Software companies dominate the Deloitte 2019 Central Europe Technology Fast 50 ranking, with 31 entries in this year’s competition from eight countries. The media and entertainment field is the second best represented in the ranking, with ten companies, while the hardware and the fintech sectors bring nine entrants together. This year, Lithuanian software company Voltas IT leads the charge in the main ranking with 5,734% growth in revenues between 2015 and 2018.

With nine countries represented in the main ranking, the companies included in Deloitte 2019 CE Technology Fast 50 registered an average growth of 1,129% between 2015 and 2018. This is the fourth consecutive year that the average growth rate has broken through the 1,000% mark, a result that underlines the sustainability of the technology industry in Central Europe.

This year’s winner, Voltas IT, a company founded in 2014, has developed an affordable and easy-to-use automotive diagnostics system for drivers to use every day. The following two places of the 2019 Technology Fast 50 ranking are occupied by two Czech businesses, Prusa Research, one of the most consistently innovative companies in the global 3D printing industry and last year’s winner, with a growth rate of 4,527%, and BLINDSPOT, a developer of customized solutions using Artificial Intelligence (AI), scoring a growth of 4,445%.

“This edition of the Technology Fast 50 programme brings high and valuable understanding about the evolution of the Central European tech ecosystem and hints about the market in the years to come. The powerful representation of software businesses in the ranking mainly originates from traditionally well-anchored countries in the technology field – The Czech Republic, Hungary, Poland. This year, we also distinguish smaller countries in the region – Estonia, Bosnia and Herzegovina or Slovakia -, which suggests that new technology powerhouses may be on the rise in the Central European area,” said Dinu Bumbăcea, Consulting Partner-in-charge, Deloitte Romania.