First Time at Italian ScaleIT Conference for Successful Croatian Startup

Lauren Simmonds

The presentation of this Croatian startup from Sveta Nedelja in Italy is due to its encouraging levels of success and the realisation of organisers that Croatia boasts a quiet but rather promising startup scene, despite all of the negative headlines.

As Bernard Ivezic/Poslovni Dnevnik writes on the 29th of May, 2019, one of the largest Italian startup conferences, ScaleIT, opened up for new companies from the Republic of Croatia for the first time this year. ScaleIT is an event that brings together fifteen of the most successful startups, mostly from Italy but also from abroad, and connects them with more than seventy VC funds and 150 active business angels.

Lorenzo Franchini, the founder of the ScaleIT program and the founder of the Italian Angels for Growth business association says that due to the eighty million euro Hyundai investment in Croatia’s wildly successful Rimac Automobili, headed by Mate Rimac, he is now aware that there are also promising scaleups and other rapidly expanding businesses located in neighbouring Croatia.

“Inspired by the story of Rimac, who has collected more than one hundred million dollars from major international brands such as Hyundai, Kia, Porsche, Camel Grupai and others,” stated Franchini.

He added that ScaleIT is looking for startups who want to expand onto international markets and need between three and thirty million euros in capital.

“We create a healthy balance of more than ten investors per single scaleup, and in the last three years, we’ve secured more than 230 million dollars in capital,” said Franchini.

Among the group of investors who will listen the pitches of fifteen of the best startups are investment houses such as Accela, Cisco Investment, EarlyBird VC, Eight Roads, Holtzbrinck Ventures, Index Ventures, Iris Capitals and Partech Ventures, as well as companies such as Euronex, AWS, to Salesforce.

Over the past several years, the aforementioned Italian conference has successfully attracted startups from Slovenia, Bulgaria, Macedonia, Greece and the Czech Republic, in addition to those from Italy.

Make sure to follow our dedicated business page for much more on Croatian companies, Croatian startups, Croatian products and services and the general Croatian investment climate.


Click here for the original article by Bernard Ivezic for Poslovni Dnevnik


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