At first glance, that’s a lot of change in a short period of time. What is the main reason for this?
The most important reason is that the world is now truly global and competition is constantly growing. That’s why we can’t stand still and wait to see what others will do, but must think for ourselves about where to take our business. There are many possibilities – you can enter new markets, expand your product portfolio, connect with successful partners, and use their help to reach new customers. We are trying to pursue all of these paths. This is precisely so that we are not surprised one day to find that the world has left us behind.
Let’s go chronologically. Last year, you announced the creation of Inspinia Technology, which you launched with the successful Turkish developers Astrum. Why them?
A unique opportunity arose. We have been making cutting-edge hardware for smart homes for a long time, and Astrum was one of the leading European players in the development of software for smart homes. At the time, Turkey was in a major economic downturn, so I approached their CEO and offered them the opportunity to manufacture products together under the “Made in Europe” label. The result is, among other things, SkyPlatform, a perfect cloud configurator for seamless building and home automation. It offers unrivalled flexibility and efficiency in managing devices, lighting and security from anywhere. I dare say that even in the context of global competition, it is an absolutely top-notch product. But we also help each other in business. Until recently, our branches ended in Bulgaria and began on the Arabian Peninsula. Today, we have built an imaginary bridge between them and can confidently do business in Turkey, Turkmenistan, and other countries on the Silk Road.
Then you announced your own distribution in India
India attracts everyone who is currently doing business focused on exports. It is the largest country in the world, where the middle and upper classes are growing rapidly. At the same time, they love technology here. If you look at the list of the world’s largest companies, you will find that a significant proportion of them are led by people with Indian roots. This is no coincidence, but rather the result of a good education system and a desire to understand IT and move up the ladder. We looked for a suitable way into this market and decided to establish a branch of ELKO EP India. So far, I cannot praise this cooperation enough.
What about your trips to Bali, Indonesia, and Thailand?
It sounds like a vacation, but it’s usually related to business. We have a retrofit solution (HRESK) that allows aging hotels to become “five-star” again in the eyes of guests without complicated drilling and with the help of simple modifications, while also bringing significant energy savings. That’s why I’m focusing on presenting this part of our business to the partners we’ve found here. It’s still early days, but we’re already seeing concrete interest in our solution from large chains and from several countries, from Thailand to Singapore.
What about activities in your favorite Middle East, which is why you started your own newsletter, SMARTEAST?
We’re not sleeping. We’ve started a new branch in Qatar, and we’ve got a big contract coming up in Kuwait. We’ve got our own branch in Saudi Arabia, and in the Emirates too. Construction is still going on here, perhaps less vigorously than before, but that plays into our hands, because everyone here wants to be involved in the most grandiose new projects, but they forget about the aging ones. And we can supply exclusive lines to top projects, but also offer long-term sustainability to existing ones.
Most recently, you bought BJC from Siemens. A traditional Spanish manufacturer that will celebrate 100 years of existence next year. ELKO EP will be there as the sole owner.
Again, an opportunity arose to make this perhaps unexpected deal. We hesitated for a moment, but again I said to myself: he who hesitates is lost. For us, BJC is a natural partner. It has a similar portfolio, understands the business, and has interesting connections to the biggest players in the industry. It is an established company that currently needs to restart its engines. We took over the keys to the company at the beginning of June, so we are in the familiarization phase. It will be challenging because we have suddenly doubled our turnover and we have to devote a lot of energy to it. On the other hand, it’s an adventure and an unexplored path – and that’s what I love about technology development and business. After all, it’s the best cure for the current gloom I hear in debates about European manufacturing. Let’s not cry, let’s work.
