Touching base with the Croatian Startup Scene
As SpinLab is looking for new interesting startups to join our 12th class, we are expanding our network also to the near East.
We found a brand ambassador, helping us connect with the local startup ecosystem, whom we want to introduce in the following interview. Please meet Leon:
Could you please give me a short introduction to yourself?
Hi, my name is Leon Andrec, I am a mechatronics student and the co-founder of Crop Shepherd, an agri-tech startup developing an autonomous laser weed-killing robot.
How does the Startup scene in Croatia look like? Did it change in the past years?
It is very diverse and growing rapidly, featuring large companies like Infobip (the first Croatian unicorn), Rimac Automobili, Photomath, and Nanobit, incubators like ZICER, SPOCK (focused on students, scientists, and researchers), and BIRD (focused on AI), and even small but very successful companies like CircuitMess (ran 3 consecutive Kickstarter campaigns).
And what about investors?
Multiple investment funds are operating in Croatia: Fil Rouge Capital, Feelsgood Capital, Day One Capital, and many more. Startups can also get funding from social impact grants, R&D grants, and high-risk loans from HBOR bank.
What are the biggest hurdles for startups? What should be avoided?
The universal hurdle for very early-stage teams who haven’t yet registered a company seems to be getting a good understanding of the current market needs and getting clear proof that there are real buyers for their solution. Rushing into heavy development without doing proper market research is a big no-no.
What are your expectations of a partnership with SpinLab?
It should further motivate me to strengthen bonds with more early-stage startups and learn about the ecosystem. But on a fun note, SpinLab’s pledge to plant a tree for every applicant I refer to the program does make me feel like more of a treehugger than I already am, but I like that!
What would you recommend founders before founding a startup in Croatia?
Do your market research in a quantifiable and unbiased way, consolidate your team, and brace for the long and bumpy ride of bringing something new and beautiful to the world! Even if you fail, hey, you’ve learned something very valuable, and in this rapidly changing world, there is endless room for new ideas.