Which steps has Prague taken in order to provide a good environment for businesses?

In Prague, as in the Czech Republic as a whole, research and development is becoming a key area in support for business development. A full range of business incubators for start-up companies focused on this area are in operation here. The Prague StartUp Centre was established in 2016. In spring last year, Johann-Dietrich Woerner, director general of the European Space Agency (ESA), together with CzechInvest CEO Karel Kučera and Prague Mayor Adriana Krnáčová, opened ESA BIC Prague, the first ESA space incubator in Eastern Europe. And the first six Czech start-ups entered the Prague space incubator in December 2016.

For the purpose of conceptual support and strengthening of research, technological development and innovation, representatives of science and research organizations, firms and public institutions regularly meet within the Communication Platform project to discuss, for example, topics such as life sciences, design and space technologies. Prague also has a program for enhancing cooperation between firms and the academic sphere and business-support programs are being rolled out at the secondary-school level.

Is there anything Prague can offer that other cities can’t?

A full range of major multinational companies have offices in Prague. The reasons for this are not only the affordable price of office space and the city’s location in the middle of Europe, i.e. connection to both western and eastern markets, but also Prague’s outstanding quality of life and extraordinary helpfulness to foreigners. Safety also plays a major role today. Prague is historically a center of education. The city is globally renowned for its genius loci, as it has a uniquely preserved center with a number of historical monuments.

Let’s imagine a little. How would Prague look without the influence of globalization? 

After 1989, when the former Czechoslovakia’s communist regime fell, Prague got a tremendous opportunity to open up to the world and the influences of globalization. Since that time, the city has striven to maximally exploit this fact to its benefit and for its economic prosperity. Prague has undergone dynamic development over the past 25 years. The influences of globalization flowing from the cultural traditions of other countries have made Prague a truly multicultural metropolis and help it to further develop.

Meribel Sinikalda

Published: May 2017

Image: DHL