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Deloitte Technology Fast 50 Central Europe 2017 Powerful Connections Deloitte Technology Fast 50 Central Europe 2017 Technology Fast 50 2017 CENTRAL EUROPE Powerful Connections 50 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections 2 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections Welcome to the Deloitte Technology Fast 50 Central Europe 2017 The Deloitte Technology Fast 50 in Central Europe Technology companies are invited to self-nominate is a programme that recognises and profiles fast for the programme via our website. Financial data of growing technology companies in the region. the companies are provided by the entrants themselves The programme, which is now in its 18th year, ranks and is gathered via our online survey tool. This information the 50 fastest growing public or private technology is then cross-checked using each company’s financial companies. statements which have been verified by their accountants or a registered auditor. The Technology Fast 50 award winners for 2017 are determined based on the revenue growth over four The Deloitte Technology Fast 50 in Central Europe is part years (2013 to 2016). Revenue growth is calculated in of Deloitte’s global Fast 500 programme. For further local currency. Companies must meet a minimum annual information regarding the Deloitte Technology Fast 50 revenue threshold of € 50.000 in order to qualify. Exchange in Central Europe, please visit our website: rates are based on the annual average given by the central www.deloitte.com/cefast50. bank of the company’s respective national currency. Companies active in the following industry sectors are eligible: • IT & Digital Solutions, • Internet, Media & Telecom, • Biotech, Nanotech, Medtech, • Clean Tech & Energy. 3 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections 4 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections Contents Thoughts from the Programme Leader 7 CEO’s insight 9 2017 Technology Fast 50 ranking 11 Big 5 awards 43 Rising Star awards 51 Most Disruptive Innovation: winner 61 Most Disruptive Innovation: special recognition 67 Contacts 74 5 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections This is the second year that we have run the ‘Most Disruptive Innovation’ (MDI) award. This is a particularly significant and exciting initiative for us – it’s a unique way of marking out for special distinction those companies that we think will be the technology leaders of tomorrow with the greatest potential for revolutionising their markets. 6 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections Thoughts from the Programme Leader Deloitte Technology Fast 50 in Central Europe reveals This year’s MDI winner is Serbia-based heating and the depth and scope of innovation across our region, ventilation technology business DADANCO Europe, driven by many of the dynamic, inspiring young which is already taking its market by storm – see page 61 companies that in time will form our economic bedrock. for full details of how it’s poised to introduce a practical means of slashing energy consumption in urban I find many things about the participants impressive. For environments across the world. example, the average growth rate of the companies in this year’s ranking has exceeded last year’s outstanding The quality of entrants was so high in 2017 that we’ve 1,057 per cent to hit 1,127 per cent. I’m particularly had to recognise another company too, which would proud to see that once again the clear majority doubtless have been the winner in any other years. So (68 per cent) of companies featured in the ranking are we are also giving a special distinction to Bucharest- first-time entrants, highlighting the speed at which based UiPath, the fastest-growing robotic process our top-performing young companies are developing. automation vendor in the world (see page 67 for further Just as pleasing, all the top five companies ‘graduated’ information). from 2016’s Rising Stars category, which recognises those high-growth businesses too young to be listed in Our heartfelt congratulations go to all companies in the main Fast 50. This bodes well for the future of our every category – you’re setting standards of excellence region. in innovation that cannot fail to inspire others. I believe that every reader will find something to inspire and This year we publish the 18th annual edition of energise them in the stories of all these vibrant world- the report. I find it remarkable that around half of changing companies. companies in this year’s ranking already develop their operations or explore entrance possibilities in countries outside Central Europe. The export of technology is an optimistic prognostic for the region. Also with a view to the future, this is the second year Agnieszka Zielińska that we have run the ‘Most Disruptive Innovation’ (MDI) Partner, Financial Advisory Services award. This is a particularly significant and exciting Central European Fast 50 Programme Leader initiative for us – it’s a unique way of marking out for Deloitte special distinction those companies that we think will be the technology leaders of tomorrow with the greatest potential for revolutionising their markets. 