ICT Cortex – cluster for information technology, innovation, education, design, and technological development of Montenegro, analyzed the business results of the 30 most successful IT companies in Montenegro, and as the criteria for ranking success, the amount of revenue in 2020 was taken.
The total revenues of the analyzed companies in 2020 amounted to € 56,256,439, which is 18% more than in the previous year, while the total profit doubled in comparison to 2019 and amounted to € 10,916,675.
Special attention was paid to the results of 10 founding members of ICT Cortex: Alicorn, Amplitudo, Bild Studio, Codeus, Codingo, Coinis, Data Design, Fleka, Logate, and Oykos Development, which successfully closed the business year with growth in all segments.
ICT cluster members achieved revenue growth of 25%, of which 79.12% of revenue generated was exports – a total of € 12,183,955.99.
“For now, the IT sector is successfully resisting the crisis caused by the coronavirus pandemic, and our goal is to create conditions for the IT sector to become the backbone of Montenegro’s future development and a strong economic activity that will create leading export products. We are proud of the business results of our founding members, and we are especially pleased with the fact that IT exports in 2020 increased by almost 30%. The outcome of the analysis confirms that IT is a promising branch, export-oriented, and further investment in IT can certainly provide an incentive to recover and strengthen the entire economy. – said Tanja Dukić, Marketing Director of ICT Cortex.
The number of employees in the companies in 2020 was 704, of which 278 people are employed the founding members of ICT Cortex, which plan to create over 100 jobs by the end of 2021.
“IT companies have increased the number of employees compared to 2019, and the growth trend is expected this year as well because companies need to hire new staff. As an inclusive association, we aim to unite the IT community and jointly achieve an increase in the number of employees and the necessary skills for the development of the IT sector, which will ultimately reduce the outflow of talent from Montenegro. ” – adds Dukić.
It is expected that 2021 will be very successful. According to a survey conducted by the executive office of ICT Cortex among the founding members, the planned revenue growth in 2021 will be about 30%, of which as much as 80% will be generated on the basis of projects for foreign markets.
ICT Cortex is an association that brings together the innovative IT community, with the aim of being a leader in the digital transformation of the economy and public administration, as well as improving the framework and ecosystem necessary to ensure digital innovation in industry and education.
“The cluster has 11 members so far, and we are pleased that many IT companies have already expressed a desire to become part of the ICT Cortex family. We invite all interested companies and organizations to join us, and the request for joining can be sent to the email address contact@ictcortex.me “- conclude from the ICT cluster Cortex.
