Financing Services, Automotive
Fortech Products innovates the essential industries in Romania through technology
November 10, 2022 at 9:45:00 AM
Cluj-Napoca. November 10, 2022
Fortech, the software development company, launches Fortech Products to help essential industries in Romania innovate through technology. The new division builds digital solutions from scratch and supports entrepreneurs developing products and services in the same direction with resources, capital, and technical and business expertise.
Many industries that have proven essential, especially in recent years, are affected by the lack of digitization. For example, Romania ranks last in the EU for digital competitiveness, according to the results of the Digital Economy and Society Index (DESI) 2022, which tracks digital progress in EU member states in areas such as the integration of digital technologies by businesses and public services digital.
That's why Fortech Products focuses primarily on medicine and production, to bring them to the standards of Western countries, working together with specialists who know best the challenges, shortcomings, and shortcomings "on the ground".
"Although many companies and industries have intensified their activity and oriented towards digitalization in recent years, we are far from capitalising on this opportunity. Most initiatives fail due to a lack of the right approach, having an opaque strategy, without a deep understanding of the problems and contexts that foreshadow or exist in society. Because of this, the multitude of strategies implemented do not bring the desired results and end up being more expensive than their absence", states Valentin Filip, VP of Products within Fortech.
For the effective digitization of Fortech industries, partnerships are made with specialists in various fields to build solutions that can be integrated later into their professional activity. That's why those who have identified a problem that needs a digital solution can develop it together with Fortech Products, having the option to choose their degree of involvement. Those who want to take the first step in entrepreneurship can become founders of a start-up to develop, launch and finance together the technology and investment company. Instead, specialists who want to benefit from digitization can act as consultants and get involved with their professional experience, and Fortech will cover the entire solution development process. Regardless of the option, the goal is for them to be the first to benefit from the advantages of the technology so that their customers and, implicitly, the industry and the technological ecosystem in Romania develop as a result of these advances.
A recent example from the medical industry is EndologiQ, a digital assistant for doctors performing endoscopies. The solution helps them standardise their reports and extract data for research. When Andrei Groza, a gastroenterologist, turned to Fortech Products, he had only an idea, frustration with the state of reports at the time, and a vision of functionality and design.
"I was looking for an IT partner to help me build an application for digestive endoscopy, and they were the only ones interested in the idea and the solution's potential. This collaboration helped me fulfil my dream of using the knowledge I gathered during my Ph.D. In developing a product used by all doctors practicing endoscopies, I participated directly in every stage of product development. The overall enthusiasm, professionalism, and openness to discussions and ideas made this experience among the best of my career, and I hope it will last", explains Andrei Groza, doctor, about the collaboration with Fortech Products.
This division complements the main activity of Fortech, and the investment division, Fortech Investments, launched last year. Those who choose to collaborate with Fortech Products benefit from Fortech's almost 20 years of experience in software development, knowledge accumulated in different industries, with numerous clients, and the most diverse solutions. Moreover, Fortech Investments has 17 start-ups in its portfolio, meaning that the beneficiaries have access to all their relationships and all the lessons learned about the life cycle of a successful start-up, as well as the barriers that arise along the way.
"The Fortech Products division naturally came to life, after developing software for almost 20 years and starting to invest seriously in start-ups more recently. In practice, we want to close the "circle" that we have created and for others to benefit from the dynamics between all entities - the technical expertise in software development and the business and market knowledge we have gathered by strategically investing in start-ups. These will be used to develop digital products that solve problems in essential industries such as medicine or manufacturing. Thus, everyone benefits - companies, employees, industries and, most importantly, consumers, people", adds Valentin Filip, VP of Products at Fortech.
Those who want to work with Fortech Products to solve problems in their industry with the help of technology just contact them and briefly describe their situation. Together, they will identify the solution, test it, implement it, and finally bring it to market to reach everyone who will benefit from it.
About Fortech Products
Fortech Products is a new division of Fortech that builds digital products from scratch or partners with early-stage founders to innovate and digitise critical industries such as medicine or manufacturing. I provide resources, capital, and expertise to develop, launch and grow them into scalable start-ups and profitable businesses.