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Ann Arbor SPARK is accepting applications for the organization's FastTrack awards through the end of January 2017.

(Patrick Record | The Ann Arbor News)

ANN ARBOR, MI - The deadline to submit applications for Ann Arbor SPARK's annual FastTrack Awards is fast approaching.

FastTrack awards are presented annually to "gazelle" companies that SPARK identifies as having achieved 20 percent annual growth and substantial revenue. The awards are to be presented at the Ann Arbor SPARK Annual Meeting on April 24, 2017, at the Eastern Michigan University Student Center in Ypsilanti.

In a press release, Ann Arbor SPARK President and CEO Paul Krutko said the FastTrack awards are a "highly visible way that we recognize this region's most successful businesses."

"More than just honoring their impressive achievement, FastTrack awards celebrate the impact that these businesses have on our region's economy," Krutko said in the press release. "Year over year, FastTrack Award winners are expanding, hiring, and continuing to consistently impact our economic growth and prosperity; our Annual Meeting is the right forum for this recognition."

Eligible companies for 2016 are required to have revenue of $100,000 in 2012 and annual growth of 20 percent or more over the following three years. Eligible companies in 2017 are required to have revenue of $100,000 in 2013 and annual growth of 20 percent or more over the following three years.

Separate applications are required for both 2016 and 2017 and will be verified by Yeo & Yeo CPAs & Business Consultants, who are sponsoring the FastTrack Awards. Applications are available online and due Jan. 31.