STARTUP ECOSYSTEM
Croatia Startup density
Croatia’s Growing Startup Ecosystem: A Regional Powerhouse
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. . While specific figures on the total number of startups in Croatia are not readily available, the country’s startup ecosystem is characterized by a diverse range of companies across various sectors, including technology, healthcare, and finance.
The combined valuation of these two companies accounts for 4.1% of Croatia’s national GDP, highlighting the significant contribution of startups to the country’s economy. In 2020, Infobip became the first Croatian unicorn, achieving a billion-dollar valuation. Subsequently, Rimac Automobili joined the ranks in 2022, further elevating Croatia’s status in the global startup arena. To support the burgeoning tech ecosystem, Croatia has introduced AI curricula for middle and high school students, aiming to cultivate a skilled workforce equipped for future technological advancements.
Sources:
- City of Rijeka. (n.d.). Rijeka moved 11 places in the StartupBlink global ranking. Retrieved January 21, 2025.
- The Recursive. (n.d.). How two unicorns pushed Croatia ahead of China in GDP share. 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.
