Geomotiv Joins High-Tech Park Belarus
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 that unites the most innovative Belarus-based IT companies and provides unique opportunities for their growth and promotion 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. HTP’s main goal is to provide conditions favorable 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 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, High-Tech Park Belarus 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 software development partner that you can fully trust may become the cornerstone of overall business success. We believe that joining HTP is going to become an important step in Geomotiv’s success story as a trusted development partner. The HTP residency gives us a chance to expand our offering and make 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, which means that only trusted companies can qualify for membership. The HTP residence has become a virtual “trust badge”, 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 guidelines established by the HTP Expert and Supervisory Boards. The document includes a detailed view of company market entry 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. You as a client can access the best tech talent motivated for professional growth and ready for challenging projects of any complexity
– Simplification of accounting: HTP residents are exempt from separate mandatory accounting procedures and certain limitations that are common to non-resident companies. HTP members don’t have to accept original copies of primary documentation (acts or bills) from their client in particular. Simplified accounting can remove a lot of red tape involved for both the client and its vendor
– Migration privileges: HTP establishes a visa-free regime for its residents willing to engage foreign specialists under labor contracts. Simplified migration procedures refer to a set of measures aimed at boosting HTP residency attractiveness for top-level specialists from abroad. As a result, HTP members can employ foreigners without any friction, which 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 and 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!