Austin, TX (PRWEB) December 19, 2013
Tolteq, a leading provider of Measurement While Drilling (MWD) systems and components, has been recognized by Texas A&M University’s Mays Business School for the second year in a row to be among the 100 fastest growing Aggie-owned or Aggie-led business in the world. Among the companies recognized, Tolteq ranked eighth with a compound annual growth rate of 108.5% from 2010 through 2012. This is the second year in a row that the firm has been honored in the top 10, ranking seventh in 2012.
“It is a huge honor to be recognized by my alma mater, Texas A&M University, and to be named among these outstanding entrepreneurs,” said Paul Deere, Founder and President of Tolteq. “It has taken a lot of commitment to get where we are today. We’ve remained focused on our goals and Tolteq will continue to strive for excellence no matter the challenges we face.”
The past year has been one of significant milestones. In just twelve months, Tolteq has grown from 30 employees to over 80 and has elevated its reputation from a regional provider to a global enterprise. In August, the company was recognized as number 311 among the Inc. 500 and the next phase of expansion for its Cedar Park campus is expected to break ground in January 2014.
“Our Aggie 100 honorees demonstrate that the character and traditions developed at our great university continue to play a significant role in their success across industries and generations,” said Dr. Richard Lester, Executive Director of the Mays Business School’s Center for New Ventures and Entrepreneurship. “Aggie leaders have proven time and time again that no matter the situation, solid business ideas, strong character, tenacity, and hard work pay off.”
Tolteq Group, LLC, (Tolteq) is a leading provider of Measurement While Drilling (MWD) systems and components. Tolteq’s innovative engineering transforms downhole data into downhole intelligence. We push the known boundaries to give our clients’ reliable data and reliable tools, because that means the difference between a successful job and one filled with interruptions. Tolteq’s goal is to minimize the clients’ non-productive time by providing innovative tools and software solutions that offer market-leading reliability and allow unprecedented access to downhole data.
Tolteq – transforming downhole data into downhole intelligence. http://www.tolteq.com
About the Aggie 100
The Aggie 100, the first of its kind at the college level, was created by the Center for New Ventures and Entrepreneurship in Texas A&M University’s Mays Business School, whose mission is to provide encouragement, education, networking and assistance to entrepreneurially-minded students, faculty and Texas businesses. The Aggie 100 is a unique way for Texas A&M University to demonstrate its pride in the accomplishments of its former students while enriching the educational experience for today’s students.
While there are many ways to define business success, the Aggie 100 focuses on growth as an indicator of job creation, product acceptance, and entrepreneurial vision.
The Aggie 100 identifies, recognizes, and celebrates the 100 fastest growing Aggie-owned or Aggie-led businesses in the world.
To qualify, companies were required to meet the following criteria:
- In business for 5 years or more as of June 30, 2013,
- Verifiable revenues of $250,000 or more for calendar year 2010, and
- Operations consistent with the Aggie Code of Honor.
Additionally, the company must meet one of the following leadership criteria:
- A Texas A&M University former student or group of former students must have owned 50% or more of the company from January 1, 2010 through December 31, 2012,
- A Texas A&M University former student must have served as the company’s chief executive (for example chairman, CEO, president or managing partner) from January 1, 2010 through December 31, 2012, or
- A Texas A&M University former student must have founded the company and been active as a member of its most senior management team from January 1, 2010 through December 31, 2012.
About The Center for New Ventures and Entrepreneurship
The Texas A&M Center for New Ventures and Entrepreneurship provides encouragement, education, networking, and assistance to entrepreneurially-minded students, faculty, and Texas businesses. Founded in 1999, the Center is part of Mays Business School's Department of Management. The Center enhances student education through campus speakers, competitions, work experiences, and financial support. The Texas A&M faculty and Office of Technology Commercialization also benefit from the Center's educational programs, extensive business community network, and the entrepreneurial services.
The Center reaches the state's business community through educational programs, business assistance, and access to University resources. The Center receives financial support from corporations, individuals, and sponsors who believe in the value of entrepreneurial education and the value of Texas businesses working with a world-class university.
The 2013 Aggie 100 list can be viewed in its entirety at http://www.aggie100.com.