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Deloitte Unveils 2018 North America Technology Fast 500™ Rankings

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Deloitte today released the “2018 North America Technology Fast 500,” an annual ranking of the fastest-growing North American companies in technology, media, telecommunications, life sciences and energy tech sectors. SwanLeap claimed the top spot with a growth rate of 77,260 percent from 2014 to 2017.

SwanLeap, is a leading end-to-end transportation technology provider for logistics managers and supply chain decision-makers. Founded in 2013, SwanLeap uses artificial intelligence and machine learning to reduce costs for corporate shippers and improve their supply chain performance. Its new technology is helping clients secure an annual average transportation savings of 27 percent. SwanLeap is one of the two Madison, Wisconsin-based companies in the top 10 this year.

Awardees are selected for this honor based on percentage fiscal year revenue growth from 2014 to 2017. Overall, the 2018 Technology Fast 500 companies achieved revenue growth ranging from 143 percent to 77,260 percent over the three-year time frame, with a median growth rate of 412 percent.

“Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into useful products, services and experiences that can captivate new customers and drive remarkable growth.”

“It is both humbling and validating for SwanLeap to be listed as the No. 1 fastest-growing company on the Deloitte Fast 500,” said Brad Hollister, CEO and co-founder of SwanLeap. “Our team has worked relentlessly to deliver unprecedented clarity and control to a fragmented shipping market through technology powered by artificial intelligence, curating cost-effective and personalized supply chain recommendations in real time. We are grateful to our employees and customers for making this achievement possible.”

The Technology Fast 500’s top 10 include:

2018 Rank Company Sector Revenue Growth (2014 to 2017) City, State
1 SwanLeap Software 77,260 percent Madison, Wisconsin
2 Justworks Software 27,150 percent New York, New York
3 Shape Security Software 23,576 percent Mountain View, California
4 Periscope Data Software 23,227 percent San Francisco, California
5 Arrowhead Pharmaceuticals Inc. Biotechnology/
pharmaceutical
17,847 percent Pasadena, California
6 Viveve Medical Inc. Medical devices 16,887 percent Englewood, Colorado
7 iLearningEngines Software 14,848 percent Bethesda, Maryland
8 Exact Sciences Corp. Biotechnology/pharmaceutical 14,694 percent Madison, Wisconsin
9 Podium Software 13,381 percent Lehi, Utah
10 Markforged Electronic devices/hardware 12,687 percent Watertown, Massachusetts


Silicon Valley has largest share of winners

Deloitte’s Technology Fast 500 winners represent more than 38 states and provinces across North America.

California’s Silicon Valley continues to produce fast-growing companies, leading regional representation with 18 percent of this year’s Fast 500. The New York metro area also fared well with 14 percent of the companies; New England and Greater Washington, D.C., areas followed with 7 percent each, and Greater Los Angeles accounted for 6 percent. Following is a summary of the 2018 ranking by regions with a significant concentration of winners:

Location Percentage of List Fastest-Growing Company in the Region Overall Company Ranking Dominant Sectors in Location
Silicon Valley 18 percent Shape Security 3 Software 77 percent
New York Metro Area 14 percent Justworks 2 Software 56 percent; Digital content/media/entertainment 23 percent
New England 7 percent Markforged 10 Software 40 percent; Biotechnology/pharmaceuticals 29 percent; Medical devices 20 percent
Washington, DC iLearningEngines 7 Software 75 percent
Greater Los Angeles Area 6 percent Arrowhead Pharmaceuticals Inc. 5 Software 65 percent

Software continues to dominate the list for the 23rd straight year
Software companies continue to deliver the highest growth rates for the 23rd straight year, representing 64 percent of the entire list and six of the top 10 winners overall. Of the private companies on the list, 34 percent identify themselves as part of the software as a service (SaaS) subsector, 17 percent in the enterprise software subsector, and 9 percent in fintech. Since the creation of the ranking, software companies have consistently made up the majority of winners, with a median growth rate of 412 percent in 2018.

Digital content, media and entertainment companies make up the second most prevalent sector in this year’s rankings, accounting for 12 percent of the Fast 500 companies and achieving a median growth rate of 385 percent in 2018. Biotechnology/pharmaceutical companies rank third at 11 percent of the list with a median growth rate of 411 percent.

