Cortex analyzes the ICT industry, achieves record numbers
Based on the ICT analysis and research conducted by CEED Consulting, we can conclude that the ICT sector is one of the fastest-growing, at least in the context of Montenegro. This is evident from the rapid increase in the number of companies involved in this activity, their impressive financial revenues, and the growing interest of people in our community in this field. ICT Cortex, a cluster with a primary focus on education, internationalization, and digital transformation, has analyzed the business performance of the Montenegrin ICT sector. The criteria for ranking success were total revenues, net results, the number of employees, and the number of companies. An important contribution to the analysis was made by the research conducted by the consulting company CEED Consulting. Additionally, BI Consulting, with its portal BInfo.me, was a significant source of data on specific industry codes. ICT Sector in Montenegro This analysis covered 1,049 companies that were part of the Montenegrin ICT sector in 2022 alone. However, to make the analysis comprehensive, the period from 2019 to 2022 was considered, tracking the trends of growth or decline in the three specific groupings of the ICT sector: IT services and products, telecommunications, and trade of IT equipment. Regarding the revenues generated in the ICT field during the previous year, the figures were more than impressive. The total revenue for the ICT sector in 2022 amounted to as much as 602 million euros, which is 23 percent higher than in 2021. The majority of the revenue comes from the telecommunications sector, followed by IT services and products, and trade of IT equipment. Net earnings have also significantly increased over the past four years, with a growth rate of 102 percent compared to 2019. Some of the companies that particularly stood out in terms of revenue in the previous period and made significant contributions to the revenue growth in the Montenegrin ICT sector are M-tel, Crnogorski Telekom, One, Kodio, Comtrade, and Coinis. Below, you can see the individual contributions of each of the mentioned areas to the information and communication technology sector. IT Services and Products Regarding the IT sector, we analyzed 725 companies actively operating in the local and international markets. The largest number of these companies are engaged in computer programming and consulting activities in the field of information technology, while specialized areas such as computer game development and software publishing are represented in a smaller number. It is worth noting that this field has seen a significant increase in the number of companies, with a growth rate of 46 percent compared to 2021 and a remarkable 109 percent compared to 2019. Companies in the IT services and products sector have made the most progress in the past four years when considering parameters such as total revenue, net results, and the number of employees. Total revenues increased by 45 percent compared to 2021, net results increased by 87 percent, and compared to 2019, the same parameter increased by an impressive 450 percent. The number of employees adequately follows the revenue growth, as indicated by the fact that over 3,400 workers have been employed in the IT products and services sector, which is 61 percent more than the previous year and a remarkable 161 percent increase compared to four years ago. When looking at the specific specialization, the largest number of companies are engaged in computer programming and IT consulting activities. Some of the companies that achieved the best results are Epam Systems Montenegro, Domen, Data Design, Čikom, and Logate. Telecommunications In the field of telecommunications, we analyzed 66 companies operating in our market. Over 60 percent of them are registered under the activity code “other telecommunications activities,” while a smaller number are involved in satellite and wireless communications, as well as cable telecommunications. Here, we have a slightly different picture compared to the IT sector. The growth rate of the number of companies over the past four years is only 1.5 percent, indicating that the telecommunications sector is relatively stable, with few changes in the number of firms in the previous period, averaging 64. Companies in the telecommunications sector have traditionally continued to generate impressive revenues. However, these revenues do not show significant fluctuations like those observed in the IT sector. The total revenue of Montenegrin companies engaged in telecommunications activities amounted to 266 million euros, which is nearly six percent higher than in 2019. Net results also did not experience significant growth, with an increase of less than 2 percent compared to 2021 and a decrease of nearly 17 percent compared to four years ago, indicating that the overall profit in this sector was significantly higher in 2019 than it is today. The three traditional telecommunications providers operating in our market, namely M-tel, Crnogorski Telekom, and ONE, achieved the best results in this field. Significant results were also achieved by companies such as Telemach, Ericsson AB, the Agency for Electronic Communications and Postal