Is Money Important When Starting a Startup in Croatia?

Total Croatia News

Startup experts share their insider knowledge.

The Brand Forum 2016 has recently been held in Zagreb where it attracted 350 participants. One of the events at the Forum was the round table “Startup Revolution – New Investment Paradigm”, reports Večernji List on April 4, 2016.

Almost all the owners of the startup companies from Croatia and the region have launched their business activities with no money. The owners of such companies who came to the event said that it would be wrong to think that startups become profitable only when someone invests into their business operations.

The panellists agreed that in five to 10 years the conditions would be better both in Croatia and the region for the development of startups, but also for development of other types of companies. The countries in the region will be able to import know-how, but they will at the same time “sell” the know-how to third countries, it was said at the panel. Before that happens, the legislative, political, and economic frameworks should be created for the employment of workers in our country, because the workers still feel discouraged.

Davorin Štetner, the president of the Croatian Network of Business Angels CRANE and the owner of the Kreator Group, said that investments are not so relevant for startups. “Investments will come later and it is wrong to think that some startup will be successful only because it gets a financial injection at the very beginning. People need to know that the failure is also a part of the success. However, entrepreneurship has been, unfortunately, stigmatized in Croatia”, Štetner said. “I must say hats off to any private entrepreneur in Croatia, because each one of them is actually a hero. But, business owners should also make sure to remain profitable”, he added. Referring to the difference between business angels and conventional investors, he said that the former give their know-how in addition to the money.

Štetner pointed out that there is enough money in the European Union for financing various projects. “It is important to create a good project and thus attract the money from the European funds.”


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