For the second consecutive year, the Deloitte Technology Fast 50 program celebrates and recognizes the fastest-growing technology companies based either in the Middle East or Cyprus.

Despite supply chain disruptions, the sharp rise in inflation, energy prices, and interest rates, the Middle East and Cyprus economies have demonstrated flexibility, resilience, and ability to deal with adversity in the past few years.

According to Deloitte, this year they received nearly 100 applications from the Middle East and Cyprus across Software, Fintech, Media and entertainment, Defence, and other sectors. 

Among the participations, SignalGeneriX Ltd and ADDITESS Ltd, both members of CARIE, have achieved a prominent place in Deloitte’s Technology Fast 50 program for two consecutive years (2021 and 2022) demonstrating the impact, capabilities, and growth potential of both the Cypriot Research and Innovation technology companies as well as the domestic defence ecosystem.

According to Deloitte, all companies, distinguished by their extraordinary growth, have demonstrated resilience and adaptability even in times of uncertainty, while their contributions to digital transformation, job creation, and the region’s continuous development were celebrated with great enthusiasm.

Also read: Review | The course of the Cypriot Defence Industry during the first half of 2023