Croatian startups can soon land investments from a new Fund offering EUR 2,5 million. The Croatian Agency for SMEs, Innovations and Investments (HAMAG-BICRO) and the World Bank have the main roles in this project. They are launching a Seed Co-investment Fund directed towards innovative SMEs, which will be given conditional grants approved by private equity investors.
Image credit: investcroatia.hr
On April 12, HAMAG-BICRO presented the related project titled Venture Capital for Innovation and entrepreneurship – Project Component II: Seed Co-Investment Fund, financed by the World Bank. The event was held on the premises of HUB385 incubator and the opening speech was made by Mario Turalija, the Croatian deputy minister of business and trade. Attendees were introduced to the work and goals of the Fund, the target users and investors, and were given instructions on how to apply and benefit from this project.
According to the official announcement, eligible startup projects will be co-financed in the course of 2 years with amounts starting at EUR 30.000 and ranging to EUR 300.000. The Fund is to be quite flexible to the applicants’ needs as it will even allow them to partially or entirely move the headquarters of the company abroad, as reported by Poslovni.hr.