Seven Croatian Companies on List of Fastest Growing in Central Europe

Lauren Simmonds

More Croatian companies go from strength to strength!

As Poslovni Dnevnik writes on the 12th of October, 2018, seven Croatian companies have found themselves on Deloitte’s list of the 50 fastest growing technology companies in Central Europe for 2018, with third place being taken by the software company Q Software, while the Croatian company Include is the winner in the category of “rising stars”, Deloitte reported on Friday.

This is a list by Deloitte compiled on the basis of reports from companies from across the Central European region, whereby the Zagreb office and consulting company point out that the growth of Central European technology company revenues are continuing to accelerate and reach new records of 1.290 percent.

“This is the third year in a row in which the average growth was higher than 1.000 percent, eliminating any doubts when it comes to the outstanding results of previous years, it also highlights the sustainability of the current boom in the technology sector in Central Europe,” said Deloitte.

The list includes companies from ten countries, boasting eight companies from the Republic of Croatia, of which seven fall into the category of the 50 fastest growing, and one in the rising category of ”rising stars”.

In the category of 50 fastest-growing, best-placed Croatian companies, Q Software came third in terms of their growth of 3.894 percent, followed by Ars Futura with 914 percent growth. Microblink is ranked 14th with 702 percent growth, Rimac Automobili 36th with 361 percent growth, Infinum 40th with 315 percent growth, Telum 41st with 313 percent growth, and Proficos 47th with growth of 272 percent.

Otherwise, Proficos is ranked second in the list of the 50 fastest growing companies, for Rimac Automobili and Telum, this is their third placement, and Deloitte says that for Infinum, it can be said that they are already the ”legends of the competition” with their fifth placement on this prestigious list in the last six years.

The Croatian company Include, which manufactures solar panels, is the winner of the ”rising star” category. It is also the first Croatian company to win in this category and has recorded a 1.9 percent increase in revenue.

Young companies with growth potential but which have operating for less than four years find themselves in the ”rising star” category, and four years of operation is the minimum threshold for entry into the category of the 50 fastest growing companies, for which this year’s scale is based on an analysis of revenues realised during the period between 2014 and 2017.

The first two companies on the list of the 50 fastest growing in Central Europe come from the Czech Republic – the first company specialises in 3D print Prus Research with an incredible revenue growth of over 17,000 percent, and the second is the online booking company, with equally impressive growth of over 14,000 percent. These two companies were at the very top of the list last year, as is the last year’s winner, while Prusa Research took third place.

Slido, the Slovakian software firm, is an interactive meeting and event platform with growth of almost 3.000 percent, and the fifth is the Czech company Pilules, a retail pharmacy with a growth of 1.681 percent, which is also on this year’s list.

At the very top of the list of the 50 fastest growing companies are technology companies from ten Central European countries, eighteen from Poland, eight from Lithuania, seven from Croatia and the Czech Republic, three from Slovakia, two from Hungary and Latvia, and one from Bosnia and Herzegovina, Estonia, and Romania.

In the group of the five largest fast-growing big companies, this year’s winner is the Czech ZOOT fashion and footwear retailer, which has revenue growth of 513 percent. With 415 percent growth in revenue, the Polish marketing and retargeting business, RTB House comes second, and third place is taken by the Latvian Booking Group for online car rental, with a 271 percent increase in revenue.

The 3rd MDI (Most Disruptive Innovation) Award was taken by Lithuania’s Brolis Semiconductors, a highly innovative company which uses advanced infrared photon technology to develop new types of sensors that can process critical blood readings without ever actually breaking the skin.

This year, the Social Innovation Award was launched for companies that contribute their products or services to the achievement of at least one of the UN’s 2030 sustainable development Goals (SDGs). The first winner of this award was the Polish company Saule Technologies, which has developed a new generation of solar panels made from thin, flexible foil that can be physically wrapped around a building.


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