GrowFL Announces 12th Annual Florida Companies to Watch
(Venice, Florida) — DMSI International is pleased to be among the top 50 second-stage companies in Florida selected as a 12th Annual GrowFL Florida Companies to Watch honorees, a statewide competition that identifies companies expected to see significant growth over the next several years. The 12th Annual GrowFL Florida Companies to Watch awards celebration is brought to you by Nperspective CFO & Strategic Services, in association with the Edward Lowe Foundation.
Companies to Watch was developed by the Edward Lowe Foundation as a unique way to recognize and honor second-stage companies that demonstrate high performance in the marketplace with innovative strategies and processes. In addition to evaluating past growth and projected success, applicant companies are judged according to their special strengths and impact in their markets, communities, and within the state – thus deeming them worth watching.
66 finalists were announced earlier this year, and the 50 honorees were selected after a final round of judging by a panel comprised of past honorees, economic development leaders, and corporate partners of GrowFL. Companies were judged on a number of criteria including growth in the number of employees; impact of the business in the job market; increase in sales and/or unit volume; current and past financial reports; innovativeness of the product or service; response to adversity; and contributions to aid community-oriented projects.
“GrowFL Florida Companies to Watch was designed to celebrate the spirit of entrepreneurship and to shine a spotlight on the most deserving companies,” said Jennifer Taylor, president, and CEO of GrowFL. “This year’s honoree span 21 different counties, representing 22 different industries, and 50% of them are woman, veteran, or minority-owned. This diverse group of honorees can only mean one thing – Florida is the place where entrepreneurs thrive!”
“DMSI is a unique company in every aspect of the word ‘unique’. We are visionaries; a company built by people who are dedicated and determined to not let the things we do not have, be determined by the possibilities of what we could have. At DMSI, we don’t just manufacture cables; we create the solution.” Said Jeneth D’Alonzo, CEO of DMSI International.
“DMSI is a unique company in every aspect of the word ‘unique’. We are visionaries; a company built by people who are dedicated and determined to not let the things we do not have, be determined by the possibilities of what we could have. At DMSI, we don’t just manufacture cables; we create the solution.” Said Jeneth D’Alonzo, CEO of DMSI International.
“These are some of the most vibrant and dedicated entrepreneurs in our state. They are the champions that keep our communities strong by stimulating the economy, keeping the workforce employed, and giving back in ways that will change the course of our state for years to come. Like all the classes before them, this class of GrowFL Florida Companies to Watch honorees truly embody success and I know they’re only getting started,” said Dr. Tom O’Neal, GrowFL founder.
To qualify for the award, companies must be headquartered in Florida and have between 6 and 150 and revenue between $750,000 and $100 million. From 2018 through 2021, these companies generated $1 billion in revenue and added 881 employees, reflecting a 96% increase in revenue and a 104% increase in jobs for the four-year period. That translates into a 24% average annual revenue growth and a 26% average annual growth in employees.
These companies projected continued growth in 2022, with a 40% revenue increase and a 20% growth in employees compared to 2021. If their projections hold, these companies will have generated $1.5 billion in revenue and added 1,233 employees over the last five years — a 174% increase in revenue and a 146% increase in jobs since 2018.
Companies named to the list will be officially recognized at the 12th Annual GrowFL Florida Companies to Watch Celebration on February 23, 2023, at the Hard Rock Live in Universal CityWalk, Orlando, FL. Tickets are on sale now. For more information or to purchase tickets, visit https://growfl.com/about-growfl-flctw/.
Joining DMSI International on the GrowFL Florida Companies to Watch list are the following Florida-based businesses:
About DMSI International:
Diversified Material Specialists, Inc. (DMSI) International is an ISO-approved manufacturer with a focus on world-class excellence in delivering fiber optic connectivity products. Our unique concept of Owning the Core® of our business gives us the latitude to develop, engineer, and produce quality products at competitive pricing.
For over 25 years, DMSI has been steadily building a solid customer base across the globe delivering a simple and highly focused manufacturing solution for our customers. Our business strategy revolves around the concept of a totally diversified manufacturing company providing integrated solutions to our clients.
About GrowFL:
GrowFL is dedicated to support and accelerate the growth of second-stage companies throughout Florida, by providing their leaders focused, efficient, and timely access to resources they deem important, such as connections with other second-stage company leaders, and professional organizations whose expertise, experience, and products lead to the second-stage company’s continued growth and prosperity resulting in diversification and growth of Florida’s economy. Second-stage growth companies have at least 6 employees and $750,000 in revenue and possess an intent and desire to grow beyond second-stage. Website: https://www.growfl.com
About the Edward Lowe Foundation:
The Edward Lowe Foundation was established in 1985 by Ed and Darlene Lowe to leverage entrepreneurship as a strategy for economic growth and community development. The foundation’s entrepreneurship initiatives focus on second-stage companies, which are growth-oriented firms that have moved beyond startup but have not yet reached maturity. Its peer learning, leadership education, and strategic information programs are geared to help these companies continue growing. For more information, visit www.EdwardLowe.org.
