Canada's Most Prestigious Technology Award Program Celebrates a Decade of
Canadian Technology Innovation, Growth and Entrepreneurial Spirit
TORONTO & BOSTON, September 20 /CNW/ - First Coverage Inc.
(www.firstcoverage.com), a web-based software company delivering
industry-leading coverage optimization solutions to the global institutional
investment community, has won a coveted Companies-to-Watch Award, one of four
awards categories that make up the 2007 Deloitte Technology Fast 50 Awards,
which is celebrating its 10th anniversary as the pre-eminent technology awards
program in Canada.
Companies-to-Watch Awards honour early-stage Canadian technology
companies in business less than five years. These companies exemplify many of
the winning characteristics of Deloitte Technology Fast 50 ranked companies,
which are judged using a longer track record.
First Coverage has developed a highly intuitive and innovative web
application to allow investment professionals on the buy side to effortlessly
evaluate, according to their own customized criteria, every current and
potential relationship they maintain with the sell side. The resulting
analysis prevents continued Alpha Erosion, delivers proven higher returns for
the buy-side and their investors, provides clarity in assessing the value
generated by institutional salespeople, and brings accountability to the
commission allocation process.
"We are extremely grateful to the Deloitte Technology Fast 50 program for
this esteemed recognition of our efforts. This award is due to the hard work
and dedication of our employees and is shared with all of First Coverage's
partners and clients," said First Coverage CEO Randy Cass. "This provides us
with yet another indication that our company's mission of raising the
standards of accountability and transparency within the investment process is
one shared by investors and the financial community at large."
"Companies-to-Watch award winners frequently go on to score high rankings
in the Deloitte Fast 50 once they have a five year track record," said John
Ruffolo, National Leader, Technology, Media &Telecommunications Industry
Group, Deloitte. "First Coverage has quickly distinguished itself for its
innovative technology and entrepreneurship and this award recognizes its
potential as a future leader in the Canadian technology industry."
Over the last decade, the Deloitte Technology Fast 50 program has tracked
the successful growth of Canadian-grown global leaders such as Research in
Motion (RIM), which has ranked among the Deloitte Technology Fast 50 every
year since the program's inception in 1997.
The majority of Companies-to-Watch winners are potential global leaders
in technology sectors that didn't even exist five years ago. To win the award,
companies must display the kind of management expertise and superior
technology that mark a successful early-stage company poised for continued
growth. To qualify for the Companies-to-Watch Award, candidates must have been
operating less than five years and have revenues less than $5 million. They
must also be headquartered in Canada and devote a significant portion of their
operating revenues to creating proprietary technology and/or intellectual
About the Deloitte Technology Fast 50
This year marks the 10th anniversary of the Deloitte Technology Fast 50
program, which celebrates business growth, innovation and entrepreneurship.
The program features four distinct categories including the Deloitte
Technology Fast 50 Ranking, Companies-to-Watch Awards (honouring early-stage
Canadian technology companies in business less than five years,) Leadership
Awards (Deloitte Technology Fast 50-ranked companies that demonstrate
leadership in each of the four industry subcategories of emerging
technologies, hardware, software, and telecommunications) and the Deloitte
Technology Green 15 Awards (honouring companies creating innovative and
economically viable intellectual property in the burgeoning field of green
technology). Deloitte Technology Fast 50 winners are automatically eligible
for the prestigious Deloitte Technology Fast 500 ranking. Program sponsors
include Deloitte, Gowlings, GrowthWorks, CIBC World Markets, Stonewood Group,
Behr & Associates, and CATAAlliance. For further information, visit
www.fast50.ca or call 1-888-6FAST50.
About First Coverage Inc.
First Coverage Inc. is a software company delivering industry-leading
coverage optimization solutions to the institutional investment community.
With its innovative web application, First Coverage optimizes the relationship
between investment professionals and their sell-side coverage. Coverage
optimization results in measurably higher returns for the buy-side and their
investors, enhanced visibility of the value generated by institutional
salespeople and accountability in the commission allocation process. For more
information, visit www.firstcoverage.com.
For further information:
For further information: Intermarket Communications Jed Hamilton,
212-754-5479 firstname.lastname@example.org or Beth Leri, 212-754-5415