March the 18th, 2023 - Algebra LAB, one of the oldest startup incubators in Croatia, provides young innovators with a symbiotic ecosystem in which business ideas are continuously maturing for the 11th year in a row.

Despite investors' caution towards risky investments, as much as 958.3 million dollars were invested in domestic start-ups in the first three quarters of last year alone – it was concluded at the Algebra startup meetup, which was held at Algebra's Zagreb campus, in the Algebra Spark Event Space.

Algebra LAB, as one of the oldest startup incubators in Croatia, has had an uninterrupted series of incubator generations since 2012, thanks to the systematic support available to them in the innovation ecosystem that combines higher education with entrepreneurship: 

“At Algebra LAB, we try to ensure that both sides profit symbiotically in development - our students from the fact that their incubator is located in the building where they study and listen to lectures every day, and that they can find themselves in the world of entrepreneurship in a short period of time, and our start-ups from the fact that some of their mentors and lecturers work in the higher education system, which means that they are constantly at the source of new knowledge and information. In such a collaborative system that combines cutting-edge innovation and science with entrepreneurship, we see the key to getting out of every crisis, of which there has been no shortage in the last ten years. Algebra LAB has spawned many successful entrepreneurial stories today – Farseer, Velebit AI, Sport React. We invite all those who are thinking about starting their own business and need support on the way to the realization of an innovative idea to join the new incubator generation for which the enrollment cycle starts at the end of the year," said Maja Brkljačić, head of Algebra LAB.

Startup Report magazine was also presented at the event. "The appearance of unicorns, Infobip and Rimac, as well as big exits such as Nanobit and Gamepires, and now Photomath, encourage the growth of investors' interest in Croatian startups, so last year a record number of startups received investments. However, due to the war in Ukraine and the hectic exit from the pandemic, investments are less than before, although the situation in Croatia is still very good. It was the second best year so far," said Bernard Ivezić, editor of the magazine.

Four new venture capital funds are coming to the Croatian market. In the next five years, the amount of money that will be available for start-ups will be 10 times higher than it was in the past period – about 300 million euros. A lot of money also means big problems for funds that have to start competing for start-ups, which makes the entire ecosystem quite dynamic and competitive, especially in an environment of crisis and economic uncertainty.

The impact of the economic crisis and the crisis caused by Russia's aggression against Ukraine on the investment climate is not negligible, which was discussed at the panel discussion, along with Maja Brkljačić, by Matija Nakić, the founder of the Croatian fintech Farseer, which flourished in Algebra LAB, Miryana Joksović, co-founder of Arcion Labs and member of the ACAP Board, and veteran of the Croatian startup investment community Vedran Blagus, principal of the oldest Croatian VC fund, South Central Ventures. Representatives of the start-up scene had the opportunity to hear first-hand useful tips for surviving a turbulent social and economic environment, as well as the importance of leadership from experienced start-up founders:

„In a crisis, it is important to always lead by example, and this is what the leaders of every start-up should focus on. Investors expect this period to last 24 to 36 months. It is the most difficult for seed stage startups that are not in the portfolio, because for them the risks are the greatest, as well as the dependence on investors. This is precisely why good networking with potential investors is most important – my advice is not only to look at them, but also at their portfolio companies and the companies they are connected to, because building that network of acquaintances is the key to future success," said Miryana Joksović from Arcion Labs and referred to the recent layoffs in the tech community: "Most of those who were previously employed in large companies can hardly adapt to the start-up culture, so the question is how to connect these talents to the start-up ecosystem because they are used to different work standards atypical for the dynamics of small entrepreneurs who are just starting to build their companies.

 The fact that every crisis, including this one, can be an opportunity was seen by Matija Nakić, the founder of Farseer, on her own example: "Our process of getting the investment was not dramatic and we managed quickly. Investments have slowed down if we look at the environment, while in the last two years there has been a lot of capital and there has been a significant jump in employment and funding in IT companies. I love crises and I think they are a good opportunity to rethink yourself and your business model. People who left large IT companies like Google will surely find a job quickly because they have excellent knowledge and will return to the ecosystem and bring this new knowledge to young companies. I believe that we have an interesting couple of years ahead of us, especially with the growing influence of AI."

