To celebrate the spirit of innovation that powers businesses to expand and grow, The Straits Times (ST) is inviting companies to take part in its maiden project to honour corporate successes.
All companies, regardless of size, with their headquarters in Singapore are eligible to join the project to determine if they can be on the list of "Singapore's Fastest Gro-wing Companies".
They have to submit their revenue data collected over four years to meet one of the main criteria, which is revenue growth from the companies' operations.
While there is no entry fee, participating companies must have reported revenues of at least $150,000 in 2014 and $1.5 million last year, excluding any investment or fund injection. All submissions must be verified by the companies' top executives.
"Singapore's Fastest Growing Companies", whose launch is among the events to mark The Straits Times' 173rd anniversary, is being conducted jointly with Statista, an international market research company based in Hamburg, Germany.
Statista, which was involved previously in similar corporate rankings in Britain, France, Switzerland and Germany, has provided business intelligence and research on more than 80,000 topics. Apart from uncovering the hidden gems of the corporate world, the project aims to contribute to overall business growth in Singapore by highlighting such companies to potential investors.
High-growth companies also play an important role in employment as they can create new jobs and propel a country's growth.
Visit www.straitstimes.com for more information or to register.
Registration for the ranking will close on Sept 17.
The results of the ranking will be announced in The Straits Times at the end of the year.
Mr Warren Fernandez, ST editor and editor-in-chief of Singapore Press Holdings' English/Malay/ Tamil Media group, said: "Our aim is to showcase companies which are doing something right, as shown by their rapid acceleration on the growth curve.
"What are these companies doing to help themselves get ahead? Our survey will delve into that, drawing out lessons that all our readers might find useful and interesting."
Dr Friedrich Schwandt, founder and chief executive officer of Statista, said: "We are very excited to kick off this initiative with The Straits Times in Singapore. And I am very curious to find out the growth engines in one of the most vibrant economies in the world."
Based on Statista's exercises in other countries, he said companies in Singapore should consider taking part in the project if their average annual growth rate was about 10 per cent or more annually in the given period.
While public-listed companies would typically be among the fastest-growing companies, relatively small and privately held enterprises are likely to take top positions in the ranking .
"This observation leads to a central objective of this initiative, which is to shed light on little-known firms that have the potential to develop into future pillars of Singapore's economy," Dr Schwandt said.
Ms Lee Su Shyan, ST's business editor, said: "We hope to unearth the rough diamonds among Singapore businesses. Even if companies feel they are not ready, they may gain useful insights from participating. For those that have done well, it is an opportunity for us to celebrate the entrepreneurial spirit of these businesses."