Companies to Watch in Bosnia and Herzegovina:

Evolt is a global technology company located in Sarajevo (Bosnia and Herzegovina), Ljubljana (Slovenia), and Houston (Texas), operating since 2018. They provide their clients with top-notch solutions and products, and we spoke with their founder, Mr. Tabak Edin, CEO of Evolt, about their journey, achievements to date, and future.

1. How would you describe the beginnings of Evolt, and can you highlight key milestones in its development that have shaped your current success?

I founded Evolt with people whom I knew were foremost excellent engineers and individuals I trusted completely. Our beginnings were motivated by the idea of creating a company by engineers, for engineers. Through extensive experience in the IT industry, we identified the challenges engineers face and decided to create an environment that allows them to fully realize their potential and the creativity required for engineering work. Our ideology focuses on people because we believe that good people make good products. Therefore, we continuously invest in our employees. In companies where we previously worked, the focus was solely on projects, often neglecting the development of engineers, with the main goal being project completion. Our aim was to build a team of strong individuals capable of delivering projects with quality, ensuring a balance between work and personal life.
Unlike many companies, our growth has been organic from the very beginning. We did not have significant turning points in our business, except for one significant decision during COVID. At that time, we decided to reinvest all profits into our people. When there were no new projects, we continued hiring to bring in strong individuals who emerged in the market. Our philosophy is to invest in quality engineers who emerge in the market regardless of the current project needs. Every investment in people has proven to be correct.

2. What are the biggest challenges you face as a fast-growing company, and how do you plan to overcome them?

As I mentioned earlier, Evolt has followed organic growth from the beginning. The partners we worked with were so satisfied with our work that they gladly recommended us, leading to rapid acquisition of new clients and company growth. However, in the recent years, there have been market changes where there has been a contraction, and the number of projects is significantly lower than before. We are managing this challenge very well.

As soon as we identified the problem, we opened a Business Development Center in Ljubljana and focused part of our efforts on sales and the European market. In addition, we opened another Business Development Center in Houston, Texas, and are now making investments to enable growth. This step has proven to be the right one, and we plan to continue investing in this direction.

3. What are the most significant projects or innovations you have implemented in the past few years?

Since Fintech has been what has most followed us over the past few years, we are proud of projects in that industry. Some of our achievements include:

• Development of one of the fastest-growing crypto payment providers NAKA, with an innovative POS solution for digital and crypto payments.
• Implementation of neobanking applications as a step towards creating the first bitcoin banks.

4. Sustainability and social responsibility in business are very significant aspects of every company's operations. How does Evolt BiH approach them?

Evolt is deeply committed to sustainability and social responsibility in business. This is reflected in:

• Environmental awareness: We focus on minimizing our environmental impact through responsible resource use and energy efficiency.
• Support for the local community: We actively participate in programs that help young people enter the IT industry and acquire necessary skills. We are particularly proud of our internship programs, through which we have brought in and trained many engineers from universities in Bosnia and Herzegovina. We also actively participate as donors in various educational programs, such as programs by Steleks, BH Futures Foundation, Association of young STARt, as well as educational institutions themselves.
• Collaboration with humanitarian organizations: We have been a long-time sponsor and partner of SOS Children's Villages Bosnia and Herzegovina and the "Source of Hope" Foundation and have participated in actions by organizations "Heart for children with cancer," "Big Brother, Big Sister," "BK Olovo," JU Cantonal Hospital Zenica, JU Center for Social Work Visoko, and many others.

5. Thanks to your results, you have reached the Technology Fast 50 list in the Companies to Watch category. How does this recognition motivate you for future activities?

We have been included in the Technology Fast 50 list in the "Companies to Watch" category, which is a great honor and motivation for further progress. This recognition confirms our commitment to innovation, growth, and positive impact on the IT industry in Bosnia and Herzegovina. It also enhances our credibility with partners who also value having evidence that they are collaborating with a company that adheres to certain standards and continues to progress.

6. How do you see the significance of the Fast 50 initiative in Bosnia and Herzegovina?

The Fast 50 initiative is of invaluable importance in Bosnia and Herzegovina because:

• It recognizes and celebrates excellence: It acknowledges the fastest-growing companies in the country, inspiring them to continue innovating and growing.
• It promotes the IT industry: It increases the visibility of the IT sector in Bosnia and Herzegovina, attracting investments and talents.
• It motivates future generations: It serves as inspiration to young people.

7. How do you envision the future development of the IT industry in Bosnia and Herzegovina and the region?

I believe that the IT industry in Bosnia and Herzegovina and the region has enormous potential for growth and advancement. Bosnia and Herzegovina has many talented and educated IT professionals capable of innovation and solving complex problems. I see a particularly great potential in creating products by local talents.

Our region is rich in quality workforce, and I am confident that we will become a technological hub in the future that creates products that change industries. Moreover, the Balkans is one of the best locations for living, with low costs and an environment that offers opportunities for a healthy and fulfilling life. This could be the reason why many professionals may want to stay here and build a better future.

Additionally, I believe that the future lies in collaboration between domestic companies and entering foreign markets together to compete with companies that have hundreds or even thousands of employees. Sometimes we receive inquiries for projects that require many engineers, and we do not have the capacity to enter such projects independently. We are already working jointly on some projects with our domestic companies, and I can say that the collaboration is excellent.

With the right investments and encouragement for young people to work on their products, our region can have enormous potential for development and innovation.