Wednesday, 24 April 2019

Croatia's ''Include'' Attracting Investment and Attention

When it comes to results, Croatia's Include published an impressive 115 percent growth in revenue in the first quarter of the year, and an average selling price growth of almost 40 percent.

As Tomislav Pili/Poslovni Dnevnik writes on the 23rd of April, 2019, one of the main stars of the Croatian startup scene, entrepreneur Ivan Mrvoš, is continuing to impress. Just two years after Include's first capitalisation through Funderbeam, recapitalisation is about to happen again, aiming this time at almost ten times the amount. Before today's public announcement of the campaign, Include's main man revealed that his company, which is a top Croatian manufacturer of solar powered benches, is collecting part of the finances through Funderbeam while the other part will be provided by private investors.

"After the successful first round of investment back in 2017, when we raised about 3.5 million kuna with a 30 million kuna valuation, we decided to enter a new round of recapitalisation. We didn't set a fixed amount, but we expect that the investment will be at least 20 million kuna, with the potential to reach approximately 30 million kuna. As for Funderbeam's part of the investment, we're expecting to raise about 10 million kuna through the platform,'' said Include's boss Ivan Mrvoš. At the moment, he has secured about 10 million kuna from the Funderbeam platform and is actively discussing the additional funds with several potential investors, including private individuals and venture capital funds.

"Right now, I can't say which investors are involved, but they're people who have led or are currently leading various Croatian industries, which we consider to be a significant indicator," he pointed out. When asked how much shares in Include now sell for and how much the company is valued at, Include's founder explained that things are a bit different now than they were back in 2017.

"The company has four years of business behind it and some remarkable results have come to fruition, so we decided to hire one of the companies from ''The Big Four'' to do a valuation. What I can say is that it was a very intensive process that lasted for several months, and the company was estimated at 110 million kuna last week,'' says Mrvoš.

"The company ended last year with a positive result, and we also continued things successfully during the first quarter of this year, with 60,000 kuna of net profit," Mrvoš revealed.

The collected money will certainly go into the development of existing markets, but also to conquering new markets.

"We intend to strengthen our presence on existing markets and continue to build a global distribution network. In addition, we're beginning with the development of new products that will be complementary for the existing markets, and intended for those same markets, and we'll also get some more advanced equipment for our development and production activities,'' explained the talented young entrepreneur.

The trading of Include's tokens at Funderbeam was stopped on April the 1st this year due to campaign preparation, and the latest market price is 3.5 euros. The director of Funderbeam Damir Bićanić explained that the price of the shares will not be one euro as they usually are in Funderbeam's campaigns, but higher, meaning more specifically that they'll reflect the company's new valuation.

The leading investor, as was the case in 2017, will be Ivana Šoljan who says that Include will certainly pass at least one recapitalisation, and "hopefully maybe go to the stock market in the future.''

"Mr Ivan Mrvoš and his whole team have advanced tremendously. Organisationally, they did well, they wrote regular reports to investors, they're not late with deliveries, they plan things smartly - they're ready for a new round,'' concluded Šoljan.

Make sure to follow our dedicated business and Made in Croatia pages for much more.

 

Click here for the original article by Tomislav Pili for Poslovni Dnevnik

Saturday, 20 April 2019

Croatian Startup and Entrepreneurship Discussion in Koprivnica

''The most important thing is to have a clear plan and a vision and to be persistent and never give up, because every good idea will find its way to a buyer,'' this was the message sent out to those thinking of becoming Croatian entrepreneurs.

As Ivan Tominac/Poslovni Dnevnik writes on the 18th of April, 2019, an event organised by Vecernji list and Poslovni dnevnik has the ultimate goal of which is the retention of young educated people in Croatia, and after Osijek, the event will move to Koprivnica, two continental Croatian regions which are often overlooked.

The event will include a tender for student development projects, round tables and forums entitled ''Future in Croatia'' which will be held across six Croatian cities in cooperation with six universities and a traveling exhibition to mark the the occasion of the 60th anniversary of Večernji list. In Koprivnica, the event will be held in cooperation with the North University on Tuesday at 10:00. Croatia's Minister of Tourism Gari Cappelli will give his view of Croatia and available opportunities, and before that, the event will be bringing two stories from Koprivnica that prove that you definitely can succeed in Croatia.

Boris Poljak, the owner of the Pobis company, noted at the very beginning of the conversation that entrepreneurship is not easy but challenging as the market does indeed offer countless possibilities, but whether or not we're successful is down to nobody and nothing but us.