"In 2021 and 2022, capital was cheap not only for start-ups but also for funds. In the last quarter of 2022, there was a significant drop in investment. There is money, the investments have been shaken, but they have not stopped" – emphasized Vedran Blagus from South Central Ventures.

Despite the data on the reduced investment wave as a result of global economic events, the panelists agreed that the challenging period facing the domestic and global start-up scene is only a prelude to the continuation of the prosperous period. Namely, start-ups now face new challenges in the form of investments in research and development, as the basis of new innovations that can help overcome the crisis:

"As far as the activities and interests of start-ups are concerned – there has been no reduction, in fact there are more of them than ever before. There is a large number of applicants and those interested in our Lab, and the so-called scene or material fatigue does not exist, according to what we see – and that is the reaction to the events and the applications themselves, you can see the liveliness of the scene. In Croatia, there are more and more investment funds that heal the wound of the lack of early capital, such as Fil Rouge Capital and South Central Ventures, which enable start-ups not to think about money, but about their product or service they are developing. I see no reason for concern for the Croatian start-up scene, except for the caution required when hiring new people – especially when changing culture and moving to scale-up" – said Maja Brkljačić, head of Algebra LAB, adding that the number of 500-600 of startups from the beginning of last year, according to some estimates, rose to as many as 900 as estimated at the end of 2022, thus signaling that the start-up scene is growing despite unfavorable circumstances.

At the event, two start-ups from Algebra's LAB (EcoWashers and TablePop) presented their innovative ideas to the public through five-minute pitches. EcoWashers allows the user to order a vehicle wash on a smartphone in a few steps, and through the dry ecological washing system, it uses a unique nano-technology that is safe for the environment and a minimum amount of water. TablePop is a platform that allows guests to order and pay contactless in restaurants by simply scanning a QR code. In addition to them, the start-up IoTaaP presented its innovations and experienced member of the start-up and technology community Ivo Spigel presented his new fintech project Pontyx to the attendees.

Algebra Spark Event Space and Algebra Spark Coworking, an innovative and unique space in the western part of the city, was introduced to the audience by Hrvoje Josip Balen, a member of the Board: "Unlike other similar co-working spaces, Algebra's rooms are specially designed and focused on business development and the creation of an entrepreneurial microclimate suitable for serious companies that focus on business growth. Algebra's innovative space enables companies to organize larger or smaller business events, lectures, workshops, as well as a number of other private or commercial events with all the necessary infrastructure. Interested companies and individuals can also rent additional space of over 12,000 m2 within Algebra Rent Space, which includes top equipment and technology with the aim of achieving the maximum level of functionality - through the synergy of office spaces with Algebra LAB, as a scientific research center intended for small and start-up companies."

Algebra's Spark Coworking Space is also used by Matija Matija, a young start-up who designed the Lanke website, which shows all available new real estate projects in one place. Matija reflected on his stay in Algebra's offices: "I was most impressed by the location, which suits me because I myself am in the western part of the city, and on the other hand, the quality and equipment of the office, which contains everything I need in one place. Last, but not least – I appreciate the peace that the office space offers, which I need to focus on work, which I'm not sure I would find in other similar coworking spaces in Zagreb."

Due to their focus on innovation in business, start-ups are one of the segments of the economy that will significantly influence the future development of the entire society, and their role is not only in their own progress, but also have the potential to significantly accelerate the growth of other economic branches. Today, start-ups are not limited only to the IT sector, but also appear in agriculture, hospitality industry, and banking, where they help accelerate the growth of entire ecosystems, and their incidence in Croatia is growing year by year, which, in addition to private investors, is mostly contributed by incubators such as Algebra LAB -a, who provide them with support in the early stages and beginnings of business ideas.

For more, check out our news section.

March 18, 2023 - On Friday, the Zagreb police, in cooperation with the city's tourist board, presented an English language manual, as part of a project aimed at improving foreign languages and knowledge of the city of police officers who encounter tourists in their work.

