Source: eKapija | Tuesday, 25.10.2016.| 11:29
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Serbian company HTEC among 50 fastest growing technological companies in Central Europe

(Photo: Konstantin Chagin/shutterstock.com)
The Serbian company High Tech Engineering Center has placed among the 50 fastest growing technological companies in Central Europe (Deloitte CE Technology Fast 50) for the third time in a row, placing 9th at the list with a five-year growth of revenues of 1109%, as reported by the consulting and auditing company Deloitte. The average growth rate of the fastest growing Central European companies on the list has almost doubled compared to last year and is 1057%.

Aleksandar Cabrilo, director of the company High Tech Engineering Center, said that “the most quality people in the local IT market stand behind this award”.

– The main reason for their satisfaction is other employees, with whom they successfully create modern technological solutions. HTEC is proud to be the only Serbian company to place on the CE Fast 50 List for the third time in a row and will accordingly continue to create the environment enabling all its employees to grow – Cabrilo said.

The Technology Fast 50 project has been carried out in Serbia for nine years in a row, whereas, on the territory of Central Europe, it has been implemented for 17 years. This year's list contains companies from 11 CE countries (Serbia, Poland, Hungary, Romania, Croatia, Slovenia, Bosnia and Herzegovina, the Czech Republic, Lithuania, Slovakia and Bulgaria).

In addition to the Technology Fast 50 list, Deloitte publishes the Rising Stars list, ranking companies which are too young and do not meet the requirements for the main category, as well as the Big 5 list. The requirement for placing on the Fast 50 list is for the companies to have had revenues of more than EUR 50,000 in the previous four years, whereas the Rising Star lists requires companies to have had EUR 30,000 and more in revenues in the previous three years. The requirements for the Big 5 list are the same as for the Fast 50 list, with an additional requirement of having more than EUR 25 million of annual income in the last year observed (2015).

This year's winner in the category of the 50 fastest growing technological companies is the Polish company Codewise Sp. z.o.o. Sp. K., which provides internet marketing and business software solutions, with a four-year growth of revenues of 13052% (2012-2015). The company has also placed first on the Big 5 list. The Lithuanian smart device company Deeper is the first on the Rising Stars list, with a three-year growth of revenues of 3631%.

A new category was introduced this year – Most Disruptive Innovation. The prize is awarded to the business entity which doesn't need to rank, but stands out thanks to its concepts and technologies. Poland's HiProMine is the first ever winner of this award. The company implements an insect-based technology for waste management and production of food and animal feed.

Most fast growing companies continue to come from Poland, with 17 of them on the list. The Czech Republic has 7 companies on the list, Croatia has 6, and Hungary and Romania have 4 companies each.

This year, the list mostly consisted of IT and digital solution companies (41), whereas other technological segments were represented to a considerably lesser extent.

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