The Technology Fast 500 by industry sector:

Sector Percentage Sector Leader Median Revenue Growth (2014 to 2017)
Software 64 percent SwanLeap 412 percent
Digital content/media/entertainment 12 percent Remark Holdings Inc. 385 percent
Biotechnology/pharmaceutical 11 percent Arrowhead Pharmaceuticals Inc. 411 percent
Medical devices 5 percent Viveve Medical Inc. 396 percent
Communications/networking 3 percent xG Technology Inc. 394 percent
Electronic devices/hardware 3 percent Markforged 410 percent
Semiconductor 1 percent Aquantia Corp. 206 percent
Energy tech 1 percent Momentum Solar 693 percent

Four out of five companies received venture backing
In the 2018 Fast 500 rankings, 80 percent of the companies were backed by venture capital at some point in their company history. Notably, 25 of the top 30 companies on the Technology Fast 500 in 2018 received venture funding.

“Software, which accounts for nearly two of every three companies on the list, continues to produce the most exciting technologies of the 21st century, including innovations in artificial intelligence, predictive analytics and robotics,” said Mohana Dissanayake, partner, Deloitte & Touche LLP and industry leader for the technology, media and telecommunications industry, within Deloitte’s audit and assurance practice. “This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”

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Can big data help protect the planet?

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How do we get to a more sustainable and inclusive future if we don’t know where we are? This is where data comes in and, right now, we do not have the data we need. 

These were some of the questions asked at the Third Global Session of the UN Science-Policy-Business Forum held during the UN Environment Assembly. The virtual discussion delved into the role of big data and frontier tech in the transition to a sustainable future. 

Opening the session, United Nations Environment Programme (UNEP) Executive Director Inger Andersen said science needed to be digitized so it could be more democratic and accessible. She said digital transformation is central to UNEP’s new Medium-Term Strategy

“Big data and new tech can support real-time monitoring of the environment, help consumers adopt more sustainable behaviour, and create sustainable value chains,” she said. “The [UN] Secretary-General has made it very clear that digital transformation has to be part and parcel of the UN … we have oceans of data but drops of information.”

UNEP studies show that for 68 per cent of the environment-related Sustainable Development Goal indicators, there is not enough data to assess progress.

At the event, participants stressed that knowledge obtained through the latest digital technologies such as Artificial Intelligence, Machine Learning and the Internet of Things could speed up progress on environmental goals. Better data could inform interventions and investment, while boosting results and impact measurement.

Bridging the data divide

The data deficit is also hindering the world’s ability to respond to climate change.

Petteri Taalas, Secretary-General of the World Meteorological Organization, said earth observation systems and early warning services were still poor in parts of the world, with around US$ 400 million needed to improve these. 

“That is one of the ways to adapt to climate change – to invest in early warning services and observation systems. We have to monitor what is happening to the climate but this monitoring is in poor shape,” he said.  

Making the right technology available to developing countries not only presents a financing challenge, but also underlines the profound need for accessible, open-source technology.

Munir Akram, President of the UN Economic and Social Council, said bridging the digital divide is critical. He noted that connectivity was only around 17 per cent in the poorest countries compared to above 80 per cent in richer countries.

“We need to build a database for all the open source technologies that are available in the world and could be applied to build greener and more sustainable structures of production and consumption. These technologies are available but there is no composite database to access them,” he said.

UNEP’s digital transformation

UNEP’s commitment to harnessing technology for environmental action begins ‘at home.’ At the fourth session of the UN Environment Assembly in 2019, Member States called for a Big Data Strategy for UNEP by 2025.

The organisation is currently undertaking a digital transformation process, while also focusing on four key challenges:

  1. Help producers measure and disclose the environmental and climate performance of their products and supply chains;
  2. Help investors assess climate and environmental risks and align global capital flows to climate goals;
  3. Enable regulators to monitor real-time progress and risks;
  4. Integrate this data into the digital economy to shape incentives, feedback loops and behaviours.
  5. Indispensable tools
  6. Other cutting-edge digital transformation initiatives are also in progress. UNEP’s World Environment Situation Room, a platform put together by a consortium of Big Data partners in 2019, includes geo-referenced, remote-sensing and earth observation information and collates climate data in near real-time.
  7. At the event, Juliet Kabera, Director General of the Rwanda Environment Management Authority, described how her country had invested heavily in technology, including connectivity, drones and online platforms, such as the citizen e-service portal, Irembo.
  8. “There is no doubt that technology has a critical role in addressing the urgent challenges we all face today, regardless of where we are in the world,” Kabera said. “The COVID-19 pandemic once again reminded us that science and technology remain indispensable tools for humanity at large.”