Services, and Network Communication. The total number of employees in this sector is 1,973, with as much as 65 percent of them employed in the three leading companies in the telecommunications sector (M-tel, Crnogorski Telekom, and ONE). This number is nearly 14 percent higher than in 2019. Trade of Computer Equipment Regarding the sector related to the trade of computer equipment, it should be highlighted that the total revenue in 2022 amounted to nearly 121 million euros, which is 33 percent higher than the previous year. Compared to 2019, this represents a 54 percent increase, while net profit for the same period has increased by 107 percent, reaching almost 6 million euros. The majority of companies in this field are primarily engaged in the wholesale trade of computers, computer equipment, and software, while a smaller number focus on the retail trade of telecommunications equipment, audio, and video equipment, as well as the wholesale trade of electronic and telecommunications parts. The number of employees in this sector increased by 16 percent in the previous year, reaching 664, which is a significant advancement, especially
The first ICT Cortex Football Tournament
In Podgorica, on February 25th, the first ICT Cortex Football Tournament was held in collaboration with the IT company First Line Software. The main goal of the tournament, in which five teams participated – Coinis, Studio Bild, Data Design, Telemont, and First Line Software – was to promote healthy lifestyles and connect the IT community more informally. The teams gathered around 40 players, and the tournament format involved playing one match against each other group to determine the winner based on performance. To respect the rules and provide professional refereeing, a pair of official Football Association of Montenegro referees were engaged on the field. After several relatively evenly matched matches, the best teams stood out. The first ICT Cortex football tournament winner was the Bild Studio team, with Telemont and Coinis taking second and third place, respectively. While member companies were engaged in a tense battle on the field, support was present from colleagues from competing and organizing companies and our youngest members at this tournament. Some segments that can characterize the recently held tournament are the more positive energy that characterized the teams themselves, a lot of laughter, and a profound competitive spirit that set new standards when organizing the next Cortex Football Tournament. For those who ran out of energy, Red Bull supported this event. This tournament is the first of its kind when it comes to ICT Cortex, and we would like to thank First Line Software and the “Čini dobro” Foundation for supporting the competition and contributing to its complete realization. This is just the first in a series of gatherings that we plan to organize, and we invite you to follow us on social media, where we will regularly inform you about our future activities.
High school students started a free internship within the Cortex Academy
Students of Montenegrin secondary vocational schools from Nikšić, Podgorica, Bijelo Polje, and Rožaje who actively attended training in the field of web and mobile application development as part of the Cortex Academy – an education program implemented by the cluster for information technology, innovation, education, design and technological development of Montenegro, have started a free internship in ICT Cortex member companies. As part of the practice, the students were divided into teams, within which nine students from Bijelo Polje and Podgorica, and four from Nikšić were assigned to the field of web application development, while eight students from Podgorica were active in the mobile application development segment. Namely, the students will cooperate with mentors from the companies Coinis, Fleka and Data Design until September, with the aim of improving their skills in the field of web application development, after which the final competition awaits them in September, where the best teams will be awarded. As part of the practical part of the training, participants who opted for the mobile application development segment began an internship at the company Amplitudo, and soon we are expecting the start of education at the honorary member of the ICT Cortex cluster – Crnogorski Telekom. The cooperation with secondary schools from four Montenegrin municipalities is an upgrade of last year’s successful cooperation with ETŠ “Vaso Aligrudić”, which aimed to improve the educational process, with a focus on practical teaching within the direction for the development of web and mobile applications. The participants had the opportunity to work on real projects for 7 weeks, and to create professional work habits through intensive cooperation with mentors from cluster members. We remind you that the Cortex Academy is an education program that includes courses in programming, project management, design, marketing, and software testing. In the previous months, the participants of the pieces of training in the member companies of the cluster, and through the materials available on the online platform, improved their knowledge of some of the most sought-after positions in the ICT market.
