7 Croatian Companies Among 50 Fastest Growing in Central Europe

Lauren Simmonds

A total of seven Croatian technology companies competed in the Deloitte Competition of the 50 fastest growing companies in Central Europe this year, six of which are in the main category and one of which is in the Most Disruptive Innovation category, as Poslovni Dnevnik writes on the 18th of October, 2019.

This year, which is otherwise the twentieth edition of the Deloitte Competition of the 50 Fastest Growing Central European Technology Companies, saw the attendance of companies from across eighteen European countries: Albania, Bosnia and Herzegovina, Bulgaria, Montenegro, Czech Republic, Estonia, Croatia, Kosovo, Lithuania, Latvia, Hungary, Macedonia, Moldova, Poland, Romania, Slovakia, Slovenia and Serbia.

In the main category, known as the Technology Fast 50, among the 50 fastest growing technology companies, this year saw the placement of 37 new companies for the first time, and it became clear that the region is the focus of innovative and creative young companies who are shaping the future.

Of these, four companies were ranked as Rising Stars last year (a special category for fast-growing companies that are not yet mature enough to be included in the Fast 50 main category). This also points to the good health of the technology sector within the region, as start-up companies have seen significant growth and become established fast-growing technology companies in just a few years.

The report, which ranked and profiled the 50 fastest-growing technology companies in the entire region, highlighted the Lithuanian company Voltas IT as the fastest-growing, with an average growth rate of 5,734 percent over the four-year period between 2015 and 2018. Voltas IT has developed an affordable and easy-to-use automotive diagnostic system for drivers, and their accelerated growth continues as 1,000 new customers connect to their system every single day.

The second on the list are last year’s winners from Prusa Research, s.r.o., from the Czech Republic, with a growth rate of 4,527 percent. This company has definitely established itself as one of the most consistent innovative companies in the global 3D printing industry.

Third in the rankings went to another Czech company, BLINDSPOT, founded back in 2014 to develop a wide range of artificial intelligence (AI) solutions, and fourth place went to the Slovakian Itrinity, s.r.o., which provides SaaS solutions (Software as a service) for internet marketers.

The Croatian online shopping platform BAZZAR.HR’s ranked fifth with an average growth rate of 2.821 percent.

As previously stated, from here in Croatia, a total of seven companies competed this year, six of which are in the Top 50 Fastest Growing category and one in is in the Most Disruptive Innovation category.

The Croatian company Rimac Automobili has been awarded the Most Distruptive Innovation Award.

Here is how the Croatian companies were placed:

BAZZAR.HR came fifth place with growth of 2.821 percent, Q took 16th place (927 percent), Ars Futura d.o.o. took 27th place (685 percent), AG04 Innovative Solutions d.o.o. took 35th place (551 percent), Delta Reality came in 47th place (449 percent) and Agrivi d.o.o. took 50th place (432 percent).

The winner of the Most Disruptive Innovation award, the Croatian company Rimac Automobili, is otherwise the very first Croatian company to win in this category. Rimac Automobili has been participating in the Deloitte Competition for four years now.

In the main category of the 50 fastest growing companies, as we have already stated, the best placement was achieved by the Croatian online shopping platform BAZZAR.HR which took fifth place, followed by Q and Ars Futura, who were also placed on the main list last year, while AG04 Innovative Solutions d.o.o., Delta Reality and Agrivi d.o.o. made their first appeatance on Deloitte’s impressive list this year.

Mae sure to follow our dedicated business and Made in Croatia pages for much more.


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