A "Ready to Rocket" company has clearly established a base of initial customers and revenue and is rapidly increasing headcount and revenue. Ready to Rocket Recognition Lists are published for multiple technology sectors starting in 2011.
For each of the technology sectors, the criteria is quite different to reflect the differences in growth dynamics across those sectors.
Since this is a recognition list for British Columbia's technology industry, the company needs to have a base of operations in British Columbia and have been initiated in this province of Canada.
Information and Communications Technology (ICT) Criteria
ICT Companies include Information, Communications, Wireless, New Media and Internet technologies.
To qualify for nomination, a company must have more than $500K in
revenue and a growing base of customers. The selection committee is
looking for companies that have the potential for 50% to 100% growth
in the coming year, and are in good position to leverage industry
trends or key industry partnerships.
CleanTech Criteria
Clean technology, or "cleantech," includes the renewable energy (wind power, solar power, biomass, hydropower, biofuels), green transportation, electric motors, green chemistry, lighting, environmental protection (air, water, soil) and any innovation that improves energy efficiency.
To qualify for nomination, a company must be beyond the proof of
concept stage - customer validation, scalable demonstration project,
and established industry relationships.
The selection committee is looking for companies that have the
potential for 50% to 100% growth in the coming year, and are in good
position to leverage industry trends or key industry partnerships.
Life Science List Criteria
Life Science Technology includes Biotechnology, Pharmaceuticals, Medical Devices, Healthcare Information Technology and other innovations improving health.
To qualify, a company must be entering a breakthrough stage in their
maturity - customer validation, regulatory approval, and established
industry relationships.
The selection committee is looking for early indicators of long-term
potential and increasing shareholder value, such as passing key regulatory hurdles and achieving
related validation steps.
Digital Health List Criteria
Digital Health includes medical health record management, corporate wellness, personal health and wellness applications and wearables.
revenue and a growing base of customers. The selection committee is
looking for companies that have the potential for 50% to 100% growth
in the coming year, and are in good position to leverage industry
trends or key industry partnerships.
Agri-Food List Criteria
The Agri-Food list includes Agricultural, Food and Cannabis Technologies -- from genetics to farming and all the way to the consumer.
revenue and a growing base of customers. The selection committee is
looking for companies that have the potential for 50% to 100% growth
in the coming year, and are in good position to leverage industry
trends or key industry partnerships.
Emerging Rockets Lists
An "Emerging Rocket" company is defined as a business entering the market and trying to establish a base of initial customers and its primary milestones are first sales, partnerships and investment.
The objective of the "Emerging Rocket" recognition lists is for showcasing early stage companies who have chosen exciting emerging technology areas and new innovative approaches before they scale up in revenue.
To qualify, the company must have a completed product offering (aka. post-MVP) and initial customers.
The selection committee is looking for companies with a clear business model and a go-to-market strategy that will be attractive to early stage investors.