I recently attended an information technology conference in Warsaw, Poland. In Poland the information technology industry has been steadily growing. The ministry of economics seeks to draw attention to the innovations and success of this industry. Our host took us to visit the headquarters of several companies and encouraged several executives to speak with our group.
On the first day the conference started very strong with a visit to the headquarters of Asseco Poland. I learned that Asseco Poland is one of the largest software companies in Eastern Europe. The structure of the Asseco group was described to us in great detail. The more I listened, the more I admired Asseco.
Asseco works to build a base in developing markets. Asseco absorbs a company in an emerging market and then provides solutions specific to the unique needs of the market. They work to open up other sectors in these markets. Asseco has experience providing software to every sector in a market. In Poland Asseco software is used in over half the hospitals and banks. A third of the transactions on the Polish stock market are complete with software developed by Asseco. Asseco software is even present in the energy sector.
During the conference we visited a unique start up company. Laboratorium EE described themselves as a for profit social enterprise. They said their mission is to bring positive social change through technology and cooperation. Our group was impressed with their projects for the Polish national library.
Our group listened to presentations from Polish information technology experts. We heard about the Polish market. We listened to current problems and solutions specific to the Polish information technology industry.
Poland is the second largest information technology market in Central Europe. Poland is one of the best European markets to invest in. Seventy percent of Polish exports go to other European countries. It is expensive for Polish companies to get into foreign markets. Many global markets are mature and overloaded.
These experts recommend that Polish companies cooperate with local companies to get access to foreign markets. If possible develop and market a unique product. It can be advantageous to find a product that compliments yours and work with that products owner to sell both products together. It may be worth the expense to do business in Silicon Valley. About a third of all information technology investments world wide are in the United States. Half of those are in Silicon Valley. Working there can provide opportunities that are not available elsewhere.
The Polish information technology industry is growing very quickly. With the support of the Polish government it will continue to prosper. No doubt this industry is key to economic growth. Hopefully by implementing some of the strategies here Polish companies will face and solve any challenges before them.
By Peter A. Kaffenberger