Seven Icelandic companies are on Europe’s 500 Job Creating Companies, known as “Europe’s 500”, published by Europe ’s Entrepreneurs for Growth.
Transportation company Avion Group placed second; generic drug maker Actavis placed 23; IT solution provider Kögun placed 80; financial information services company Creditinfo Group placed 103; IT solution provider Opin Kerfi Group placed 136; software company Tölvumyndir placed 179; and prosthetics company Össur placed 185.
According to Business Week, Europe’s 500 focuses on employment creation. Companies who have successfully met the criteria and verification process are ranked according to their growth performance via the David Birch Employee Growth Index. The index focuses on employment creation, combining both relative and absolute growth, and is used to rank and quantify the companies’ performance.
To qualify for Europe’s 500 list, a company must have its base either in one of the 25 European Union member states or in Iceland, Norway, or Switzerland. It must have been founded before 2002, have had at least 50 employees but no more than 5,000 at the beginning of 2001, and have shown profits at least once during a three-year reference period.Companies nominate themselves as candidates for the ranking. Both publicly listed and privately held companies can apply.