UN Environment

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Women and girls belong in science

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As part of the World Bank's Education Quality Improvement Programme, students study biology at Sofia Amma Jan Girl's School in the Kandahar province of Afghanistan. World Bank/Ishaq Anis

Closed labs and increased care responsibilities are just a two of the challenges women in scientific fields are facing during the COVID-19 pandemic, the UN chief said in his message for the International Day of Women and Girls in Science, on Thursday. 

“Advancing gender equality in science and technology is essential for building a better future”, Secretary-General António Guterres stated, “We have seen this yet again in the fight against COVID-19”. 

Women, who represent 70 per cent of all healthcare workers, have been among those most affected by the pandemic and those leading the response to it. Yet, as women bear the brunt of school closures and working from home, gender inequalities have increased dramatically over the past year.  

Woman’s place is in the lab 

Citing the UN Educational, Scientific and Cultural Organization (UNESCO) he said that women account for only one third of the world’s researchers and hold fewer senior positions than men at top universities, which has led to “a lower publication rate, less visibility, less recognition and, critically, less funding”. 

Meanwhile, artificial intelligence (AI) and machine learning replicate existing biases.  

“Women and girls belong in science”, stressed the Secretary-General. 

Yet stereotypes have steered them away from science-related fields.  

Diversity fosters innovation 

The UN chief underscored the need to recognize that “greater diversity fosters greater innovation”.  

“Without more women in STEM [science, technology, engineering and mathematics], the world will continue to be designed by and for men, and the potential of girls and women will remain untapped”, he spelled out. 

Their presence is also critical in achieving the Sustainable Development Goals (SDGs), to close gender pay gaps and boost women’s earnings by $299 billion over the next ten years, according to Mr. Guterres. 

“STEM skills are also crucial in closing the global Internet user gap”, he said, urging everyone to “end gender discrimination, and ensure that all women and girls fulfill their potential and are an integral part in building a better world for all”. 

‘A place in science’ 

Meanwhile, despite a shortage of skills in most of the technological fields driving the Fourth Industrial Revolution, women still account for only 28 per cent of engineering graduates and 40 per cent of graduates in computer science and informatics, according to UNESCO.  

It argues the need for women to be a part of the digital economy to “prevent Industry 4.0 from perpetuating traditional gender biases”.  

UNESCO chief Audrey Azoulay observed that “even today, in the 21st century, women and girls are being sidelined in science-related fields due to their gender”.  

As the impact of AI on societal priorities continues to grow, the underrepresentation of women’s contribution to research and development means that their needs and perspectives are likely to be overlooked in the design of products that impact our daily lives, such as smartphone applications.  

“Women need to know that they have a place in science, technology, engineering and mathematics, and that they have a right to share in scientific progress”, said Ms. Azoulay.

‘Pathway’ to equality

Commemorating the day at a dedicated event, General Assembly President Volkan Bozkir informed that he is working with a newly established Gender Advisory Board to mainstream gender throughout all of the UN’s work, including the field of science. 

“We cannot allow the COVID-19 pandemic to derail our plans for equality”, he said, adding that increasing access to science, technology, engineering and mathematics education, for women and girls has emerged as “a pathway to gender equality and as a key objective of the 2030 Agenda for Sustainable Development”. 

Mr. Volkan highlighted the need to accelerate efforts and invest in training for girls to “learn and excel in science”. 

“From the laboratory to the boardroom, Twitter to television, we must amplify the voices of female scientists”, he stressed. 

STEM minorities  

Meanwhile, UNESCO and the L’Oréal Foundation honoured five women researchers in the fields of astrophysics, mathematics, chemistry and informatics as part of the 23rd International Prize for Women in Science.  