"Being an entrepreneur depends on the person, and not on the place he's in. If one has the will and the desire to be an entrepreneur, then he won't care whether he's doing it in Croatia, Austria, Germany, or elsewhere," Boris Poljak said. For success, it's important to abide by the established plan and rules of the game, ie, certain legal frameworks.

According to him, young people aren't going straight into business today, but instead, they're moving into ''entrepreneurial waters'' because they want to ensure a secure existence for themselves. "The statistics on the opening and the closing of companies is proof of this. Unfortunately, many people don't succeed, but there are many who do succeed and who achieve excellent results here, and more and more are doing so internationally. Running your own business today doesn't require that much capital," Poljak stated with a short and clear message that says that without a clear plan and vision there can be no success.

"You have to work really hard with young people, they're most often not prepared for work and have a lot of prejudices towards employers," emphasised Poljak, adding that in his company he recognised that with the effort and investment poured into young people, he was creating quality staff who could compete on the world market level. Young people are increasingly involved in entrepreneurial ventures, and as a result, there are numerous startups popping up all the time across Croatia, leading to more tenders and investments.

Codebox managed to stumble upon such a welcome fat, the core activity of this organisation is the creation of personalised software, web design, computer equipment maintenance, and processing and data transfer. Martin Kolarić and Filip Stojić began on this path through a startup tender, and today they can safely say that it was a great opportunity to gain new experiences, try out their knowledge and skills and also have some fun.

"For all those who want to be successful, our advice is to work on themselves and their knowledge. A great deal of information is available to all of us and we have the opportunity of continuous learning and training. Innovation and creativity are the most important competencies today, which is why we need to work on our own improvement, this is the only path to real success,'' concluded Martin Kolarić.

Make sure to follow our dedicated business page for much more.

 

Click here for the original article by Ivan Tominac for Poslovni Dnevnik

Tuesday, 26 March 2019

Municipalities with Most Entrepreneurs in Croatia, Viškovo, Medulin and Matulji

As Adriano Milovan/Novac writes on the 26th of March, 2019, the Croatian municipalities with the largest number of entrepreneurs in the country are Viškovo, Medulin and Matulji, according to FINA's new data on the matter.

According to this new data, 584 entrepreneurs had their headquarters registered in the municipality of Viškovo near Rijeka back in 2017. Following is the municipality of Medulin in Istria, with 508 entrepreneurs having their headquarters located in this area, and the municipality of Matulji near Opatija, with 501 entrepreneurs having their headquarters there.

On the other hand, the smallest number of entrepreneurs (only one) were found in the municipality of Saborsko in Karlovac County. Of 428 Croatian municipalities taken into account according to the number of entrepreneurs based in their territory, Ervenik in Šibenik-Knin County had only two registered entrepreneurs, and Zadvarje in Split-Dalmatia County had a mere three.

In all Croatian municipalities in 2017, a total of 19,821 entrepreneurs had their headquarters in one area or another of the country. They employed a total of 119,787 workers, according to FINA's information. Although differences in the number of registered entrepreneurs among Croatian municipalities are huge and reflect major differences in the degree of development among them.

Only 39 Croatian municipalities had 100 and more entrepreneurs in 2017, according to Fina's data. Between 51 and 99 entrepreneurs could be found across 79 municipalities, and most of the municipalities, as many as 258 of them, boasted between 11 and 50 entrepreneurs. 36 municipalities had between six and 10 entrepreneurs, while 13 municipalities had four or five entrepreneurs. Only three municipalities, Fina's data shows, had just one to three entrepreneurs.

Entrepreneurs based in municipalities in 2017 realised revenues amounting to 72.8 billion kuna, representing significant growth of 9.7 percent. The expenditures of these companies back in 2017 rose by 10.2 percent. The consolidated net profit of these companies in 2017 stood at 2.8 billion kuna.

Back in 2017, these Croatian companies also achieved great growth in employment. Namely, with respect to the previous business year, employment grew by 7.4 percent, which is more than employment growth in urban businesses, which stood at 5.6 percent in the same period.

The largest number of employees, up to 4,353 in 2017, were employed by companies with their headquarters based in Trnovec Bartolovečki in Varaždin County. Following is the municipality of Stupnik in Zagreb County, with 3,855 employees, and Viškovo, with 2,367 employees in companies registered in the area of ​​that municipality.

Make sure to follow our dedicated business page for much more.

 

Click here for the original article by Adriano Milovan for Novac/Jutarnji

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