Area’s 100 Top Startups Collectively Contributed Billions to Local Economy
Dallas (SMU) Nov. 14, 2024 – Maverick Power, a Plano-based company that creates custom solutions in the U.S. power distribution industry, ranks as the fastest-growing privately held startup company in the Dallas-Fort Worth area. The SMU Cox School of Business presented the Plano-based company with the top award earlier this week at the 34th annual Dallas 100™ Entrepreneur Awards Gala. The area’s top entrepreneurial companies—based on growth over three years—were revealed at the event, held at the Hyatt Regency Hotel Dallas.
During his victory speech, Maverick Power President and CEO Tom Currier recounted a story about a pivotal moment in the recent past when the company’s financials left him uncertain about the future—until the vice president of business development walked in announcing he had closed the deal on a huge contract. “For all the entrepreneurs out there, there are always lean times, there are always really tough times,” said Currier. “The challenge is whether you are willing to put one foot forward, whether you are willing to give it one more go. For us, that moment was a turning point that made all the difference.”
The Cox School’s Caruth Institute for Entrepreneurship, the founding sponsor of the Dallas 100, ranks the area’s top 100 entrepreneurial companies based on percentage growth and absolute dollar growth over the previous three years, emphasizing their contributions to the Dallas area economy. This year’s winners represent a broad spectrum of businesses from Dallas-Fort Worth and surrounding cities. To qualify for the Dallas 100 competition, companies must have revenue earnings of $1 million to $250 million. Collectively, the 2024 Dallas 100-ranked companies generated more than $8.5 billion from 2021 to 2023, the last year for which complete financial records are available. All 100 companies grew average sales from 2021 to 2023 by 80%, and in 2023 alone, all 100 companies generated sales of over $ 3.5 billion.
Event Chair-Elect Bill Rolley and Texas Capital Bank’s managing director said, “I really enjoy working with entrepreneurs in my job every day. They strive for success and we work to help them take their companies to the next level.” As middle market team lead of Texas Capital, the presenting sponsor of the 2024 Dallas 100 Award Gala, Rolley is keenly aware of the economic contributions of DFW entrepreneurs. “We’ve had such success with startup companies over the years. Companies have gone public, companies have been sold. It’s really great to help them and watch them on their journeys.”
The SMU Cox Caruth Institute, event founding sponsor, working with the accounting firm Forvis Mazars, examined 2021 to 2023 sales information submitted by hundreds of companies. In addition to Forvis Mazars, the 2024 program sponsors—in alphabetical order—were Executive Press; MarketScale; Polsinelli Law Firm; SMU Cox and SMU Lyle Hart Institute for Technology, Innovation and Entrepreneurship; SMU Cox Spears Institute for Entrepreneurial Leadership; and USI Insurance Services. Media sponsors were the Dallas Business Journal and KRLD NewsRadio 1080.
The top 10 fastest-growing DFW companies in 2024 received special recognition at the event. Listed in rank order, these companies are 1) Maverick Power, Plano; 2) Compass Datacenters, Dallas; 3) PayNetWorx, LLC, Van Alystyne; 4) Curis Functional Health, Dallas; 5) Sky Elements Drone Shows, North Richland Hills; 6) ILE Homes, Dallas; 7) Archer Review, Dallas; 8) Take Command, Richardson; 9) Chris Harp Construction, Nevada, TX; and 10) FTK Construction Services, Allen.