As 24Sata writes, the project aims to improve foreign language competency related to police work, but also to the city of Zagreb and its historical, cultural sights, gastronomic offer, traffic and general information, so that the police officers can communicate with foreign tourists and help them feel good in Croatia's capital.

The project has been carried out continuously since 2018 as a form of partnership between the Police Administration and the Tourist Board of the City of Zagreb, with previous successful partnerships for the "Advent" and "Safe Tourist Destination" projects, in which Croatian police officers conducted joint police patrols with foreign colleagues.

The final product of the project is a manual that was presented on Friday, called "Excuse me, officer, how do I get to St. Mark's square?", signed by Dora Fila Petković and Patrick Burton.

"This project is a true model of successful and fruitful cooperation for the benefit of the citizens and visitors of Zagreb, but at the same time an example of good practice and partnership between the police and the tourism sector for other cities that can apply this proven model in their area as well", said the State Secretary at the Ministry of the Interior affairs, Irena Petrijevčanin.

The State Secretary of the Ministry of Tourism and Sports Josip Pavić, congratulating all participants and attendees of the course, emphasized that it is a commendable project that will increase the sense of security for tourists in Croatia and provide added value to tourism in the country.

"We see on the ground that the relationship, communication and coordination with tourists by the officers of the Zagreb Police Department is at an enviable level and we hope that this project will be recognized by other counties as well2, said the director of the Tourist Board of the City of Zagreb, Martina Bienenfeld.

Cooperation between the Zagreb police and the tourist board will continue in the coming period with the implementation of new courses in English, with a German course and the creation of a manual for that language following.

For more, make sure to check out our dedicated News section.

March 18, 2023 - Today's Zagreb protest has been organized by the Croatian Medical Chamber, the Croatian Medical Union, the Croatian Association of Hospital Doctors, the Coordination of Croatian Family Medicine and the Initiative of Young Doctors after a survey showed the great dissatisfaction of doctors in public health, and their readiness to go on strike.

As 24Sata writes, Croatian doctors are dissatisfied because the Ministry of Health has not met their demands and is not solving the accumulated problems in the system.

Zagreb protest should be kicking off at Dr. Franjo Tuđman Square at 10:45 a.m. with a march along Ilica to Ban Jelačić Square, then St. Mark's Square. The planned arrival at St. Mark's Square is at 11:30 a.m., where the main part of the protest will begin at 12:05 p.m.

The organizers announced the largest protest of medical staff so far, expecting a large turnout from all parts of the country.

"The protest is not directed against anyone, it is a protest for better conditions for doctors, for a better health system and ultimately for patients. We invite the officials of the political parties not to come to Mark's Square tomorrow so that the protest is not politicized", said the president of the Croatian Medical Chamber Krešimir Luetić.

The protesters are asking the Prime Minister and the Government to urgently equalize the coefficients of the complexity of the jobs of specialists with narrow specialists, doctors in primary health care with hospital doctors, as well as to increase the coefficients for specialists by at least 10 percent.

They are also asking for the adoption of a law on the labor-legal status of doctors by the end of the spring session of the Parliament, harmonization of the work of doctors at all levels of health care with time-staff norms, and the abolition of "employee" contracts for doctor specializations.

They state that every third young doctor leaves the country, more than 50 municipalities have no primary care doctors, and the health system currently lacks 2,000 doctors and 4,000 nurses. Every third doctor in the system is over 50 years old, and patients have to wait up to 600 days for individual examinations.

Dissatisfied doctors emphasize overload and poor working conditions, inefficient management in the system, devastation of primary health care, non-existent health care reform and continuous ignoring of their requests.

They believe that their requests have exceeded the level of the relevant ministry, so they will send them directly to Prime Minister Andrej Plenković and the Government. The protest is taking place only a day after the key health laws were passed in the Parliament, which, according to the announcements of Minister Vili Beroš, will initiate a structural reform of the system.

In recent days, Beroš has repeated several times that the protest is legitimate, but it is not the way to solve the problem.

