MOSCOW, November 19, 2013 /PRNewswire/ --
The second TechUp ratings for Russia's fast-growing high-tech companies have been published. "TechUp-2013" was organized by RVC in partnership with the Association of Innovative Regions of Russia (AIRR), Vnesheconombank (VEB) and the PwC audit and consulting network.
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The rating started in 2012 to determine Russia's most dynamic innovation and technology companies. In 2013, PwC developed the methodology. Companies meeting the following criteria were assessed:
The rating only included companies which exceeded the average performance levels for their respective sectors over the past three years. Further key criteria could include the successful market launch of at least one new product or service based on the company's own intellectual developments or raising at least 30% of revenues from sales, depending on the sector.
Russia's technological development is reflected by the companies represented in the study: 36% of them are ICT companies, 32% work in mechanical, instrument and electrical engineering. Some 18% work in pharmaceuticals and medical devices, 8% are involved in chemistry and environmental protection and 6% represent construction and materials. The rating collected data on more than 100 Russian tech companies.
The companies in the "TechUP-2013" Top-50 have a combined revenue of 67.131 billion rubles and an average growth rate 71.9%. Their collective spend on R&D was 5.644 billion rubles, representing 8.4% of their total revenue. Their expenditure on technological innovations totaled 11.472 billion rubles, or 17.1% of their revenue.
Top-10 largest companies (by revenue)
Top-10 fastest-growing companies (by revenue growth rate)
Top-10 most innovative companies (by technology level, originality, intellectual property, and investment in R&D).
Detailed information about the rating is available at http://www.ratingtechup.ru/en/rate
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