Startups could not spring to thoughts when talking in regards to the lovely nation of Croatia. Indeed, the nation is hottest as a vacationer vacation spot, and provided that tourism accounted for about 20% of its GDP in 2018, to an extent, its pre-pandemic focus was totally on rising its share of the worldwide tourism market.
But Croatia’s entrepreneurs haven’t been quiet: Startups like Infobip and Rimac are important native hero companies now, and the area can boast of high-quality expertise within the tech, automotive, manufacturing, and agtech areas. With solely two enterprise capital companies working within the capital of Zagreb, the startup scene continues to be younger, however the nation’s comparatively current EU membership has given it entry to a rising set of direct funding devices.
The present tax framework on capital positive aspects tax (zero if you happen to maintain the shares for greater than two years) and a brand new ‘digital nomad’ visa are serving to to draw traders and expertise to the town, which can be near a number of the greatest seashores on the earth.
Access to recent, outdoors capital is at all times a catalyst for progress, so to get an inside take a look at Zagreb’s fast-growing startup ecosystem, we spoke with 9 native founders, traders and C-level executives.
According to the respondents, Zagreb’s strongest tech areas embrace HR options, automotive, fintech, cell gaming, IoT, insurtech, and AI. The metropolis’s angel investor scene isn’t very sturdy but, however that might be attributed to the ecosystem’s youth.
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The metropolis has a superb work-life stability, and a lot of the expertise desires to remain there. “Now, with the COVID-19 pandemic, it’s easier to land remote jobs and stay in Zagreb, which will positively impact our ecosystem,” one of many traders mentioned.
However, with competitors heating up, startups searching for bigger, critical funding will in all probability need to look past the nation’s borders whereas making an attempt to retain their engineering expertise. Luckily, an growing variety of worldwide traders are Zagreb for his or her deal move pipeline.
Some high Croatian startups embrace: Agrivi, Amodo, Ascalia, Bellabeat, Cognism, Degordian, Dok-Ing, Infobip, Mindsmiths, OptimoRoute, Oradian, Photomath, Repsly, ReversingLabs, ScoreAlarm, Sportening and AdScanner.
We surveyed:
- Lucija Ilicic, CEO, PlatePay
- Julien Coustaury, companion, Fil Rouge Capital
- Josip Orsolic, CEO, Lilcodelab
- Vedran Tolic, founder & CBO, Q company
- Bozidar Pavlovic, managing director, airt
- Matej Zelic, COO, Spotsie
- Miroslav Kovac, CEO, Coffee Cloud
- Vedran Blagus, funding supervisor, South Central Ventures
- Daniel Stefanic, investor
Lucija Ilicic, CEO, PlatePay
Which are essentially the most fascinating startups in your metropolis?
Photomath, Sportening, and Mindsmiths.
What are the tech traders like? What is the funding scene like in your metropolis? What’s their focus?
Mostly revenue-oriented.
With the shift to distant working through the COVID-19 pandemic, will individuals keep in your metropolis, transfer out, or will others transfer in?
People would select to dwell and transfer right here through the pandemic. Some of them did, particularly having in thoughts that Croatia now has the digital nomad visa.
Who are the important thing startup individuals in your metropolis? (e.g. Investors, founders, legal professionals, designers, and many others)
Investors: Fil Rouge Capital, Feelsgood, Zicer, Bird Incubator; Founders: Ivan Klarić, Damir Sabol, Mislav Malenica, Mate Riimac
Where do you see your metropolis’s tech scene in 5 years?
The Croatian startup ecosystem actually grew throughout final 12 months and has big potential. I see it as an ideal place for digital nomads, dwelling of some new unicorns and a European heart for AI options improvement.
Can you suggest any corporations that ought to seem in our world Startup Battlefield competitors?
Sportening, Mindsmiths, and naturally, PlatePay.
