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GlobalCom’s Blog lists articles, insights and thought leadership pieces written by Public Relations specialists spanning all continents, in several languages.

Selected topics: Content Marketing | Lists and Checklists | Meta | Tips & Tricks

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American market for Russian start-ups

In 2014, the start-up, Luca, led by the former editor of Afisha magazine, Eugenia Kuyda, became the first Russian start-up participating in one of the most prestigious business incubators of the Silicon Valley – the legendary Y Combinator.  Every year, more than 30,000 companies from all over the world send their application to participate, but only 100-200 are selected for the program. YC has a history of providing a spring board for companies like Airbnb, DropBox, Reddit, and many others. Surely, this accelerator invests small amounts of money for the development, but, more importantly, its support of companies serves as an endorsement for investors from around the world.

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Serbia – Region Summary (Part of the Summary of Eastern Europe Market)

Market Landscape

What are the “hottest sectors” for start-ups? 

The gaming industry and software and IT solutions, as well as providing solutions in connecting internal and public datasets to accelerate research and development.

What kind of sectors are the rising stars in the local economy? 

The gaming industry and software and IT solutions.

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Russia – Region Summary (Part of the Summary of Eastern Europe Market)

Market landscape 

What are the major corporates across sectors that have decision-making units based in the region? 

The economic crisis and sanctions have not made life easier for international corporations working in Russia. But there’s still a way to reap the rewards of changing economic conditions. One potential strategy is to localize. German sportswear company Adidas revealed plans to close 160 stores across Russia by the end of 2017. The multinational corporation has been scaling back business in the country for the last three years – with many shops already shut down – as consumer demand continues to tail off amid the economic crisis. According to sources close to the company, Adidas has been rethinking its business strategy since 2014 and the closures represent one of the ways to optimize sales by cutting losses.

Other international companies have also been forced into a rethink in Russia. “The ruble depreciation has made localization of business in Russia one of the most attractive options,” Pavel Sigal, vice president of Opora Rossii – a Russian business association of small and medium companies. “Put off by sanctions and the crisis, the majority of corporations did not dare bet on localization, but the gradual adaptation of Russia’s economy to sanctions will eventually lead them to do it. The cost of labor in Russia has become lower than in China and large companies cannot ignore this.”

While localization has not yet become a mainstream trend, there have already been notable cases. Here are five international companies that have made steps to localize in Russia over the last three years.

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Romania – Region Summary (Part of the Summary of Eastern Europe Market)

Market Landscape

What are the major corporations across sectors that have decision-making units based in the region?

There are a number of multinational companies with regional centres in Romania – some are based in Bucharest, others are based in other towns. The most dynamic field is that of IT programming and, as a result, outsourcing services related to ITC.

Some of the industries and examples of companies active in Romania are:

  • IT&C – Oracle, IBM, Dell EMC, Huawei, Veeam
  • Gaming: Ubisoft
  • Auto: Michelin
  • FMCG-: Unilever, P&G
  • Outsourcing: 13th world largest outsourcing hub
  • Tobacco: BAT
  • Consultancy: Deloitte
  • Logistics: UPS, Gefco
  • Military: Black Hawk (helicopters)

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Poland – Region Summary (Part of the Summary of Eastern Europe Market)

Market Landscape:

What are the major corporations across sectors that have decision-making units based in the region?

Only a few years ago, most of the decision-making units for the EMEA region were located in Germany or Great Britain. In recent years, these trends have shifted and, with highly-qualified personnel and lower operational costs, more and more world-recognized corporations are choosing Poland as the location for their highly-ranked subsidiaries.

Biggest decision-making units in Poland:

  • Samsung
  • Huawei
  • P&G
  • Raytheon

What are the “hottest sectors” for start-ups?

One of the biggest sectors for start-ups is the market for specialized IT and technology, like: fintech, bioengineering, cybersecurity, gaming and the automotive industry of the future. Many Polish Venture Capital Funds are also connected with banks or insurance agencies – with technologies like blockchain of particular interest. Another hot sector for Polish start-ups is healthcare. Start-ups are utilizing the most advanced technologies and achievements of others around the world to address what is becoming a crucial issue in an ageing society. Polish entrepreneurs are already changing the landscape of the educational market, with Brainly as an example of a company enjoying world-wide success.

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New member in our family! Progress Communications from the Benelux

Progress Comms team

The GlobalCom PR Network is happy to introduce to you the newest member of our family: Progress Communications – or Progress in short – from the Benelux.

With offices in Amsterdam, Netherlands and Antwerp, Belgium they service a wide range of clients in the technology, consumer electronics, aerospace and fintech industry. Clients like Accenture, AVM, Bellabeat, Boeing, iRobot, Microsoft, MoneYou and Verizon Connects.

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PRGATE has a new Senior Executive Director

PRGATE Staff chance

PRGATE, GlobalCom PR Agency based Seoul, South Korea, has a new Senior Executive Director. Our longtime contact Gabriel Lee no longer works at PRGATE and we are happy to introduce Hae Won Lee.

Ms. Hae Won Lee obtained a MBA from the Yonsei University, Seoul, Republic of Korea, and a BA in Chemistry (Sigma Xi) from Wellesley College, MA, USA, in 1990

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PR Agency Taktiq has a new Managing Director

Staff Change Business Change Taktiq

Taktiq, GlobalCom PR Agency based in Prague, Czech Republic, has a new Managing Director – she will be the primary contact person for all GlobalCom Network issues.

Lucia Brinzanik has worked in PR, marketing and communication for 14 years. She has comprehensive experience with preparation and implementation of communication strategies, brand and corporate identity and with creative content. For this work, her and her team were awarded several PR awards (in the Czech Republic), including awards for best corporate publication and annual report (in 2017 and 2018).

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Hungary Region Summary: What are the hottest sectors for start-ups? And similar questions answered here!

hottest sectors for start-ups

Market Landscape

What are the major corporations across sectors that have decision-making units based in the region? 

Pharma (Richter), health care (GE), road transportation (Waberer’s) automotive (Audis’ largest engine plant in the world), telecoms (Nokia, Ericsson development centres)

What are the hottest sectors for start-ups? 

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Greece Region Summary: What holds sway in your region – traditional or new media types and influencers?

Greece Region Summary

Communication Environment

 

What holds sway in your region – traditional or new media types and influencers? How is that changing?

Mainly traditional media types (print: papers, magazines and electronic: TV, radio, online) and influencers (journalists, columnists).

The media landscape is changing dramatically due to the collapse of major publishing houses owning high-impact media. Nowadays, online media are gaining significant market shares against the traditional media; especially newspapers, magazines and TV. More publishers are showing a preference for online over print media as they are applying cost cutting strategies.

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