There is still money and drive in the software industry — a business perspective from How to Web Conference 2023

The software industry is a field that is constantly innovating and evolving, and I had the opportunity to witness this firsthand at the How to Web Conference 2023, Eastern Europe's premier startup and innovation gathering. The insights I gained during the event were not just enlightening, but also brimming with promise.

While working in the tech sector, I always view every encounter with a business-first mindset, and this was the case exactly with How to Web as well. So many takeaways from the event, but they all had the same underlying conclusion for me — there is still money and drive in the software industry.

Hear me out why:

1. Investors are rekindling their interest in CEE tech startups, especially in AI

Investors have rekindled their interest in tech startups in the Central and Eastern European (CEE) region, and AI is at the forefront of their focus. What's catching their attention, even more, is startups that develop their own AI models. This renewed interest arises from the potential of AI-driven solutions to bring creativity, disruption, and innovation. The CEE region is now considered a hotbed for technological talent, and investors are eager to be a part of the innovation wave. This shift presents a golden opportunity for software agencies with a penchant for cutting-edge AI development to secure the backing needed for remarkable growth.

2. Software Development Companies Diversifying Client Portfolios

Diversification is the name of the game for software development companies in the CEE region. They are moving away from the traditional model of depending on one or two marquee clients. This shift is not just a strategic move — it's a safeguard against business-related risks. By spreading their client base, these companies are not only mitigating vulnerabilities but also opening doors for more projects. The result? Enhanced profitability and reduced dependence on the fortunes of a select few clients. It's a formula for success that is working wonders for businesses of all sizes.

3. Expanding Horizons: Targeting Key Global Markets

Northern Europe, the UK, China, and the Middle East, with a particular focus on the UAE and Saudi Arabia, continue to be lucrative markets for software development companies. These regions offer a bunch of opportunities, with substantial budgets still up for grabs.

The appetite for technology solutions in these areas is insatiable, and the software industry in the CEE region is well-positioned to tap into this demand. The pursuit of projects in these regions can be a game-changer for ambitious software agencies looking to scale their operations and revenue.

4. Embracing Partnership and Collaboration for Sustained Growth

The winds of change are blowing strong in the CEE software development landscape. A new spirit of partnership and collaboration is emerging among software companies in the region. They've recognized the power of communities, where they can share projects, opportunities, and even the workforce. These alliances are not just about camaraderie — they are strategic moves to ensure sustained growth. The ability to pool resources, share insights, and tap into each other's networks is amplifying the collective potential of software agencies in the region. It's an embodiment of the belief that — together, we can achieve more.

Bottom Line

In conclusion, the How to Web Conference 2023 showcased a software industry that is vibrant, dynamic, and brimming with opportunities. Investors are looking to fuel innovation, companies are diversifying their client portfolios, global markets are open, and collaboration is fostering a sense of community and shared success.

The software industry in the CEE region is alive and thriving, and the time to seize these opportunities is now!