March the 28th, 2023 - The recently held Invento Summit in Zagreb brought together the leaders of Croatian startups and others from the world of investment and technology, including Photomath's creator, Damir Sabol.
As Suzana Varosanec/Poslovni Dnevnik writes, over the last decade or so, the Croatian startup ecosystem has changed an enormous amount, and while young entrepreneurs used to depend on themselves and themselves only, they can now count on advice, mentorship and even money from those who have succeeded, and there are no longer so few of those here in Croatia.
Damir Sabol, currently the most talked about entrepreneur in the entire country, who is waiting for regulatory approval of the sale of his third company - Photomath - to the global giant Google, said from the Invento Summit that after the sale, the approval process of which is quite arduous, he plans to help others.
"I see myself helping other people achieve what they want," Sabol said, noting that everyone expects him to do something, and contrary to expectations, he believes that the time has come to dedicate himself to others. The power of giving back was also the motto of the Invento Summit regional conference, which gathered more than 200 experts in technology, business development and investments in Zagreb on Friday.
Sabol, one of the conference panelists, certainly has an awful lot of skill to pass on. He has been in the world of entrepreneurship practically since his student days, and as he recalled, when he told his colleagues from FER that he was going to found his own company, nobody believed him.
"The prevailing attitude was that you can get a job and work for others, but not that you can found your own company. We have to change that," emphasised the founder of Photomath. He also noted that we must work on better communication. "Americans know how to communicate well, which is very important and that's their advantage. In this country, on the other hand, neither the education system nor employers insist on having proper communication skills,'' stated Sabol, who continued in his belief that ideas should be shared and not merely kept to oneself.
Although the idea itself doesn't have to be crucial for success, it was not so in the case of Albert Gajsak, the well known 24-year-old founder of CircuitMess.
"He had an idea, but no plan on how to realise it,'' Tomislav Car, the co-founder of Infinum, and today the director of Productive, recalled the beginnings of this young and successful entrepreneur. Car is otherwise the only investor in Gajsak's idea, as well as the mentor of the business, which turned out to be a good and smart move, because CircuitMess currently generates revenues of 2.3 million dUD ollars and cooperates with Walmart, the largest retail chain in the entire world. This collaboration began when Car decided to pay for a plane ticket for a then young high school student, Albert Gajsak to go to a European robotics competition.
"My parents didn't have money for that ticket, so I sent emails to all the IT companies I knew, asking them to help me out," recalled Gajsak, who was bored with school because there weren't enough practical exercises for him to engage in. That was also his motive to start a private business, the product of which is STEM toys.
In addition to CircuitMess, Car also invested money and time in Rentlio, he said at the Invento Summit. It is important, he believes, that young people have a role model and that they understand that a lot can be achieved with a bit of hard work.
"I have a nice car, so when children stop me and ask how I got it, I tell them that they have to study and go to school, and they don't believe me. In Croatia, the prevailing opinion is that only politicians and thieves can drive a nice car," stated Car.
Sharing knowledge, and then money, was also the motive of the entrepreneurs who founded the Slovenian VC fund Silicon Gardens. Gregor Rebolj said that it is in their interest to help young entrepreneurs out. "When we help, we don't ask for anything in return except that they also help themselves and don't turn their backs on their ideas," he stated.
For more, check out our business section.
December the 8th, 2022 - Croatian innovator Albert Gajsak's product, which is made right here in Croatia, has ended up across the pond on the shelves of American stores.
As Poslovni Dnevnik writes, young Croatian innovator Albert Gajsak of Circuitmess was a recent guest on N1 television where he talked about breaking into the challenging American market of educational toys. This rather remarkable entrepreneur explained how his Croatian product ended up on the shelves of one of the largest US retail chains of all - Walmart.
"We produce electronic devices that serve to educate children, such as legos with electronics. So, people receive it when it's disassembled and have to put the toy back together, while the children get to learn something about electronics along the way," explained Gajsak.
One of the products that will be on shelves across the USA is Cheter. "It's a set of devices that look like small mobile phones, through which children can send messages to each other, but in doing so they create their own "network" while the kids learn a thing or two about encryption," stated Gajsak. When parents buy it for them, it comes in parts and then the children have to put it together themselves.
"The children can exchange messages between two or more devices and connect to a chat group. But the point is that it can be connected to a computer and programmed, which is what our application (app) exists for," he said.
Croatian innovator Albert Gajsak produces his devices right here at home in Croatia, and said that it's great that he not only produces it here, but also designs the hardware, software, appearance and packaging within Croatian borders as well, making it a true Croatian-made product.
He explained how Walmart contacted him during a campaign, adding that it took three years to assemble so many devices to enter the American market and explained that he had to solve a lot of administration issues and logistical problems in order to be able to place the product successfully on the American market.
"It's interesting to note that our campaign was covered by numerous American media such as Forbes, and that's probably when they saw our product in Walmart, which caught their attention," explained the talented Croatian innovator Albert Gajsak.
