In October 2019 Geomotiv officially became a resident of High-Tech Park (HTP) Belarus. We are thrilled to join, and become a part of, a favorable business environment. HTP unites Belarus-based IT companies and provides unique opportunities for their growth on foreign markets.
About High-Tech Park Belarus
Government-backed since 2005, High-Tech Park Belarus welcomed its first members aboard an innovative consolidated business cluster similar in its potential to Silicon Valley. The Park’s main goal is to provide favorable conditions for its residents and generate numerous economic incentives for prospective investors.
As HTP matured, new game-changing rules were introduced to respond to the growing needs of the IT industry.
The revolutionary “Decree on Development of Digital Economy” signed in 2017 ushered in new conditions unprecedented in other European countries. Belarus adopted the most widespread institutions of English law, approximated its legislation to foreign investors, and simplified the ways of conducting foreign transactions. Such changes also reflected on the whole HTP cluster giving its residents vast opportunities for expansion.
Today, HTP continues to grow and is becoming a leading force of IT innovation in Europe.
HTP in Figures
- Home to 600+ companies with 55,000+ specialists;
- Clients in 67 countries over the world;
- Export share of software produced amounts to 91%, with the United States and European countries enjoying 43.2% and 49.1% of exports, respectively;
- Among major HTP consumers are Peugeot, Mitsubishi, British Petroleum, Gazprom, Reuters, British Telecom, Coca-Cola, Colgate-Palmolive, Bosch, Expedia, Citibank, MTV, London Stock Exchange, The World Bank, and many others;
- Mobile apps developed in HTP are used by 1 billion people in 193 countries.
High-Tech Park Undeniable Advantages
Having a trustworthy software development partner may become the cornerstone of overall business success. We believe that joining HTP has become an important step in Geomotiv’s success story. The HTP residency gives us a chance to expand our offering. Moreover, it makes our development services more attractive and efficient. Due to the advantages such residency presupposes:
- Economic stability. Resident companies are subject to annual financial audit. Each new resident is supposed to meet strict financial conditions before entry. It means that only trusted companies can qualify for membership. The HTP residence has become a virtual “trust badge”. It's a sign that a software development company is financially protected.
- Strategic thinking. Each resident-to-be has to submit and defend their business plan under the certain guidelines. These guidelines are established by the HTP Expert and Supervisory Boards. The document includes a detailed view of company's strategy, its competitive features and milestones.
- Focus on tech talent. Residence at HTP creates attractive conditions for professional growth of IT specialists. HTP membership traditionally attracts creme de la creme experts. Thus, the clients access the best talent ready for challenging projects and motivated for growth.
- Simplification of accounting. HTP residents are exempt from separate mandatory accounting procedures and a number of limitations. Its members don’t have to accept original copies of primary documentation from their client. Therefore simplified accounting can remove a lot of red tape involved for both parties.
- Migration privileges. HTP establishes a visa-free regime for its residents. So any member company can easily engage foreign top-level specialists under labor contracts. Simplified migration procedures are aimed at boosting HTP residency attractiveness for specialists from abroad. As a result, HTP members can employ foreigners without any friction. This can add more value to staffing procedures and streamline the development process.
- Compliance with international investment practices. The introduction of select English law institutions allows HTP residents to conclude contracts and agreements with foreign investors according to international norms and regulations. Thanks to this, HTP residents can sign convertible note agreements, non-compete agreements, and contracts actively implemented worldwide. The HTP framework thus creates unprecedented conditions for HTP members. It enhances their offering to foreign clients.
Becoming part of the most prestigious European IT cluster is an exciting opportunity for our company. It paves the way for new projects and collaborations with companies and industry leaders worldwide. We see networking with HTP Belarus as a boon for Geomotiv’s clients that can benefit from more favorable cooperation conditions. Come join us on our way to delivering cutting-edge software solutions to the world!
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