The Fast 50, in its 18th year of competition, attracted around 40 entrants from the lower South Island, from Oamaru to Te Anau and Queenstown and down to Invercargill, with the winners announced last night at Dunedin's Toitu museum.
Deloitte private partner Daniel Hellyer said the index did not just rank New Zealand's 50 fastest-growing businesses but also celebrated business successes, both regionally and nationally.
The percentage of growth, used to measure companies' success, will be revealed at the national finals.
``These [lower South Island] winners are a good indication of things that are happening in Dunedin and around the region, in tourism and in Central Otago where there's great positivity around,'' Mr Hellyer said in an interview.
All regional finalists will be taken to Auckland for the national final on November 14 while technology businesses on the Fast 50 can also be nominated for the Deloitte Technology Fast 50 Asia-Pacific index, which will be announced in Hong Kong in December.
He said the Masters of Growth division, only in its second year, was for more mature companies which may have been operating for many years but who were in a cycle experiencing greater growth opportunities.
After last night's awards, Mr Hellyer said the results demonstrated there was a diverse range of businesses across the country ``achieving outstanding growth''
In Auckland and the upper North Island there were seven winners, in the central North Island eight winners, and seven each in Wellington and the lower North Island and in Christchurch and the upper South Island.
Each area also had businesses which were listed in ``one to watch'' categories, as opposed to outright winners
Entrants must be New Zealand registered companies, have been in business for at least three years, have had operating revenue of around a minimum $500,000 and have a full set of audited accounts for the past three financial years.
Last year's top five fastest growing companies were Bay of Plenty builders ZB Homes, with revenue growth of 1583% over three years; digital money lender Moola.co.nz with 1013%; educational consultant Crimson Education, 1005%; online payments company Pushpay, 914%; and environmentally-friendly painter Carus Group, up 718%.
