Two in three firms in this year's list of Singapore's top 50 fastest-growing companies have at least 10 years of experience in the business.
The figure - 64 per cent - is significantly higher than last year's 44 per cent and 52 per cent in 2016, according to DP Information Group, which compiles the annual list.
The Fastest Growing 50 Companies in Singapore (FG50) list identifies 50 Singapore-registered companies with the highest three-year compounded annual growth rate.
A strong focus on innovation, diversification and internationalisation were cited as key differentiators of this year's list, said Mr James Gothard, general manager of credit services and strategy (South-east Asia) at Experian, the parent company of DP Info.
"Our rankings consider the financial results of Singapore-registered companies in the past three years, and we're seeing consistent and phenomenal growth rates from older companies even in the midst of international competition and economic headwinds," he said.
FG50 companies this year that have invested in innovation to drive long-term growth include J&S Telecoms International, a 15-year-old Singapore-founded technology service and solutions provider.
Percentage of firms in this year's list of Singapore's top 50 fastest-growing companies with at least 10 years of experience in the business.
Percentage of such firms in the list last year.
It launched a distribution company to sell and distribute consumer products in Singapore, tapping its core expertise in telecommunications to reduce or alleviate harmful electromagnetic radiation in offices and homes.
It is also in talks with global strategic partners to develop new telecommunications software and products.
Global technology firms such as geospatial solutions provider UniStrong Technology, a subsidiary of Beijing-based Global Navigation Satellite System pioneer Beijing UniStrong Science & Technology, and network security appliance provider Fortinet Singapore have also set up innovation centres here to develop their technical expertise and products for a global market.
These initiatives, among others, have seen UniStrong increase its revenue almost threefold, and Fortinet about 3.5 times, since 2014.
There are also more investment grade (DP14) firms on the list, with 33 - or 66 per cent - listed as investment grade against 48 per cent last year and 56 per cent in 2016.
Fifteen companies achieved the highest DP1 credit rating this year, up from seven last year.
A higher DP credit rating is an indicator of a lower risk of default, showcasing a company's financial and credit worthiness.
DP Info has been compiling the FG50 annually since 2002, and analyses the financial results of more than 70,000 firms to recognise Singapore's 50 most dynamic and fastest-growing companies.