In its newly published global study on gender equality in scientific research, To be smart, the digital revolution will need to be inclusive, UNESCO shows that although the number of women in scientific research has risen to one in three, they remain a minority in mathematics, computer science, engineering and artificial intelligence. 

“It is not enough to attract women to a scientific or technological discipline”, said Shamila Nair-Bedouelle, Assistant UNESCO Director-General for Natural Sciences.  

“We must also know how to retain them, ensuring that their careers are not strewn with obstacles and that their achievements are recognized and supported by the international scientific community”. 

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Importance of information technology and digital marketing in Today’s world

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In the current times, to cope up with the demands of the changing world, we need to adopt digital and modern platforms. With the world rapidly growing towards digitalization and investing in information technology, our state is also going for unconventional means for carrying out different tasks in a more appropriate and time saving manner.

Firstly, we can take an example of online shopping. Many international and local brands have their online stores. Customers can order anything from any part of the world without traveling from one place to another. This initiative has contributed towards time saving and efficient use of technology. One can get whatever they want at their doorstep without any hustle of the traffic. This initiative has boosted the business as there are walk in customers as well as online. This initiative has also attracted a large number of audience due to ease and convenience in shopping. This phenomenon comes under the digitalization process. We should not forget the significance of internet in this regard as it was the first step towards digitalization. All the communication and digital platforms we are using are accessible to us due to internet.

Another aspect of information technology is combating the communication gap between states and its masses. Today, there are many applications like WhatsApp, Skype, Facebook, messenger etc. through which one can communicate with his/her friends, relatives without being physically present there.

We have websites of different organizations as well as educational institutions through which we can get the information of that specific organization. Like, when we are registered with an organization, all our data is stored on its official page and accessible to specific persons. Same is the case with students that their educational record is held by university and when they are registered with their institutions, they can receive any updates or any new events or job opening through emails and messages.

The Covid-19 factor cannot be ignored in this regard. Due to the rise in Corona cases, jobs have been shifted from physical to online. Work-from-home is the new normal. All this is happening due to the digitalization process. It would not be wrong to say that the progress in information technology and digital platforms has made the life easier for the people.

Another prominent component is the online banking. Through this people can easily do transactions through their phones or PC’s by logging in to their bank accounts while sitting at their home and can access it any time. Bills can be paid through it. This is definitely a sigh of relief for the people who are tired of standing in the long queue outside banks to submit their bills or complexities while going to banks and doing transactions over there. This facility has also minimized the time wasted in traffic jams and standing in queue for long hours while going to banks. This time could be used for other productive tasks.

Online registration of cars in Islamabad initiated during the COVID-19 is another wonder of digitalization process. Islamabad administration has made it easier for its people to register their cars while sitting at their homes without the fear of being infected. Food delivery systems should also be appreciated for their smart work. There are apps like food panda, cheetah etc. through which people can order their desired food through a call. Many food chains offer home deliveries that has made the lives of the people much convenient.

The much-appreciated step by the government is producing Pakistan made ventilators and stents in the view of the rapidly increasing Corona cases. This was possible due to appropriate scientific and technological knowledge. The government has also said that soon we will be seeing Pakistan made chargeable vehicles on the roads. They will prove to be economical and fuel saving; they will be easy to handle and have human friendly interface.

Developments in Nadra is another milestone as now everything is computerized, there is no paperwork required and all the records are saved in computers. Recently, our interior minister has said that Nadra will now exempt the cost of making identity cards and the card will be provided to the person after 15 days as previously it to took more time to give the card to the concerned person. Removing check posts in the capital and substituting them with other efficient measures like cameras, drones is another achievement. Another recent development in the line of digitalization that cannot be ignored is inauguration of online system by the Islamabad traffic Police through which people can get their license and other paperwork can be done through the online portal.

It can be concluded that we are gradually moving from traditional ways of working towards a digitalized era. However, there is still a room for improvement, the good thing is that people are understanding the importance of the digitalization process by gradually accepting it but further awareness through innovative campaigns does not bring any bad. An interesting take pertinent to advanced digitalization and technological growth is that it had definitely made people to completely rely on digital processes and solutions that now people have to opt for these advanced strategies in any case, whether they are comfortable with or not. Obviously, good things take time and using digital resources for fruitful purposes is not a bad idea at all; unless and until resources are not wasted.

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