'Born Global Champion' Award to LingoHub!
"We are just happy to get this prize. I am proud and as of my colleagues. It just shows that we are on the good way. I guess we achieved a lot since we have started, and our service is outstanding in many meanings. Cloud translation was released in March 2015. The service supports translations with a push of a button. Over 3000 professional translators work with LingoHub to offer an all-in-one internationalization solution of the highest quality. But we are just at the start-line. We really wish to be global, well-known and popular by having satisfied customers from all over the world. We are going to release more user-friendly features in the close future and we are available for all sectors. I am pleased to get this award today, thanks for the Austrian Federal Economic Chamber and their work and support. We are named champions, but we are rookies, so we go forward! Thanks!"Helmut Juskewycz, CEO, lingohub GmbH
On the vision of born global companiesTraditionally the internationalization of companies has been considered a two-step process. First of all the domestic market is developed. At a later stage, after several years of business and product development, other countries and markets become the focus of expansion. The reasons behind this expansion are very often the discovery of the growth potential of foreign markets, the utilization of economies of scale and competitive advantages, strategic market diversification or the answering of consumer demands.
Nowadays, in contrast to this two-step approach, many entrepreneurs see themselves as “born global”. From the very start they compete in the global market with an innovative product or service. This phenomenon has been growing rapidly in recent years, becoming increasingly important and gaining momentum.
In addition to the underlying vision and how the company sees itself, there are several other “born global” criteria which can be recognized. In many cases the companies are built up on innovative ideas and scalable products or services. Furthermore they focus on first-to-market advantages and capitalise on the opportunities provided by global market niches.
Part of this philosophy is also the readiness to take additional risks, to aim at faster growth, to deploy necessary resources, to adapt to new markets and to develop advanced managerial skills. Needless to say this endeavour is highly challenging and requires the support of all stakeholders in order to be able to succeed.
For the purpose of this award the term “born global” had been defined as follows:
- foundation of the company in 2010 or later
- company with an international focus
- innovative product or service
- international growth as one of the company’s main priorities
“The achievements of Born Global Champions are simply outstanding. Their success is based on exceptional products and services, true entrepreneurship and inspiring creativity.” Christoph Leitl, President - Austrian Federal Economic Chamber
“These great companies are proof of Austria’s claim to be“SURPRISINGLY INGENIOUS”. To learn more about them and how they can support your business, get in touch with one of our local offices in over 70 countries worldwide.” Walter Koren, Director General