"The whole point of our brand is that we create different electronic devices that teach children about all kinds of different topics, from wireless communication, computer vision and so on," he explained, adding that the plan is now to continue cooperation with Walmart. The US retail price is otherwise, $99, a price recommended by Walmart itself.
He explained that they manage to withstand the shortage of chips and semiconductors on the market and added that the problem is, as it is with most other companies at this moment in time, finding labour.
"It's always difficult to find people who are professional, hardworking and want to work, but we do manage somehow. The best thing is that we have full creative control over the production process. From the idea to the final product itself, it's all our own,'' noted Gajsak, who added that he tries to be competitive with the wages he pays his staff in order to attract good employees.
For more, check out our business section.
October 5, 2021 - CircuitMess Batmobile is the new DIY product made by a Croatian company which has made a name for itself by making products that promote STEM technology.
From ''do it yourself'' (DIY) videogame consoles, to DIY mobile phones, DIY DJ sets and much more, the Croatian company CircuitMess has well and truly made name for itself internationally.
Led by 22-year old entrepreneur Albert Gajšak, this company creates products which don't just provide fun, but also education about electronics and programming with hopes to popularise the STEM area (science, technology, engineering, and mathematics) for younger generations. With the need on the market growing ever larger, but with the lack of interest for the field, CircuitMess want to both entertain and direct kids to STEM and show that it isn't dull, nor does it have to be tough.
As with previous products which were supported by Kickstarter, a web platform where people can propose their ideas and get financial support their projects (through crowdfunding campaigns), and this is the case with their next big product: The Circuitmess Batmobile.
© CircuitMess
This new edition, a small robotic car that drives around autonomously using AI and machine learning was presented by Gajšak himself at a press conference at CircuitMess on October 5, just as the kickstarter campaign was officialy launched. The campaign will last until December 4, and at the time of writing this article, the very same day it started, the campaign had received am amazing 70,178 US dollars. This result with 476 backers in just a few hours is even more fantastic when you see that the initial goal was a mere 15,000 dollars. With 59 more days of the campaign still to go, things seem to be going in the right direction.
''The Circuitmess Batmobile has one camera, and a processor that will allow for machine learning so it can memorise visual cards or a ball (part of the package) and much more. Batman is a superhero who has no superpowers, instead, he has technology with which he saves Gotham. This is line with what we try to promote and show children. You can be like Batman, if you use your hands and learn,'' explained Gajšak at the press conference.
The work on the CircuitMess Batmobile lasted for around two years, and the project was pitched to and approved by none other than the globally famous and respected Warner Bros company. When asked about the design (black with a distinctive bat-head on the front), Gajšak mysteriously said they had various ideas for the design which will be recognised by Batman fans. A little later, he confirmed for TCN that their inspirations included the 1992 animated series and a ''Batman Rebirth'' comicbook from 2016.
''By landing this cooperation with Warner Bros, we hope to show that CircuitMess is no longer a small company,'' said Gajšak The company indeed grew with around 50 partners that distribute CircuitMess products worldwide either through webshops or in physical stores. Over 52,000 of their products have so far been sold globally, mostly in the USA, UK, New Zealand, Singapore and Australia.
Whether the Batmobile will be the coolest product made by CircuitMess is yet to be seen (although the kickstarter results look promising), but it's definitely the easiest product for the user to assemble so far. Suitable for kids over six years of age, this product has magnetic connectors and requires no soldering.
''People sometimes get scared when they need to solder our products because they worry that it could be dangerous or just for professionals. So, here we have magnetic connectors. We'll see how they will do and perhaps open up some room for more creativity in the future. So far, when a CircuitMess Product, for example, gives you instructions to build a game console, you have to end up building a game console. But when I was a kid and I played with Lego, I followed the instructions to some point, then I ended up building something completely different. With magnetic connectors, there's a chance for that, too,'' explained Gajšak.
However, the success of the Circuitmess Batmobile will determine whether or not magnetic connectors will be used in next products made by the company.
Even though the easiest DIY product (estimated to take 60 minutes to be built and then you're onto programming and playing), Gajšak pointed out it will not be boring for those who want more. An additional ''Inventor pack'' has more components and even more possibiliters are presented in the ''Ultimate pack'' for the pros.
Along with the excitment of presenting the CircuitMess Batmobile, Gajšak also used the press conference to point out the problem of crowdfunding in Croatia.
''We're using a mediator in the US for our kickstarter campaigns becuase we have no access to kickstarter in Croatia. Croatia is part of the EU so there's no reason for it to be that way,'' complained Gajšak, hoping to see change and the allowance for both CircuitMess and other entrepreneurs in the country to propose and get support for their projects with more ease.
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Following a crowdfunding campaign that raised $100.000, a young Croatian startup is about to conquer the international scene with their innovative product