FAQ
The RedHawk50 program provides a comprehensive list of frequently asked questions to address common inquiries ensuring that all relevant information is readily available and easily accessible.
What is the RedHawk50?
The RedHawk50 identifies, recognizes, and celebrates the 50 fastest-growing Miami-owned or Miami-led businesses in the world. The RedHawk50 not only celebrates their success, but it also provides a forum to recognize and celebrate the Miami University graduates and former students that founded, own, and/or lead those businesses each year and serve as a vehicle for them to pass lessons learned to the next generation of Miami entrepreneurs.
Unsure if a nominee meets all criteria?
If you know of a Miami-owned or Miami-led business that you think meets the criteria, nominate them! Nominees will receive an application packet and can choose whether or not they will apply. There is no harm in nominating them for the process.
Who can nominate a company?
Anyone can nominate a company! You don’t have to be a Miamian. Non-Miami alum are allowed to nominate their peers as well. You can even nominate yourself! The nominator's information is not made public.
Why do I see nomination and application dates? What does that process look like?
In order to apply to RedHawk50 a company must first be nominated. Nominees will be notified Jul. 30 of their nomination. The application will be sent with the notification of nomination. Applications are open from the end of July through the end of September each year. Nominees will be notified and sent a unique application link during this period. Those who complete the application process will be notified whether or not they made the RedHawk50 list in December.
Duration, Size, and Legal Structure:
The Company must meet all of the following criteria.- The company must be privately held, for-profit, and independent (not a subsidiary or division of another company) for the program time frame.
- Have been in business for three years or more as of the award year, and
- Have had verifiable revenues of $100,000 or more in the first calendar year of the three-year timeframe (January 1, 2020, through December 31, 2023) used to produce the 2024 RedHawk 50.
Leadership:
The Company must meet one or more of the following three criteria.
- A Miami University former student or group of former students must have owned 50% or more of the company for the timeframe being measured, or
- A Miami University former student must have served as the Company’s chief executive for the time frame being measured, or
- A Miami University former student must have founded the company and be an active member of the senior management team (i.e., Chairman, CEO, President, COO, or CFO) for the time frame being measured. RedHawk employees who hold a position in the company other than those listed above cannot be named as a RedHawk50 Honoree.
Character:
The Company must operate in a manner consistent with the Miami University Code of Conduct and in keeping with the spirit, values, and image of Miami University.
Miami University, The John W. Altman Institute for Entrepreneurship reserves the right to:
- Independently verify that nominees meet all criteria.
- Reject any nominee for any reason.
- Modify Criteria/Requirements as needed without notification.
What is involved in the application process?
The application form is relatively simple. A few checkboxes, answer a couple of questions related to the criteria and, along with the application, a Revenue Verification Form will be sent for submission to Miami’s Independent Accounting Partner. That's it!
Nominees will be notified on July 30th of their nomination. The application will be sent with the notification of nomination.
What information is needed?
The application form will ask for:
- Contact information
- Company’s conformance to RedHawk50 qualifications (company age, minimum revenue, Miami former student ownership/leadership, and adherence to Miami Code of Honor).
- Revenue levels for the previous three years.
Can nonprofits apply?
The company must be privately held, for-profit, and independent (not a subsidiary or division of another company)
How do I know if a/my company is eligible for the RedHawk50?
If you know of a Miamian-owned or Miamian-led business that may meet the criteria, do not hesitate to complete the nomination form. Miami will send the nominee an email and they can determine whether or not they meet the criteria.
Application cost?
There is no cost associated with applying
Is there a need to reapply every year or can I do it just once and the application stays in the pool for years to come?
Yes. Previous RedHawk50 honorees will be automatically nominated, but all companies must complete the application process every year.
What does it mean to be a RedHawk company and who is listed when applying?
The Company must meet one or more of the following three criteria:
- A Miami University former student or group of former students must have owned 50% or more of the company for the timeframe being measured, or
- A Miami University former student must have served as the Company’s chief executive for the time frame being measured, or
- A Miami University former student must have founded the company and be an active member of the senior management team (i.e., Chairman, CEO, President, COO, or CFO) for the time frame being measured. RedHawk employees who hold a position in the company other than those listed above cannot
be named as a RedHawk50 Honoree.
Why should I apply?
In addition to celebrating the companies’ success, the RedHawk50 provides a forum to pass lessons on to the next generation of Miamian entrepreneurs.
How is the list determined?
Companies that meet the criteria will be asked to submit high-level financial and organizational information about the company—such as revenues, earnings, etc.— to an independent third-party public accounting firm. The independent accounting firm will evaluate and rank the candidates by the percentage of compound annual growth in revenues (net of returns), over a three-year period, i.e., use revenues for years 2020 (beginning period) and 2023 (ending period) to compute the 2024 RedHawk50. After calculations, the companies will be listed by growth rate from the highest to the lowest. The top 50 fastest-growing companies will be named to the RedHawk50.