He said that doctors are protesting for their material rights even though, in the opinion of many citizens, they "live very well", that their incomes have increased by 43 percent since 2016, and more than 2,000 doctors have a higher salary than the prime minister.

He added that he does not deny that there are problems in the system, but, he says, they should be discussed.

"Good will is needed for an agreement, not a conversation with hidden intents, it is necessary to offer sustainable solutions", he said, warning of a sincere lack of desire and will to resolve things through negotiations and discussion.

Beroš was previously supported by the Croatian Medical Association, the Croatian Association of Family Physicians and the Association of Healthcare Employers (UPUZ). The director of UPUZ, Dražen Jurković, called the protest a "putschist method", and specifically questioned the appropriateness of the participation of certain associations that have public powers, alluding to the Medical Chamber.

For more, make sure to check out our dedicated News section.

March 18, 2023 - Inflation in the Eurozone weakened slightly in February, the European Statistical Office confirmed on Friday, and price increases saw a slight slowdown in the European Union as well. The Croatia inflation rate for February, though, still placed the country among the Eurozone countries with a double-digit rate.

As Index writes, Eurostat confirmed the estimate of 8.5 percent growth in consumer prices in the eurozone in February, expressed by the harmonized index of consumer prices (HICP). In January, they increased by 8.6 percent.

Rising food and energy prices have been the main drivers of price growth

At the monthly level, consumer prices increased by 0.8 percent compared to January, when there was a decrease of 0.2 percent, Eurostat confirmed.

The main driver of price growth was the increase in food and energy prices. At the EU level, the harmonized index of consumer prices showed their growth in February of 9.9 percent compared to the same month last year, after a 10 percent increase in January.

On a monthly basis, prices rose by 0.8 percent in February, after a 0.2 percent increase in the first month of this year.

Croatia in the group of Eurozone countries with a double-digit inflation rate in February

Among EU countries that are not members of the eurozone, prices in Hungary increased by far the most on an annual basis, by 25.8 percent compared to last year's February. In Poland, the largest economy in that group, the prices increased by 17.2 percent according to preliminary data.

Among the eurozone members, the highest inflation rates were recorded by the Baltic countries, so in Latvia it was 20.1 percent, and in Estonia and Lithuania 17.8 and 17.2 percent, respectively.

Croatia is also in the group of eurozone countries with a double-digit inflation rate in February, at 11.7 percent, as indicated by the harmonized consumer price index.

For more, make sure to check out our dedicated News section.

March 18, 2023 - An evening of huge positivity at Lauba in Zagreb on Thursday, as Vjekoslav Majetic, CEO of DOK-ING, wins the EY Entrepreneur of the Year Award for Croatia. 

About 5 years ago, soon after we moved to Varazdin, I got a phone call from Nenad Bakic, the serial entrepreneur who at the time was trying to resurrect the fortunes of the Varteks clothing company in the city. We met for a coffee, and after paying some very generous compliments about TCN, he asked how he could help with advice to grow my business. It was a very stimulating chat, and I appreciated all he suggested. He is a much smarter man than me. 

"And I want to show you a snapshot of Croatia that you have not seen, and one you will like and that will inspire you," he concluded. "I will arrange for you to come to the EY Entrepreneur of the Year award in Lauba in Zagreb. "There you will see the future of Croatia, a room full of positivity, of entrepreneurs working for a better Croatia."

And so it was that I entered a room filled with 300 of the most successful people in Croatia, coming together for a gala dinner to celebrate the best of their own. That year, some chap called Mate Rimac won the award for Entrepreneur of the Year. The year after, Infobip. And soon after they became the first two Croatian unicorns. 

EY kindly invited me again this year for an outstanding event, as well as two other foreign entrepreneurs (both way more successful than me) - Polish EU funds specialist Natalia Zielinska from Ogulin, and some Dutch wannabe tomato grower from Split, Jan de Jong. 

