Mobile and social game developer Funzio can celebrate another milestone because, having recently seen its mobile game Crime City hit 1 million downloads in only five days on the iOS App Store, - plus having over 7 million players on Facebook - it's now won more accolades.

It's the only gaming company to feature in the Dow Jones VentureWire FASTech 50 list of the most innovative technology startups.

Innovation as standard

"Venture capitalists are always searching for startups that are developing truly original technology with the potential to transform the marketplace," said Scott Austin, editor of Dow Jones VentureWire.

"The FASTech 50 cuts through the clutter of me-too startups to highlight companies developing the most innovative and investment-worthy technologies."

Funzio CEO Ken Chiu outlined his thoughts.

"We're honoured to be selected as the most innovative gaming startup," he said.

"Our first game Crime City instantly became a huge hit, and it continues to top the charts and have millions of monthly players. We can't wait to release more high quality games that people love playing on mobile, Facebook and Google+."

You can view the full list of entries at the VentureWire's FASTech 50.