- The best time to start up is now!
- Awakening the Tatra Tiger through innovation
- The unique features of entrepreneurship in Slovakia
- Putting female entrepreneurs in the spotlight
- A new generation of entrepreneurial leaders rises in CEE
- Embracing entrepreneurship internally & externally
- English language skills test invented by Slovaks goes global
- FinTech & innovation in financial services – cooperation is the way forward
- Waiting for one global success story
- Supporting SMEs: all quiet on the front?
- AmCham´s Digital Committee
Situated in the heart of Europe, with a remarkable transition from
stagnating socialism to a growing economy under democracy, lies a young
country full of bright individuals with innovative ideas. Being part of
the Eurozone, with a developed infrastructure and a pool of skilled
labor force, Slovakia has thus far been a magnet for foreign investment.
As a consequence, Slovakia’s economy has been booming.
The power of entrepreneurship and start-ups is often defined in the public imagination by Silicon Valley and its tech denizens. Silicon Valley inspires us with the power of entrepreneurship: the basic notion that if you have a great idea, work hard, work smart, and persevere, you can turn your idea into a successful business.
Individual entrepreneurs form a dynamic and stable sector of the Slovak economy. PwC conducted a survey of Slovak entrepreneurs* to find out more about their business prospects in Slovakia. Individual private businesses around the world have their own specifics and the most important factors are often trust, loyalty, financing and succession. Decision-making can be a very different matter when your own money is at stake.
Lack of institutional support, a challenging business environment, excessive administrative burden and access to finance constitute the biggest challenges for women entrepreneurs in Slovakia. Only 29% of entrepreneurs are women, around 100 000 in total, which represents only 2% of the country’s population.
The majority of today’s global challenges have one thing in common: their cause. What on the surface appears to be due to diverse superficial issues has a common denominator – a lack of leadership.
You see things; you say, “Why?” But I dream things that never were; and I say “Why not?” – George Bernard Shaw
A Slovak online start-up, TrackTest, launched in 2012 in Svätý Jur – a small town near Bratislava, now has 35,000 registered users worldwide and is selling its products to customers in 70 countries around the world.
A problem for banks (and other financial services companies) in the post-crisis years has been that more channels are expected to be covered in a shorter time with more regulation, higher customer expectations and competition from newcomers from outside the industry. The solution? Innovate and cooperate.
Ivan Štefunko is a man who knows the Slovak startup scene from various perspectives. He jokingly called himself “the grandpa” but the truth is, that in the eyes of many he personifies the local startup scene and its journey from non-existence to its current lively state. Of course, the local ecosystem still faces challenges which may decide its future development. We touched some of these in this brief interview.
In today’s global economy, external and internal factors have a huge impact on small and medium-sized enterprises (SMEs). If SMEs are to play the same role in Slovakia as in the rest of the developed world, i.e. contribute to increased momentum in the economy, there first has to be an appropriate legislative environment. The basic preconditions were recently laid down in a new draft act adopted by the Slovak government on support for SMEs.
The AmCham Digital Committee is the latest addition to AmCham’s policy activities. Its official launch in 2015 was a reaction to the growing importance of the digital agenda which is currently also one of the hottest topics shaping the discussion at the European level. The Digital Committee will strive to use the expertise of its members to contribute to the about digital-related issues in Slovakia. The reasons leading to the creation of this committee, as well as its focus and current agenda are introduced by its Chair, Filip Šváb of AT&T.