Orlando, FL (November 10, 2020) – GrowFL is pleased to announce the 50 companies selected as this year’s GrowFL Florida Companies to Watch honorees, a statewide competition that identifies companies expected to see significant growth over the next several years. The 2020 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, making them “worth watching.” GrowFL received more than 400 nominations for the award this year. 

82 finalists were announced earlier this year, and the 50 honorees were selected after a final round of judging by a panel of independent judges comprised of past honorees, economic development leaders and corporate partners of GrowFL.  Companies were judged on a number of criteria including: growth in 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. 

Over the last 9 years, GrowFL has honored 450 companies from throughout Florida with this prestigious award. With this year’s honorees, GrowFL has now recognized 500 companies throughout Florida that are making a positive impact on the economy and the communities in which they live.  Many of the past honorees have now grown their companies to stage 3 and stage 4 businesses employing more than 500.

“These stand-out companies are all led by entrepreneurs, and have demonstrated not only their willingness to grow, but their capacity to do it successfully,” said Dr. Tom O’Neal, GrowFL Founder.  “They are all positioned to make a significant impact on Florida’s economy with their products, services, critical intellectual property or a niche position that gives them a competitive edge in their markets. These business owners demonstrate strong leadership, philanthropic involvement, perseverance and all it means to be an entrepreneur.” 

“The 50 second-stage companies named as GrowFL Florida Companies to Watch Honorees reflect the exceptional leaders who are making a difference in growing and diversifying the state of Florida,” said Jennifer Barrows, Chairman of the GrowFL Advisory Board and Business Development Executive with Withum. “Second-stage companies are defined as those with 6 to 150 full-time employees and between $750,000 and $100 million in annual revenue. As the only organization in Florida that focuses exclusively on this state of business, GrowFL works to develop program specifically to support and celebrate them.” 

From 2016 through 2019, these companies generated $813 million in revenue and added 668 employees, reflecting a 103% increase in revenue and 113% increase in jobs for the four-year period. That translates into a 27% average annual revenue growth and 20% average annual growth in employees. 

Even through the pandemic, these companies projected continued growth in 2020, with a 15% revenue increase and 17% growth in employees compared to 2019. If their projections hold, these companies will have generated $1.14 billion in revenue and added 887 employees over the last five years — a 133% increase in revenue and 150% increase in jobs since 2016.

Companies named to the list will be officially recognized at the 10th Annual GrowFL Florida Companies to Watch Celebration on February 18, 2021 at the Hammock Beach Resort and Spa in Palm Coast, FL.  The event will also be broadcast live. Tickets are on sale now. 

For more information or to purchase tickets, visit https://growfl.com/flctw20/about-flctw/ 

2020 GrowFL Florida Companies to Watch sponsors:  OUC – The Reliable One, Florida Power and Light Company, Custom Manufacturing and Engineering, QuantumFlo, Inc., Sales Advisors of Florida, Withum, PBM Specialties, NestEggs, Suncoast Credit Union, Stankowski Advanced Strategies, CYBIS, Orlando Tech Council, Florida High Tech Corridor Council, University of Central Florida, University of South Florida, Florida Trend, Wells Fargo and FloridaMakes.

Below is the list of the 2020 GrowFL Florida Companies to Watch top 50 honorees: