Digital economic (r)evolution

24 May 2023

The Czech economy is at a crossroads and will have to decide which direction it will take in the near future. Long-term low unemployment, which has not been significantly affected even by the coronaviral economic crisis, confirms the assumption that the current economic model is exhausted. Companies and entrepreneurs can no longer rely on cheap labour and subcontracting to multinationals in the long term. In the light of downward pressure on prices, sustainability, the automation and robotization of work, or strong competition from Asia in particular, this model simply cannot stand in the long term. The economy is running up against its limits and, if it wants to be successful and prosperous, it must focus on technological transformation leading to higher added value. Czech companies such as Rohlik, Kiwi or Productboard show that Czechs can create innovative companies with global ambitions.

What are the strengths of Czech business that the economy can build on? What do we need to do to fully exploit the potential of new technologies and innovations to our advantage? And what conditions should the state create for new "unicorns" to be born in our country?

Are you ready?

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