As he does on occasions like these, young Rimac came over to greet in his words 'my favourite fat Brit' before telling me that not only has he ordered our book, Croatia, a Survival Kit for Foreigners but that he sleeps next to it but has not had time to read it. Which prompted Ms. Zielenska to come up with the above quip, which tickled Mate enough to share it. 

But the night belonged to Vjekoslac Matejic, the pioneering CEO of DOK-ING. Rather than reinvent the wheel, here are more details in the press release below. Many thanks to Bero Horvat and all the EY team for such as exceptional event once again. Hope for Hrvatska 2.0. Below, the moment Vjekoslav Matejic was pronounced the winner. 

Zagreb, March 17th, 2023. – Innovator, founder and owner of the DOK-ING company, Vjekoslav Majetić, won the prestigious EY Entrepreneur of the Year 2022 award last night in Zagreb.

EY Entrepreneur of the Year celebrates unstoppable and daring visionaries whose success inspires others, creates new jobs, drives progress and redefines the way we live and work. DOK-ING, headed by the owner Majetić, has been saving human lives in dangerous environments around the world for more than 31 years with its innovations and new technologies. The company is present in 40 countries around the world and is a pioneer in the production of robotic and autonomous systems and equipment for special purposes. Vjekoslav Majetić, with a strong vision and indescribable will, designed and innovated the world’s most famous demining machine, which today dominates with 80% of the global market share.

Vjekoslav Majetić, innovator, owner and founder of the DOK-ING company, when receiving the prestigious awards said:

“It’s hard to get to the top, and believe me, it’s even harder to stay. I thank everyone who understands that we are part of the world scene, and that we are not just part of Croatia. Thank you to those who share with us the opinion that we must live in a more beautiful, safer and better world.”

In the company production hall, the so-called labyrinth of innovations and ideas, which is located in Zagreb’s Žitnjak, has produced numerous remotely controlled machines, some of which are electric, and behind which is a team of top engineers. In more than 30 years of business, the company has been recognized for changing the industrial landscape with an innovative approach and has won more than a hundred international awards in the fields of business, innovation and technology. The company’s agility has also been proven in numerous collaborations with business partners whose needs and wishes the company has responded to with tailor-made products. In the last few years, DOK-ING has launched an internal technological start-up that is working on the development of a new waste disposal facility in a very environmentally friendly way. At the same time, it is also economically profitable, considering the products it generates, which can be further used.

You can visit the DOK-ING website here.

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March 17, 2023 - Are you looking for ideas on how to spend your early spring weekend in Zagreb? Shopping malls and restaurants might seem like a waste of time for the lovely, sunny days ahead. Ideally, you would spend some time in nature, physically active and enjoying the fresh air. What better way to do that than some hiking, and what better location than Zagreb's own Medvednica? And with the clean-up campaign that is going to take place there, volunteers and associations are making sure that it's nicer, healthier, and more enjoyable for us all.

As 24Sata writes, the spring clean-up campaign on Medvednica will take place on Saturday from 9 am to 2 pm in several locations, and a large number of hikers and associations will participate, it was announced on Thursday at the Medvednica Nature Park Public Institution.

The campaign will take place in four locations - Talani, Vila Rebar, Zelena magistrala (Ramp for Sopot Waterfall, Ponikve), and Sveti Matej in the Park area in Krapina-Zagorje County.

"By removing and disposing of waste, we will contribute to raising awareness and a positive attitude towards our Park, as we have been doing continuously for many years. Together, we can contribute to a more beautiful and cleaner environment, to the preservation of biodiversity, and to greater satisfaction of all visitors to Medvednica", said the director of the institution, Marina Popijač.

This week, in cooperation with Croatian Forests (Hrvatske šume), several locations were cleaned to prepare them for more efficient waste removal, including Vejalnica, the area near Pustakova street, Gornje Vrapče, the entrance to the trail to Ferendol and Mali potok.

The Medvednica cleaning campaign takes place every spring in partnership with Croatian Forests, the Croatian Forest Society, the City of Zagreb, the company Čistoća, and the Municipality of Gornja Stubica.

For more, make sure to check out our dedicated News section.

