per cent last year. The Women in Leadership category continued to spotlight high-performing female-led ventures meeting core ranking criteria.  New to the programme this year was the Kiyadat category, honouring the contributions of GCC national founders.  It drew significant interest and underscored the critical role of local talent in advancing the regional tech sector.  The Impact category, which focuses on companies with Environmental, Social, and Governance (ESG) values at the heart of their operations, featured its own independent jury and assessed nominees on impact, excellence, and implementation through a structured pitching process.  Looking ahead, Deloitte will host Fast 50 Connect events throughout May, offering this year’s winners opportunities to network with investors, corporates, and fellow innovators from the broader Fast 50 community.  Stelios Kyriakides, Partner at Deloitte Cyprus, emphasised the strength of regional fintech.  “The fintech landscape in the region is evolving rapidly, with tech companies leading the charge in transforming financial services and setting new industry standards,” he said.  The Fast 50 results not only celebrate rapid revenue growth but also reinforce the strategic importance of Cyprus and its entrepreneurs in shaping the future of the Middle East’s technology-driven economy. (ICE BEIRUT)

Fonte notizia: Cyprus Mail