STARTUP ECOSYSTEM
Croatia Funding volume
Croatia’s Venture Capital Growth: A Regional Leader
Croatia’s VC landscape has seen remarkable growth, with investments reaching €985 million in 2022—a 40% annual growth rate over five years. Key deals, like Rimac Automobili’s $500 million investment, have bolstered this growth. With VC investments accounting for 0.65% of GDP, Croatia outperforms the CEE average, solidifying its position as a regional leader in venture funding.
Croatia’s venture capital (VC) landscape has experienced notable growth in recent years, with significant increases in both total investment volumes and average investment sizes. In 2022 Croatia’s VC investments reached approximately €985 million, marking a substantial increase from previous years. In 2021 Investments amounted to €320 million, indicating a 40% compound annual growth rate over the past five years.
While specific average investment sizes are not detailed in the available sources, the substantial total investment figures suggest that individual investments can vary widely, ranging from early-stage funding to significant growth capital rounds. The emergence of companies like Rimac Automobili, which secured a $500 million investment in 2022, has significantly boosted the total investment figures. Croatia’s VC investments accounted for 0.65% of its GDP in 2022, surpassing the Central and Eastern European (CEE) average of 0.131%.
Sources:
- Total Croatia News. (n.d.). Croatian venture capital investments. Retrieved January 21, 2025.
- CVCA. (n.d.). BestInvest: Croatia is five times better than the CEE region average in attracting private equity and venture capital investments. Retrieved January 21, 2025.
Croatia Investment in key sectors
Croatia has significantly increased its public spending on research and development (R&D), with an annual budget now reaching €350 million. This marks a substantial rise from approximately €260 million per year in 2013. However, this spending is still about half of the European Union's per capita average. To support innovation and economic growth, Croatia has introduced several initiatives aimed at strengthening its technology and education sectors.
Croatia Startup density
Croatia's startup ecosystem ranks 44th globally and 26th in Eastern Europe, reflecting its rising prominence. Startups like unicorns Infobip and Rimac Automobili contribute significantly, accounting for 4.1% of the national GDP. Diverse sectors, government support, and AI-focused education initiatives are driving innovation and shaping Croatia's tech-driven future. Croatia's startup ecosystem has experienced significant growth in recent years, positioning itself as a notable player in the Central and Eastern European (CEE) region. As of 2024, Croatia ranks 44th globally in terms of startup ecosystems, reflecting its growing influence in the international startup landscape. Within Eastern Europe, Croatia holds the 26th position, indicating a competitive standing among neighboring countries.
Croatia Funding volume
Croatia’s VC landscape has seen remarkable growth, with investments reaching €985 million in 2022—a 40% annual growth rate over five years. Key deals, like Rimac Automobili's $500 million investment, have bolstered this growth. With VC investments accounting for 0.65% of GDP, Croatia outperforms the CEE average, solidifying its position as a regional leader in venture funding.
Croatia Export/Import Ratio
In 2023, Croatia's high-technology exports reached $1.74 billion, highlighting the country’s growing role in the global technology market. While data on high-technology imports is limited, these exports reflect Croatia’s integration into the global economy and its focus on technology-driven growth.
Croatia Innovation index
Croatia's R&D expenditures have steadily increased, reaching 1.43% of GDP in 2022, reflecting a commitment to fostering innovation and technological advancement. While specific data on patent filings is limited, ongoing investments in R&D underscore the nation's focus on enhancing its innovation capacity.