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Inaugural South Africa Fast Growth 100 list launched at State of Entrepreneurship Summit
JOHANNESBURG, Nov 19, 2009 (PR Newswire Europe via COMTEX) --
The inaugural South Africa Fast Growth 100 list was launched today at a
gala lunch as part of the State of Entrepreneurship Summit, held in
Johannesburg during Global Entrepreneurship Week.
Founded by AllWorld Network, Endeavor SA and Professor Michael Porter of
the Harvard Business School, the South Africa Fast Growth 100 list will
showcase the country's most innovative and dynamic privately owned companies
-- those that are spurring growth, creating jobs, driving the economy and
fostering prosperity.
The most competitive nations in the world have the highest rates of
entrepreneurship and fast-growing entrepreneurial companies provide a vital
indicator of country competitiveness. In ranking these companies, the South
Africa Fast Growth 100 list will provide an essential gauge of South Africa's
economic status and future growth potential. It will also highlight important
entrepreneurial role models, thereby fostering a greater culture of
entrepreneurship across the nation.
"When entrepreneurship takes hold, the growth momentum builds, generating
economic breakthroughs and social progress. And that's why growth
entrepreneurship is the essential fuel powering widespread prosperity in the
21st century," explained Deirdre M. Coyle, Jr., co-founder of AllWorld
Network, addressing an audience of entrepreneurs, venture capital firms,
financial institutions, media and international guests.
Speaking about Endeavor South Africa's involvement in the programme,
Malik Fal MD, added, "Endeavor South Africa is delighted to be part of the
South Africa Fast Growth 100 list, which we believe is poised to generate
much-needed excitement about entrepreneurship and its role in the future
prosperity of South Africa."
Applicants to the South Africa Fast Growth 100 list will be ranked
according to revenue performance over the last five years, and will undergo a
strenuous application process that includes reviewing of their audited
financial statements.
The companies that make it on to the list will enjoy the benefits of
national and international media exposure, and be connected to a global
network of entrepreneurial peers.
Having already launched the Saudi Fast Growth 100 and Arabia 500 in the
past two years, Coyle indicated AllWorld Network is concurrently launching
the Africa 500 and plan to launch the Asia, Eurasia and Latin America 500s in
the near future. "In 2012, we plan to publish the AllWorld 500 -- the ranking
of the most dynamic privately held companies in the emerging world," she
said. "For South Africa, it all begins here."
Entrepreneurs can apply to the South Africa Fast Growth 100 list online
by visiting www.southafricafastgrowth100.com. Applications close 15 March
2010.
About AllWorld Network
A decade ago, the co-founders of AllWorld Network -- Coyle and Habiby --
joined forces with Harvard Business School Professor Michael Porter and Inc.
magazine to create the US Inner City 100 list, looking for competitive
entrepreneurs where no one thought they existed -- in America's economically
distressed inner cities. In that first year, only 120 companies entered the
competition. But by 2008, there were 8,000 companies vying to be on the Inner
City 100 list. Companies have to be privately held and each one competes for
a spot based on its sales growth over the past five years. The Inner City 100
became an American phenomenon and its own engine of growth. In 2001 the UK's
then-Chancellor of the Exchequer, Gordon Brown, asked the team to create a UK
Inner City 100 with the Financial Times in 2001. In 2007, Coyle and Habiby
established AllWorld Network to take this model global. They began in Saudi
Arabia at the invitation of the Saudi Arabian General Investment , announcing
the inaugural Saudi Fast Growth 100 winners at the 2009 Global
Competitiveness Forum in Riyadh. The average growth rate of the first Saudi
100 over five years was a blistering 40% per year and winning companies
created 28,000 jobs since they were founded.
Contact: Deirdre M Coyle, Jr.
+1-617-504-4547
dcoylejr@nexteconomics.com
Deirdre M Coyle, Jr. of AllWorld Network, +1-617-504-4547,
dcoylejr@nexteconomics.com
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