Deloitte: NNG shows how Hungarian startups can conquer the world
Amid preparations for the latest Deloitte’s “Technology Fast 50 Central Europe” list, the Big Four consultant has highlighted Hungarian navigation software company NNG as an example of how startups based here can propel themselves onto the world stage by utilizing sound management strategies and creativity.
Four years after its founding, NNG appeared on Deloitte’s “Technology Fast 50 Central Europe” list. The first real boost to the company’s popularity came in 2006, when the company appeared at CeBIT, one of Europe’s largest digitalization conferences.
NNG’s CFO István Nagy highlighted the benefits of starting the company in Hungary. “We thought of starting in Hungary, a rather small market, as an advantage rather than a drawback,” he says.
“Technology is created by people, and the knowledge of Hungarian engineers is extraordinary, their creativity and professional knowledge mean a serious head start in the competition. Furthermore, as we are talking about a small market, we always have to come up with creative solutions all the time, leading to a high degree of flexibility. Our big competitors from the West are less characterized by technological independence and flexibility than us.”
Having built its initial success via personal navigation devices, NNG took the important strategic decision to shift its focus to servicing the auto industry.
“One of the most important elements of our success is the timely recognition of the market’s needs and trends, and the development of strategies, with these taken into account. The team, the founders, and the management all play a key role in this. If these conditions are given, the other factors sort themselves out. Of course, a bit of luck is also needed to make good decisions in the right place at the right time.”
Balázs Csűrös, Deloitte Hungary’s partner responsible for the “Technology Fast 50 Central Europe” program says: “Hungarian companies like Tresorit, Starschema and Solvo Biotechnology have also appeared alongside NNG in Deloitte’s ‘Technology Fast 50 Central Europe’ rankings. Their example shows that with creativity and perseverance, even startups from Hungary can achieve international success. One of the goals of our Fast 50 program is to direct attention at innovative companies, and I am certain that in the upcoming years, we will see a number of Hungarian success stories akin to that of NNG and the other mentioned companies.”
Application is open for this year’s “Technology Fast 50 Central Europe” contest until July 31 at Deloitte’s website. The ranking will be presented on October 11.
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