Two Serbian companies - HTEC and Mainstream among the 50 fastest growing technology companies in Central Europe

Key insights

The pace of change among Central Europe’s fastest-growing technology companies is rapid and relentless. Three out of the top five places in the 2015 Deloitte CE Technology Fast 50 report, which ranks the companies showing the strongest revenue growth rate between 2011 and 2014, are new entries to the listing, including those in the first two places. However, the average growth rate of all companies in the Fast 50 has fallen from 698% to 560% over the last year, continuing the slide since the peak reached in 2012 of 1,026%.

Top place in this year’s ranking goes to Czech software company Simplity, with its four-year revenue growth rate of 1971%. Interestingly, Simplity was sixth in last year’s Rising Star category, when it was still too young to feature in the Fast 50 ranking itself. Next is secure mobile payments company Skycash Poland with 1,665%, while third place goes to last year’s overall leader, Hungarian online real estate business Szallas.hu.

Serbian companies 

Serbian IT company High Tech Engineering Center llc is in the seventh place on this year's list with four-year revenue growth of 962%. HTEC is an engineering services company that provides complete technology solutions based on advanced software and custom electronics development. Company has two development centers in Serbia and employs carefully chosen teams of the best engineers in the region.

“Basically it comes down to two things. People and Trust. We try very hard not to make compromises when hiring, so in the end the leading cause of employee satisfaction is other employees. This then becomes HTEC’s main growth engine. Trust comes down to being transparent and not being afraid to go the extra mile for each client while exploring the new areas of today’s technology”, said Aleksandar Čabrilo, CEO, High Tech Engineering Center d.o.o. Beograd.

In the 16th place is Mainstream, making a four-year income growth of 555%. Mainstream provides premium hosting services to large clients with high standards by taking around-the-clock operational responsibility for hosted applications, websites and cloud colocation. Serving 10+ million people every day.

“Our experience has proven that rankings and award schemes are critical moments after which firms improve their work and self-esteem. Most importantly, they gain critical insight into their achievements. We are all inclined to praise ourselves about our accomplishments without transparently comparing our success with our peer group. We believe that the Fast 50 Ranking will give us an insight into the accomplishments of others, which will additionally motivate us to raise the bar even higher in years to come”, said Boško Radivojević and Ljubiša Radivojević, CEOs, Mainstream d.o.o. Beograd.

Special categories

The Rising Stars awards go to those companies that are too young to feature in the main Fast 50 report, but have recorded such spectacular growth rates over the last three years that they are almost certain to be included soon. The overall winner this year is Polish software company Codewise, whose astonishing 4,555% growth rate over the last three years is not far off double the 2,506% recorded by fellow Polish software business CodiLime. Third place goes to Croatian software agency Axilis (464%).

The Big Five category rewards those companies that, although fast-growing in their own right, are too large to compete directly on revenue growth terms with smaller businesses in the Fast 50. It is headed this year by Romanian software company Insoft Development & Consulting (577%), which is also 15^th in the main ranking. Lithuanian e-commerce business UAB “Pigu” (235%) comes second, and Slovakian software company ESET (223%) is third. 

Deloitte Technology Fast 50 in Central Europe Archive

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