Color Kinetics Inc., the manufacturer of digital lighting products, has been named a “Rising Star” as part of the New England Technology Fast 50 Program, an annual ranking of the fastest-growing technology companies in the area, presented by Deloitte & Touche and Hale and Dorr LLP and sponsored in association with Mazonson, Nasdaq, Trinity Communications and Mass High Tech, the Journal of New England Technology. Rising Star rankings are based on the percentage of growth in revenues over a three-year period (1998-2000).
Now in it second year, the program’s Rising Star category honors technology companies that have posted significant growth and have been in business for at least three years, but less than five years. Ten companies are named annually as Rising Stars on their way to becoming New England Technology Fast 50 companies in the future. To qualify, companies must have had operating revenues of at least $50,000 in 1998, and $1,000,000 in 2000; must be public or private companies headquartered in Massachusetts, New Hampshire, Maine, Rhode Island, or Vermont; and be “technology companies”—defined as companies that produce technology, manufacture a technology product, or devote a high percentage of effort to research and development of technology.
Color Kinetic’s co-founder (with Ihor Lys) and CEO, George Mueller said, “We’re very excited to be recognized as a Rising Star on New England’s competitive technology Scene. This award reinforces our position as a technology company within an industry traditionally considered outside the technology elite: lighting.” According to Steve DiPietro, co-chair of the New England Technology Fast 50 program for Deloitte & Touche, “To make the 2001 Rising Star list, companies must have sustained significant revenue growth in 2000, a year that many technology companies were finding it difficult just to stay solvent. We at Deloitte & Touche applaud Color Kinetics for having the long-term vision to develop technologies that kept the growing while many competitors faded away.”