First recognition for the cluster in 2022
ICT Cortex was awarded for outstanding contribution to the development of voluntary blood donation. The ICT Cortex cluster is the recipient of an award for outstanding contribution to the development of voluntary blood donation for the year 2021, which was presented on June 14, 2022, at a ceremony on the occasion of the World Day of Voluntary Blood Donors. In just over a year of its existence, the ICT Cortex cluster, in cooperation with its member companies, and through the support of the “Čini dobro” Foundation, has implemented five voluntary blood donation campaigns. “Caring for the community in which we operate is one of the basic principles of the synergistic action of companies within the ICT Cortex cluster, and voluntary blood donation actions provide an opportunity to ensure a safer future for all citizens through a humane gesture.” – they announced from the executive office of ICT Cortex. In the future period, the socially responsible business segment of the ICT Cortex cluster will be realized through the newly created “Čini dobro” Foundation – a non-profit association that brought together successful Montenegrin companies – Amplitudo, Bild studio, Coinis, Codeus, Hipotekarna bank and UNIQA, to unitedly realize initiatives that will have a long-term effect on the entire community. “The focus of the future activities of the “Čini dobro” Foundation will be investing in healthy and progressive ideas, to empower the community through the support of projects in the field of education, support for the development of green initiatives, and the development of digital services. With the vision of becoming recognizable as initiators of changes in society, through the “Čini dobro” Foundation, we will be focused on creating measurable results, guided exclusively by philanthropic motives” – emphasized the ICT Cortex cluster. Following the growth of the IT industry in Montenegro, but also globally, the executive office of the cluster believes that through dedicated work, the Foundation “Čini dobro” will become recognized as an institution for financing and supporting great ideas and projects. For more details, visit the official website – www.cinidobro.me
Applications for Cortex academy are closed!
At exactly midnight, applications for the largest education program in the field of ICT in Montenegro were closed, with a total number of applications – 1,292. The Cortex Academy combined all the education programs of the members of the ICT Cortex cluster, and at the same time provided an additional, online form of education in five areas: programming, project management, software testing, marketing, and design. Considering a large number of applications and the different motives of Cortex Academy participants, in the next step the following groups will be distinguished: Participants of the Cortex Academy in ICT Cortex member companies Educators: Alicorn, Amplitudo, Bild studio, Coinis, Codeus, Codepixel, Data Design, Digital Bee, Logate Academy, Oykos, Omnitech, Optimus Smart Academy, Sky Sat In January, this group of participants is expected to have interviews and/or a selection task at the company that conducts the course in question. The start of education is planned for February 2022. Participants of online courses SEEKING EMPLOYMENT in the field of programming (students and seniors) This group refers to candidates seeking employment in the field of programming. After completing the online training and the selection project, which is necessary to do, candidates have the possibility of employment in companies that are members of ICT Cortex. The deadline for listening to the online course is from January to May. The first condition is to successfully meet the conditions imposed by the course itself. At the end of the course listening period, in May, these candidates will receive a practical task, the successful completion of which will be the ticket to work in companies. Participants of online courses WITHOUT SEARCHING FOR EMPLOYMENT in the field of programming (students and seniors) This group refers to participants who applied for courses in the field of programming to retrain or upgrade, without looking for employment in the field of programming. The group also applies to participants who have applied for courses in other fields: project management, design, software testing and marketing, regardless of whether they are looking for employment in those fields or not. These participants are expected to conscientiously use the opportunity for additional education and fulfill the conditions required by the courses themselves. No additional tasks by ICT Cortex. High school students applying for the Cortex internship: Let’s do IT! For these candidates, the primary online course is the Complete PHP From Scratch Course for Beginners, which is taken from January to March, followed by the first elimination test (March 2022). From March to May, candidates take the next course Object Oriented PHP and MVC, followed by the second elimination test (May 2022). If both tests are passed successfully, the candidates are followed by an eight-week internship in ICT Cortex companies. High school students who take courses for their improvement, without applying for Cortex practice These participants are expected to conscientiously use the opportunity for additional education and fulfill the conditions required by the courses themselves. No additional tasks by ICT Cortex. All registered candidates will receive detailed instructions and information on further steps via e-mail notification. Great support in the realization of this project was given by Help Montenegro (through the Reeconomy project), Crnogorski Telekom, and Cortex Fondacija, which are the initiators of the online courses. Certainly, the greatest gratitude goes to the members of ICT Cortex, the educators who opened their doors to all future members of the ICT community, eager to acquire new knowledge! Alicorn, AmplitudO, Bild studio, Coinis, Codeus, Codepixel, Data Design, Digitalnam Academy, Logate, Oykos Development, Ominitech, Optimus Smart Academy, SkySat For support in the realization and successful promotion of the Cortex Academy, ICT Cortex is also very grateful to other partners: the universities of Montenegro, Donja Gorica, Mediteran, the secondary vocational school in Podgorica, secondary vocational schools and gymnasiums in Berane, Bijelo Polje, Nikšić and Pljevlja, as well as and representatives of the Capital City of Podgorica and the municipalities of Berane, Bijelo Polje, Nikšić and Pljevlja, and our honorary member IPC Tehnopolis.
Despite the pandemics, IT companies are growing in all business segments
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.
