Earlier this month, the US Pan Asian American Chamber of Commerce Education Foundation (USPAACC) recognized 50 outstanding Asian American businesses as part of its annual awards at CelebrAsian 2012, held in Bethesda, MD. Among this year’s recipients were companies from all types of industries—supply chain management, healthcare, food wholesale, IT, environmental, media, green energy, professional staffing, and technology. Actiontec, a leader in high speed Internet modems and routers, and Ameredia, a multicultural advertising, marketing and public relations firm, were two of the recipients.

In order to qualify for this award, companies have to be owned and managed by one or more Asian Americans and have “at least $1 million in annual revenue in the immediate past 3 fiscal years of operation,” according to Yahoo News. In total, the 50 companies who received awards generated over $4 billion in revenue over the past year, and the companies reported up to a staggering 400% growth rate.  Companies are selected based on percentage revenue growth over the past three years.

“USPAACC is proud to recognize and showcase the continued robust and steady growth shown by Asian American-owned businesses across industries amid challenging economic times,” Susan Au Allen, National President and CEO of USPAACC said in a press release.  “We congratulate our Fast 50 Asian American Businesses—proof positive that through innovation, hard work, and ingenuity, Asian Americans can lead the way as catalysts to the revitalization of our national economy.”

Over 600 people attended the conference June 4-6 at the Marriott Bethesda North Hotel & Conference Center.

USPAACC was founded in 1984 as a non-profit and non-partisan organization with a mission to “be the gateway to corporate and government contracts, Asian American (includes East, South and Southeast Asian and Pacific Islander) suppliers, information about Asian Americans and Indian Subcontinent markets.” It is headquartered in Washington, DC.