What is “revenue”?
The percentage of compound annual growth in revenues (net of returns), over a three-year period, i.e., use revenues for years 2020 (beginning period) and 2022 (ending period) to compute the 2023 RedHawk50.
The application form says “verifiable” revenue. How do you verify revenue?
We need a way of verifying the company’s revenue levels. Some of the ways in which revenues can be verified include:
- Copy of audited, reviewed, or compiled financial statements.
- Copy of page 1 of tax return (you can block out other financial data on page 1 if you wish).
- Letter from external accountant attesting to revenue level.
If you have issues/concerns about any of these, feel free to contact us and we will work with you.
When is the list released?
The list is released at the Miami RedHawk50 Evening Gala and Awards Reception which in 2024 takes place on Friday, March 15th.
| Sponsor Level | Reception (1 Company) $25,000 | SWAG (1 Company) $25,000 | Gala Platinum $25,000+ | Gala Gold $10,000 | Gala Silver $5,000 | Gala Bronze $1,000 |
|---|---|---|---|---|---|---|
| Recognition in RedHawk50 Media Press Release | x | x | x | |||
| Recognition on RedHawk50 Website | x | x | x | x | ||
| Recognition in RedHawk50 Program | x | x | x | x | x | x |
| Sponsor Level | Reception (1 Company) $25,000 | SWAG (1 Company) $25,000 | Gala Platinum $25,000+ | Gala Gold $10,000 | Gala Silver $5,000 | Gala Bronze $1,000 |
|---|---|---|---|---|---|---|
| Verbal Recognition at RedHawk50 Reception and Awards Gala | x | x | x | |||
| Recognition on RedHawk50 Swag Bag | x | x | x | |||
| Opportunity to Include “Gift” or Logoed Item in RedHawk50 Honoree Award Bags | x | x | x | |||
| Recognition on RedHawk50 Signage | x | x | x | x | ||
| Recognition in RedHawk50 Program | Full Page Logo | Half Page Logo | Half Page Logo | Company Name | Company Name | Company Name |
| Reserved Seating at RedHawk50 Reception and Awards Gala | 16 (2 tables) | 16 (2 tables) | 16 (2 tables) | 8 (1 table) | 4 | 2 |
| Sponsor Level | Reception (1 Company) $25,000 | SWAG (1 Company) $25,000 | Gala Platinum $25,000+ | Gala Gold $10,000 | Gala Silver $5,000 | Gala Bronze $1,000 |
|---|---|---|---|---|---|---|
| Recognition on RedHawk50 Honoree Emails | x | x | x |
How can I be assured of confidentiality?
Companies that meet the criteria will be asked to submit high-level financial and organizational information about the company—such as revenues, earnings, etc.— to an independent third-party public accounting firm. The independent accounting firm will tabulate the results. They will only report the results to the Institute for Entrepreneurship. The University will not see the revenue levels reported and they will not be made available to the press or any other groups. All companies can be assured that their financial information will be kept strictly confidential and entrusted exclusively to Miami’s independent accounting partner. All documents and information will be received and safeguarded by the accounting firm to ensure and maintain the confidentiality of the information.
What information will be released?
We will publish the list of the 50 companies honored. The list will include the company name, city location, names of Miamian principals, year founded, and percentage growth rate. Actual revenue figures WILL NOT be published or otherwise released. There will be an article in The Journey - Farmer School of Business magazine which will feature a brief story on several companies. Those articles will focus on the company’s business (much like the information that can be found on the company’s website). They will not include financial or other statistical information. You may be called for an interview.
Where will the information be published?
The RedHawk50 list will be publicized in The Journey - Farmer School of Business magazine, in press releases, on our website, in Institute newsletters, and/or similar channels. Specific information about revenues will NOT be published. The only statistical information that will be released will be the percentage growth rate. You may be interviewed by The Journey magazine staff for a feature. They will only include information you provide to them in that article.
John W. Altman Institute for Entrepreneurship
Established in 1992, Miami’s Entrepreneurship program combines strong research and academic scholarship with immersive, practice-based learning opportunities for students in startup and venture capital, social entrepreneurship and impact investing, corporate innovation and technology commercialization, and creativity and entrepreneurial thinking. Distinguishing features include small class sizes and instructors with founder experience that deliver personalized learning, an interdisciplinary focus that engages students from every undergraduate major across campus, immersive, practice-based experiential learning opportunities in every class and in every co-curricular program, and integration with entrepreneurial ecosystem builders across the U.S. In short, we embed entrepreneurial thinking in every major—from business, science, engineering, and technology to the humanities and the arts.