March 17, 2023 - Last year, one of the most influential wine magazines in the USA, Wine Enthusiast, rated the Croatian wine Ernest Tolj Dingač of the Saints Hills winery with a high 97 points, but this year's 99 out of 100 points put it at the very top of the world, joining the elite club.

As Punkufer writes, this recognition for this Croatian wine is all the greater because it is a local variety, Plavac Mali, which is increasingly recognized and appreciated globally. Small yields, great steepness, triple insolation (from the sun, sea, and stone), pure manual processing, and, along with limestone and red earth, an abundance of quartz are just some of the specifics of the unique terroir to which this wine owes its qualities. Special efforts are invested in the production as well. After the manual selection of the grapes, fermentation in barrique is followed by two years in oak barrels so that the tannins would further round out and soften. Then comes aging in special dark glass bottles decorated with the winery's motifs.

Ernest Tolj Dingač 2019 is a limited series of humanitarian wines, and the Saints Hills winery donates all the money from the sales to children in need. It was founded in 2006, and the vineyards in Dalmatia and Istria are named after the children of the owners Ivana and Ernest Tolj.

Adding to them the prefix of saints, the vineyard of St. Lucia in the Dingač region, the vineyard of St. Ante in western Istria, and St. Roko in Komarna are actual proof that this family shapes the gifts of the land in the best possible way - providing true wine lovers with unique tastes.

"Our hearts are full that every year, through our Saints Hills for Kids foundation, we can help those who need help the most. With great enthusiasm, we pick every grape of Plavac Mali to become humanitarian wine ET Dingač. A limited series of only a few hundred bottles are available to wine lovers every year with the same noble mission: to make the world a better place," said Ivana and Ernest Tolj, owners of the Saints Hills winery, and add:

"Just as we try to be an example to our children and help them on their life paths, we want to do the same for those children who do not have adequate care, protection, and love. That is why every drop of Ernest Tolj Dingač is woven with the greatest emotion every human needs - from the youngest to the oldest."

On the Saints Hills winery website, 99 of the total 800 bottles of Ernest Tolj Dingač 2019 are available for sale, and delivery is expected in June. All proceeds from this top Croatian wine are intended for the most vulnerable groups through the Saints Hills for Kids Foundation, just as in previous years.

For more, make sure to check out our dedicated News section.

March 17, 2023 - This partnership allows low-risk Croatian nationals with prior approval to apply for membership in the Global Entry program and thus become trusted travelers to ensure faster entry into the US.

As 24Sata writes, Croatia has successfully completed all the necessary prerequisites to become a full partner in the Global Entry program, thus joining the growing list of 14 other partner countries in the Global Entry program, which includes the Republic of Argentina, the Republic of Colombia, the Federal Republic of Germany, the Republic of India, the United Mexico States, the Netherlands, the Republic of Panama, the Republic of Korea, the Republic of Singapore, the Swiss Confederation, Taiwan, the Federal Republic of Brazil, the Kingdom of Bahrain and the United Kingdom of Great Britain and Northern Ireland, the Ministry of the Interior announced.

The full partnership of the Republic of Croatia in the Global Entry program followed shortly after the fulfillment of all political and security requirements for joining the American visa exemption program, of which the Republic of Croatia became a member in October 2021 after several years of joint preparations.

This partnership allows low-risk Croatian nationals with prior approval to apply for membership in the Global Entry program and thus become trusted travelers for faster entry into the United States for tourism or business purposes. Thus, citizens of the Republic of Croatia can start submitting requests to join the Global Entry program from March 16, 2023.

This announcement is another proof of the continued commitment of the Republic of Croatia and the United States of America to the further development of already excellent relations between the two countries by providing benefits to their citizens in a way that facilitates travel and trade while simultaneously strengthening the security of both countries, according to the Croatian Ministry of Interior.

The Global Entry program is one of the four branches of the Trusted Traveler program, which allows low-risk, pre-approved travelers to be screened more quickly when arriving at airports in the United States. Users enter the United States through automated kiosks located at numerous airports within the United States and at screening locations around the world.

For more, make sure to check out our dedicated News section.