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German technology companies of the branches communication / networking, internet, semiconductors / machinery, computer / periphery, life sciences and software entered this contest. Conditions for the participation were a sales revenue of at least 50,000 € for the year 1999 and not less than 1,000,000 € for the year 2003, a presence on the market for at least five years as well as a registered office in Germany. As partners Deutsche Börse Group, DVFA and the magazine Technology Review accompanied the competition initiated by Deloitte. The economy magazine CAPITAL assumed the media partnership.

This competition was modeled on the 'Technology Fast 50', which was organized for the first time in the USA in 1995. Due to the great interest beside the national 'Technology Fast 50' also regional 'Technology Fast 500'-programs are organised since 1997. Their target is to award a prize to the 500 fastest growing companies of a region (North-America, Europe and Asia/Pacific). In some of the countries these awards became symbols of quality and factor for corporate success.

As there is a connection of the German 'Technology Fast 50' to the European 'Technology Fast 500', the Fast 50 winners also have the chance to become one of the most successfull technology companies in Europe.

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