Entrepreneurial styles, corporate cultures give these second-stage companies competitive advantages
Orlando Fla. (July 19, 2017) — SawStreet® is among 50 statewide companies expected to see significant growth over the next several years. SawStreet® was selected from more than 500 nominees for Florida Companies to WatchSM, a statewide program managed by economic development group GrowFL, in association with the Edward Lowe Foundation.SawStreet’s management team, competitive market position and strong community involvement were among several factors that put them in contention for the award.
“These stand-out companies are all led by entrepreneurs, and have demonstrated their capacity and intent to grow,” said Dr. Tom O’Neal, executive director of the Florida Economic Gardening Institute and associate vice president for the University of Central Florida’s Office of Research and Commercialization. “They also all have critical intellectual property or a niche position that gives them a competitive edge in their markets,” he said.
“This is a strong group of companies that deserve this special recognition given annually to the state's top second stage companies,” said Dr. O’Neal. Second-stage companies are defined as those with six to 150 full-time employees and between $750,000 and $100 million in annual revenue. There are many programs and incubators promoting start-up businesses; GrowFL is the only Florida program that focuses exclusively on second-stage companies.
From 2013 through 2016, these companies generated more than $1 billion in revenue and added more than 1,300 employees, reflecting a 137 percent increase in revenue and 219 percent increase in employment for the four-year period. That translates into a 30 percent annual growth rate for revenue and a 50 percent annual growth rate for employment.
These companies project continued growth in 2017, with a 53 percent revenue increase and 36 percent growth in employment compared to 2016. If their projections hold, these companies will have generated $1.6 billion in revenue and added more than 2,000 jobs over the last five years — a 262 percent increase in revenue and 333 percent increase in jobs since 2013.
Companies named to the list will be officially recognized October 14, 2017 at the Straz, Tampa, FL. For more information, visit growfl.com/flctw17
SawStreet® is a privately owned quick turn semiconductor backend service provider founded in 2008. SawStreet's services include grinding, dicing, pick & place, and inspection. SawStreet is dedicated to providing the highest quality service and finding unique solutions to customer's more demanding requirements. SawStreet’s Silicon Valley experience in both semiconductor and backend services gives them unique insights into what is required to provide high quality, quick turn services to an industry where time to market issues are critical.
SawStreet® specializes in working on products for the microwave and millimeter wave market. This requires working with GaAs, InP, GaN/SiC substrates that may be as thin as 50 microns and semiconductor circuits no larger than 250 x 250 microns. Our services support a range of products used in the cellular, satellite, medical and security markets. The first major product that we supported was semiconductor chips for the millimeter wave body scanners now in use in our airports.
SawStreet® continues to innovate in the services it provides and continually works to further develop the software required to provide better services for our customers.
GrowFL was created in 2009 as an economic development program focused on assisting second-stage growth companies prosper in the state of Florida. By providing strategies, resources and support to second-stage companies for next level growth through Strategic Research, Peer Learning and Leadership Development, GrowFL helps companies overcome obstacles to growth and leads them towards prosperity. Based on the philosophy of Economic Gardening® — to grow existing businesses in a community, region or state — GrowFL, the Florida Economic Gardening Institute, is a critical component to the state’s economic development strategy and Florida’s entrepreneurial ecosystem. GrowFL is a statewide economic development organization certified by the National Center for Economic Gardening through the Edward Lowe Foundation. GrowFL has assisted more than 1000 companies through the Strategic Research and CEO Roundtable programs and recognized 300 successful entrepreneurs through the annual awards program, Florida Companies to Watch. Learn more at www.GrowFL.com.
About Edward Lowe Foundation
Established in 1985, the Edward Lowe Foundation is a national, nonprofit organization that supports entrepreneurship through research, recognition and educational programs, which are delivered through entrepreneur support organizations (ESOs). The foundation focuses on second-stage companies — those that have moved beyond the startup phase and seek significant, steady growth. In addition, the foundation has a mission of land stewardship and is committed to preserving the natural resources and historically significant structures at Big Rock Valley, its 2,000-acre home in southwest Michigan. Learn more at www.edwardlowe.org.