STARTUP ECOSYSTEM
Croatia Investment in key sectors
Croatia’s Investments in Technology and Education: Driving Innovation and Growth
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.
A notable project is the Vesna Deep Tech Venture Fund, launched in 2024 by the European Investment Fund (EIF) with €49 million in funding. This initiative focuses on supporting technology transfer, intellectual property protection, and the commercialization of research projects in Croatia and Slovenia.
In addition, the Croatian government is promoting strategic investment projects across various sectors, particularly in technology and education, to attract private investments. For instance, a €5 million agreement signed in 2024 with the Inter-American Development Bank (IDB) aims to extend school days in Croatia. This project is designed to improve and diversify learning opportunities for students across the region.
These efforts reflect Croatia’s strong commitment to fostering innovation, enhancing its educational landscape, and driving economic development.
Sources:
- Eurydice. (n.d.). Higher education funding in Croatia. Retrieved January 21, 2025.
- European Investment Fund. (2024). Croatian and Slovenian researchers gain innovation support with €49 million in EIF-led financing. Retrieved January 21, 2025.
- Invest in Croatia. (n.d.). Strategic investment projects. Retrieved January 21, 2025.
- World Bank. (2023). Public spending in Croatia on science, technology, and innovation. Retrieved January 21, 2025.
- Inter-American Development Bank. (n.d.). Croatia and IDB sign €5 million agreement to promote extended school day in the region. 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.