7 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections Whether large, small, public or private, emerging growth companies are powering innovation in the broader economy and the examples in this report are a best in class display of cutting edge businesses who are transforming the way we do business here in Central Europe. 8 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections CEO’s insight Excitement and inspiration The combination of technological innovation, Deloitte has been honouring the fastest-growing entrepreneurship, and rapid growth displayed by technology companies in Central Europe for nearly the companies recognized in all four categories of this 20 years. We understand that it takes foresight, year’s Fast 50 Central Europe report is astounding. dedication and a relentlessness to innovate in order Year on year, I am excited to witness the innovation and to join this elite group, and I am eager to see what enthusiasm these diverse companies are able to display might be next for every company recognized in our as they disrupt the tech industry across Central Europe. 2017 edition of the CE Fast 50. My particular congratulations go to our winners: Kiwi.com s.r.o. (Fast 50), CGTrader, UAB (Rising Stars), ZOOT a.s. (Big 5) and Dadanco Europe (Most Disruptive Innovation). Being recognized as a Technology Fast 50 winner Alastair Teare provides increased visibility, brand recognition, and Chief Executive Officer growth opportunities to these fast growing companies. Deloitte Central Europe Whether large, small, public or private, emerging growth companies are powering innovation in the broader economy and the examples in this report are a best in class display of cutting edge businesses who are transforming the way we do business here in Central Europe. The impact of the Fast 50 programme extends far beyond Central Europe. All participating companies that meet the programme’s criteria (not only those that make the top 50) also have the opportunity to be recognised in our Europe, Middle East and Africa (EMEA) Fast 500 ranking. Alongside Deloitte’s US and Asia Pacific Fast 500 initiatives, this will bring them local, national, global, and social media exposure. 9 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections 10 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections 2017 Technology Fast 50 ranking Criteria for 2017 Technology Fast 50 Companies must meet a number of criteria to be considered eligible for the main CE Fast 50 ranking: • Annual revenues of at least €50,000 in each year between 2013 and 2016. • Develop or manufacture proprietary technologies or spend a significant amount of capital on R&D. • Have an ownership structure that excludes majority-owned subsidiaries of strategic entities. • Headquarters in a Central European country (Albania, Bulgaria, Bosnia & Herzegovina, Croatia, the Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia or Slovenia). • Winners are then selected by ranking their revenue growth over the four years from 2013 to 2016. 11 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections Companies broken down Estonia: 1 Fast 50 overview by countries Latvia: 1 Clean Tech & Energy IT & Digital Solutions 10 Lithuania: 6 39 Internet, Media & Telecom 1 Poland: 19 Average growth Czech Republic: 5 1127% Slovakia: 2 34 7 Hungary: 2 9 Romania: 3 NEW UP DOWN Croatia: 8 Bosnia and Herzegovina: 1 Bulgaria: 2 Most companies founded in 2012 12 Companies broken down Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections Estonia: 1 by countries Latvia: 1 Clean Tech & Energy IT & Digital Solutions 10 Lithuania: 6 39 Internet, Media & Telecom 1 Poland: 19 Average growth Czech Republic: 5 1127% Slovakia: 2 34 7 Hungary: 2 9 Romania: 3 NEW UP DOWN Croatia: 8 Bosnia and Herzegovina: 1 Bulgaria: 2 Most companies founded in 2012 13 Deloitte Technology Fast 50 Central Europe 2017 | Powerful Connections All it took was one trip – and a new business idea was born Kiwi.com: 1st place in the Technology Fast 50 ranking in Central Europe It was always going to succeed: the Kiwi.com algorithm takes all the effort and much of the expense out of planning and buying plane journeys – cutting out days of painstaking research and calculation, and often slashing prices to a fraction of the headline cost. So it’s little wonder that Kiwi.com is Central Europe’s fastest- growing technology business. If any start-up has a chance to succeed, then But all the tickets offered via search But the idea had clear added value – it is almost certain to be one that manages engines are too expensive. Oliver therefore because, unlike the competition, Kiwi.com to perfect something we deal with on has to carry out a complex series of also started searching for the cheapest a regular basis – such as cutting costs when calculations involving a wide range of airline flights among offers from low-cost airlines buying airline tickets.
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