The US Pan Asian American Chamber of Commerce Education Foundation (USPAACC) unveiled the winners of its prestigious Fast 50 Asian American Business Award competition.
USPAACC National President and CEO Susan Au Allen announced the winners and presented commemorative plaques to awardees during USPAACC’s signature CelebrASIAN Business Development Conference held at the Grand Hyatt Washington in Washington, D.C. May 25-27.
USPAACC’s prestigious Fast 50 Asian American Business Award publicly recognizes, showcases, and celebrates the nation’s fastest-growing Asian American businesses. The USPAACC-sponsored competition is based on the percentage growth of annual revenue for Asian American businesses with this year’s award focused on the top 50 such businesses.
Winners of the Fast 50 Asian American Business Award, who earned collective revenue of $1.6 billion last year, comprised an exhaustive list of industries, including IT, hospitality, manufacturing, professional services, staffing, accounting, advertising and marketing, automotive, engineering, facility services, finance and insurance, food and beverage, healthcare, import and export, legal services, logistics, management consulting, real estate, telecommunications, and transportation, respectively.
“Our Fast 50 Asian American Businesses Award recognizes the nation’s fastest-growing Asian American businesses. Our awardees are in very exclusive company reflecting their commitment to business excellence, innovation, resilience, and success across virtually every business sector, earning an impressive $1.6 billion in collective revenue," USPACC National President and CEO Susan Au Allen said.
"USPAACC is proud to recognize and celebrate our awardees’ impressive achievements as we continue raising the bar in promoting, supporting, and strengthening Asian American businesses so vital to our economy and way of life."
In order to be eligible, at least 51 percent of the business must be owned and managed by Asian Americans (U.S. citizens or legal permanent residents) and earn at least $1 million in gross annual revenue in 2019 and 2020 respectively. The selection is determined based on the nominee's gross revenue percentage growth rate from the past two years. Two groups are considered: product-focused companies and service-focused companies. A nominee will compete in the group based on its business focus (product or service). Business revenues and growth rates were cumulated, verified, ranked, and officially revealed by Ernst and Young, the official ranking sponsor of the award.
The winners of UPSAACC’s Fast 50 Asian Business Award for 2022 are as follows:
Founded in 1984 in the nation’s Capital, the US Pan Asian American Chamber of Commerce Education Foundation (USPAACC) is the most established and effective national nonprofit nonpartisan organization representing all Asian American and Asian American-related groups in business, sciences, the arts, sports, education, public and community services. Our mission is to promote and propel economic growth and job creation by opening doors to business and professional opportunities for Asian Americans and their partners in corporations, government at the federal, state and local levels, and the small, minority and diverse business communities. For 35 years, USPAACC has served and will continue to serve as the unified voice for equal opportunity in business for Asian Americans, as the gateway to corporate and government contracts, to Asian American suppliers, and information about Asian Americans and the Asia-Pacific and Indian Subcontinent markets.
Our signature annual thought-leadership programs include: College Hallmark Scholarship Program that began in 1989, One-on-One Prescheduled Business Matchmaking Meetings in 1998, Supplier Diversity & Procurement Leadership Caucus in 2004, Federal Contracting Town Hall Meetings in 2005, Fast 100 Asian American Businesses in 2008, Business Executive Coaching: ReadySetGrow in 2011, Chief Procurement Officers Forum in 2011, What’s Your Pitch Innovation Competitions in 2015, Chief Technology & Information Officers Forum in 2017, and Corporate Employee Business Resource Group Leadership Caucus in 2017.
Headquartered in Washington DC, USPAACC reaches Asian American businesses nationwide through regional chapters in California, Texas, New York, Georgia, Illinois and the Washington DC-Maryland-Virginia National Capital Area.
The SD Champions program advanced by USPAACC represents a purposeful shift away from awards solely based on a corporation's ability to spend and moves toward a new emphasis that encourages transparency, innovation, inclusion, impact on the community, and integration in supplier diversity programs.
Susan Au Allen, National President and CEO of the US Pan Asian American Chamber of Commerce Educational Foundation (USPAACC) will speak at Truist Tier2 Supplier Diversity Business Summit taking place Wednesday, September 14, from 1-4 p.m.
Agreement Formalizes Partnership and Expands Opportunities for Collaboration