Postcards from Europe: Case Study, Fastest Growing Top Ten!
Welcome to the content from our series "Postcards from Europe" that ran between the 14th - 19th of July 2014. On this page we showcase the top ten fastest growing start-ups in Europe. The data was collected from Deloitte Technology Fast 50 for Central Europe. Find out about our "Postcards" series HERE
#5: Ruptela – So far all of the company's we have been profiling from Central Europe this week have one really important thing common - young, dynamic and taking advantage in the rise of the internet in order to build a business. Ruptela is one such business that has also experienced growth in the region of more than 1200%.
What does Ruptela do? well first take a look at its founder Andrius Rupsys. We are assuming like many really great start-up entrepreneurs he prpbably first saw a gap in the market while working at Teltonika where he was chief of international sales between 2004 - 2007. Ruptela was founded in August of 2007 which also speaks a lot to the state of the Lithuanian economy at the time where young dynamic people such as Andrius were able to seize opportunities.
As a business they claim to be the fastest growing GPS tracking solution provider in Central Europe with network partners in 91 countries. With more than onw third of comany employees involved in research and development and project management is still handled internally which is great to see considering many are tempted to offshore devleopment to places such as India. What we like about this business is the recognition that in order to build for the future you first need to have the skills and talent to get you there. Many organisations forget that future innovation occurs in-house with that in mind they have 30 high level specialists working on a range of be-spoke and customised projects.
One product that captured our imagination was TrustTrack "TrustTrack is a modern contemporary WEB platform for monitoring GPS/GLONASS/GSM mobile and stationary objects. Platform allows you to track and operate your ﬂeet 24/7. You just need to login to our system from any computer with Internet using your given password and you can immediately monitor the vital information: position of the vehicle, route history, work time, fuel consumption, fuel level in the tank and other data displayed in various reports and diagrams. Moreover, system can inform you when your vehicle arrives at the destination point of the chosen area, and give you information about low battery, speeding, fuel theft, temperature changes etc."
Why TrustTrack? bec ause when we profile case studies one thing we want the reader to take away isn't just the local potential of a company but one where they have products that have mass market global appeal.
Lessons we can learn from Ruptela? Firstly, it looks as if the timing was right in so far as there was a clear gap in the local market. By starting off by fulling local market demand you can learnimportant lessons before reaching into secondary markets. The very fact the business has been around since 2007 indicates that the founder has perservered - which is a trait of all successful entrepreneurs.
#5 Ruptela (Lithuania)
Ruptela Founder Andrius Rupsys and below with Lithuiania's President