Croatian Startups Launch Internet of Things Business Venture in Kuwait

By , 27 Feb 2017, 16:18 PM Made in Croatia

Share this:

Negotiations on cooperation were concluded after the recent visit of Croatian President to Kuwait.

Three Croatian startups have joined forces in a cluster Reaktor and launched a joint venture in Kuwait with the Kuwaiti technology company AEA Manufacture, reports on February 27, 2017.

They will jointly offer various hardware and software solutions for smart buildings and so-called Internet of Things (IoT) devices and systems. Negotiations on cooperation, which lasted for year and a half, were concluded after a recent visit by Croatian President Kolinda Grabar-Kitarović to Kuwait and her meeting with Emir Sabah Al-Ahmad Al-Jabir Al-Sabah.

Ivan Jelušić, the founder and director of Reaktor, said that the crucial thing for them was to get good references in Kuwait so they could spread to other Middle Eastern markets. “Although this is a joint venture, our partner from Kuwait will not invest directly with us, but will rather open up the possibilities to get some contracts. Certain projects are already in the pipeline and we should know more in a few months”, said Jelušić.

Ali Ashkanani, director of AEA Manufacture, said that the number of devices connected to the Internet of Things has far exceeded the number of people living on Earth. By 2020, the IoT market will be worth 14 billion dollars and that was the reason which encouraged him to enter into cooperation with Reaktor. “Reaktor is an innovative Croatian hardware cluster. We will jointly present new technologies, as well as our development services which we offer to companies and startups in Kuwait”, said Ashkanani.

Reaktor was founded by several businesses which Jelušić started some time ago. Together with Mitko Cabevski from Macedonia, he launched the u:Plug startup three years ago. The first series of smart power outlets was sold out, and Jelušić said they would soon come out with a new series of 1,500 pieces. The cluster also includes AABO from Osijek, which has developed solutions for smart use of energy. AABO is a partner of the Town of Osijek in the field of smart street lighting, and has about a dozen clients in Croatia. The company has developed solutions for remote monitoring of consumption of electricity, water and gas, and that is the first product which Reaktor will launch in the Kuwaiti market. The third partner in Reaktor is the hardware startup Capital Hook from Osijek, which develops hardware components and other products in the field of Internet of Things.

Jelušić said that he was currently involved in four projects in Croatia. “However, it is important to emphasize that this is a small startup cluster. The core team is made of just four people, and we also have about a dozen external partners”, said Jelušić. He added that he went to Kuwait in 2015 when he discovered that the local market, which had a number of excellent new properties, was not saturated with new technology companies.

“I took advantage of the visit to begin to build contacts. Everything was a combination of perseverance and courage. But, it proved to be a very good move. Each of us can go abroad and look for the right contacts”, concluded Jelušić.

Photo of the day

From Croatia with Madness

Croatia Traffic Info

  • Due to rain the roads are wet and slippery in Dalmatia, in Istria, in Lika and Gorski kotar mountain areas, in the northern coastal area and in the central parts. Rock and land sliding is possible. Due to fog visibility is reduced in Gorski kotar - on the A6 Rijeka-Zagreb motorway between Kikovica and Tuhobić tunnel. During the day difficulties can be expected in roadwork areas. Drivers are invited to keep distance and to adjust the speed to road conditions. With the bad weather the headlights have to be on during the day as well. One lane is free only/traffic is flowing in reduced lanes on the following motorways:-A1 7th-8th km in direction Rijeka/Split; -A2 Zagreb-Macelj between Zaprešić and Zabok junctions 20th-18th km in both directions; -A3 Bregana-Lipovac between Kutina and Novska junctions 119th-120th km in both directions; -A6 Rijeka-Zagreb at Svilno viaduct 78th-80th km between Orehovica and Čavle junctions in each direction till 1 June; -A8 in Istria on the section Lupoglav-Učka tunnel. Roadworks on the A4 Zagreb-Goričan motorway (Zagreb detour road): - till 9 June traffic is suspended in the entrance lane of Kraljevečki Novaki from direction Sesvete and Dugo Selo towards Ivanja Reka junction, there is a local detour; in the roadwork area traffic is flowing in reduced lanes; - till 8 May traffic is suspended in the exit lane of Popovec junction from direction Goričan towards Popovec, detour for direction Vrbovec-Popovec: Sveta Helena junction (A4)-Sveta Helena-DC3 Goričica-Belovar-Žerjavinec-Soblinec-Popovec junction, for direction Goričan (A4)-Sveta Helena: Komin junction (A4)-DC3-Sveti Ivan Zelina-Donja Zelina-Žerjavinec-Soblinec-Popovec. Lepenica rest area (at 57th km) on the A6 Rijeka-Zagreb motorway is closed till 15 June, the previous rest area and petrol station is the one Ravna Gora (at 30th km), the next one Cernik-Čavle (17,8 km away from Lepenica). Due to roadworks traffic is suspended: -on the DC1 state road in Lučko and Stupnik (Zagreb); -on the DC8 Adriatic road at Posedarje; -on the DC6 state road, section Glina-Dvor border crossing, detour: Glina (DC37)-Petrinja-Hrvatska Kostajnica-Dvor. Traffic is regulated by traffic signals/one road lane is free only:-on the DC1 state road in Knin until 14 July; -on the DC1 state road at Klinča Sela, Tušilović and Mostanje; -on the DC1 Sinj-Klis Grlo state road at Dicmo; -on the DC8 Adriatic road on the section Kaštel Stari-Kaštel Gomilica, at Podstrana, on the section Zaton Doli-Bistrina, at Srebreno; -on the DC66 Pula-Most Raša state road; -on the DC75 Poreč detour road, section Vrvari-Bijela; -on the DC62 Veliki Prolog-Metković state road at Most Metković.
    Read more
  • During the day difficulties can be expected at the border crossings with Slovenia, Bosnia and Herzegovina and Hungary due to traffic density and occasional additional controls. Passenger traffic is dense at: -Kaštel (15 minutes) in the inbound direction, -Stara Gradiška (15 minutes) in the outbound direction. Bus traffic is heavy at Bregana (45 minutes) and Bajakovo (30 minutes) in the outbound direction. In the outbound freight traffic there are delays at Bregana (80 minutes), Bajakovo (2 hours) and Tovarnik (an hour), in the inbound at Bajakovo (2 hours). Due to roadworks at Županja and Slavonski Brod border crossings delays can be expected. At Harmica border crossing traffic is allowed for vehicles up to 7,5 tonnes only.
    Read more
  • The following ferries, catamarans and boats do not operate due to strong wind: -Lopar-Valbiska, Brestova-Porozina, Šibenik-Zlarin-Kaprije-Žirje ferries, -Mali Lošinj-Rijeka, Rijeka-Rab-Novalja, Ubli-Vela Luka-Hvar-Split, Korčula-Hvar-Split, Jelsa-Bol-Split, Vis-Split catamarans, -Mali Lošinj-Unije-Susak boat.
    Read more

Interview of the week

mod send your news

Photo galleries and videos