The biggest name in the Czech Republic’s street market, the Synot Group, is celebrating its 25th anniversary. The company, founded in 1991 with just three employees, today has a workforce of thousands.
“It wasn’t easy for us at the beginning,” said Ivo Valenta, chairman of parent company, WCV World Capital Ventures Cyprus.
“We had to borrow thousands of Czech crowns and worried about how we would manage to pay it back. We were a small family company, but with ambitions to be the best in the business.”
The group today, an international name with several subsidiaries and a Cyprus-based central administration, operates in 20 countries and has an annual turnover of €600m. Apart from its gaming core, the company focuses on IT, supports start-up projects, youth start-ups, media ownership and even has a BMW cars distribution arm.
“In every country where we have activity,” said Valenta, “we involve ourselves in local sport and in the voluntary sector. From the outset, we followed the motto ‘to help is natural’, so we quickly began to support worthy causes, investing in many parts of the non-profit sector, especially sport, but including culture, health service and education.
“We set up Foundation Synot, into which we injected millions of euros for community projects.”
These included a ski arena, bike park, water sports and other activities, as well as supporting historical sites in its foundation territories of the Czech Republic and Slovakia.
The company is regarding its 25th anniversary as a major milestone. “We entered the industry with products that we have subsequently worked to improve and constantly add to with innovations,” said Valenta.
“This gained us some important and helpful business partners in many parts of the world. But we would not have enjoyed this level of success – and a number of tourism awards for our voluntary work – without the efforts of our employees.”
The future, he said, involves further geographical spread with South America as one of the planned diversifications.
The company organised a 25th anniversary open day in Slovakia (pictured), with hundreds of employees, business contacts and partners from all over Europe, Asia, Australia and Africa.
