CEE Tech Growth Continues: Poland and the Czech Republic Lead the Way

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Poland is Central and Eastern Europe’s leader in technology, with 19 companies ranked in the Deloitte Technology Fast 50 Central Europe 2017 report. The speed of growth among Central Europe’s technology companies continues to accelerate, with the average hitting a new record of 1,127 per cent, the report says.

First place goes to Czech online flight-booking business Kiwi.com, followed by Deeper, a Lithuanian smart sports technology business. The final place on the podium goes again to a Czech outfit, the 3D printing company Prusa Research.

“The combination of technological innovation, entrepreneurship, and rapid growth is astounding,” says Alastair Teare, chief executive officer of Deloitte Central Europe. “Whether large, small, public or private, emerging market companies are powering innovation in the broader economy and the examples in this report are a best in class display of cutting-edge businesses transforming the way we do business here in Central Europe”,

According to the report, the Fast 50 was once again dominated by companies from the IT and Digital Solutions sector. There were 10 entrants from the Internet, Media and Telecom sector, and just one from Clean Tech and Energy. There were no entrants, however, this year from Biotech, Nanotech and Medtech.

“One of the most pleasing aspects of this year’s ranking is the number of companies in it that have ambitions to grow outside our region,” adds Agnieszka Zielińska, Technology Fast 50 programme leader at Deloitte Central Europe. “The overall winner, Kiwi.com, heads that list with its objectives of becoming a world leader — and many others have similar ambitions, already having clients, customers, offices and employees in markets across Western Europe and North America.”

Considering the increasing number of young companies, Deloitte has created a Rising Stars category, a separate index for companies who have been around for just three years or less. This year’s winner is Lithuanian 3D-model marketplace CGTrader.

Another category is The Big Five, for the fastest growing larger companies whose scale makes it difficult for them to compete in revenue growth with smaller businesses in the Fast 50 itself. Again, the Czech Republic takes the top spot with online and real-world fashion retailer ZOOT.

“The truly amazing thing is the incredible youth of so many of these businesses,” Ms Zielińska adds.  “This year, 68 per cent of all companies in the main list are first-time entrants: most were only founded in 2012. No one knows what the future holds, but the impetus is clearly with this dynamic new generation of entrepreneurial businesses, right across Central Europe’s tech sector.”

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Money of National Bank of Poland. Polish zloty banknote on red velvet background; Macro photo; Depth of field

Changes Are Making Ukrainian Banking More Aligned with International Standards

Chickens Blamed for Romanian Budget Deficit

Two white chickens or hens inside a chicken coop or hen house seen through chicken wire.

Georgia’s Growth Continues

Batumi, Adjara, Georgia - May 27, 2016: Batumi, Adjara, Georgia. Gogebashvili Street Road And Marine Station Or Maritime Station Building Batumi On Background

Budapest and Warsaw: Marriage of Convenience or Union of Values?

Plovdiv — an emerging outsourcing destination

Sarajevo Stock Exchange Connected to SEE Link

sarajevo stock exchange

Go East

Hungary Today: Potential and Challenge

Chain bridge on Danube river in Budapest city. Hungary. Urban landscape panorama with old buildings and domes of opera

‘Traditional Values’: A Potent Weapon Against LGBT Rights

gay rights putin

Outsourcing Sector Driving CEE Office & Graduate Demand

wroclaw office

Emerging Europe Back on Track to Convergence

wiiw

Why the Baltic States Should Reject the Nanny State

man smoking a cigarette Cigarette smoking Cigarette with smoke

Moldovan Government Hails Business-Friendly Legal Reforms; NGOs Remain Cool

Chisinau, Republic of Moldova, Eastern Europe, 29th June 2017: view to the Parliament Building in Chisinau, Moldova

Romania Can Still Provide Stability Within the EU

BUCHAREST, ROMANIA - 05 February 2017: More than 240,000 protesters in Victory Square (Piata Victoriei). "Torches" moment. At 09:00PM Romanian protesters shone torches on their phones.

Romanian Transport Infrastructure Failures Pile Up

Cernavoda Romania - June 20 2012: Construction works at the A2 highway connecting Romania's capital Bucharest to Constanta.

Slovenia Sets Green Vehicle Deadline of 2030

ljubljana

GSA Names Ukraine as UK’s Offshoring Destination of the Year

map of ukraine emerging europe

Ukraine’s Q2 Growth Climbs

kyiv ukraine emerging europe

Polish Shoppers in Hunt for Eggs

eggs in rack

GE Inaugurates Its New Bucharest Software Centre

Asian Outsource Developer Team Sitting At Desk Working Laptop Computer Mobile Application Software Real Office

Banca Transilvania Concludes Moldovan Deal

banca transilvania

IFC Invests 30 Million Euros in Ukrainian Packaging Firm

IMMER Ukrplastic

HSBC Reports CEE Growth Surge in Q3

romania national bank

Meghri Becomes Armenia’s Third FEZ

armenia emerging europe

High Real Estate Prices at Home Force Czech Investors Abroad

Construction of the Petrin lookout tower in Prague Czech Republic

CEE: Innovate or Get Eaten

innovation

World Bank: Brexit Hides Greater Challenges to the European Union and the CEE Region

Ex-Banker to Become Poland’s Next Prime Minister

Hungary Seen as Riskiest Country in CEE

risk

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