Through a project worth 45 million kuna and with welcome co-financing from the European Union, an innovative new product involving Slavonian oak doors is currently being developed in Vinkovci.

As Suzana Varosanec/Poslovni Dnevnik writes on the 11th of March, 2019, Vinkovci's Spačva wood industry, with its 865 employees, is going from strength to strength

Last year, the industry achieved fifteen percent higher revenues than it did back in 2017, and the same positive trend is set to continue throughout 2019. With a net profit of seven million kuna in 2017, Spačva's profit in 2018 was higher than fifteen million kuna.

A new phase of development, based on innovation and further competitiveness, has now been launched, and our struggle for raw material is going to lead us to the abandonment of the unlawful distribution of raw materials which is breaking the market and the transition to a market model,'' Spačva's Josip Faletar said, adding that the majority of the wood and the processing of it would be done in Slavonia, and in that case, the Vinkovci-based Spačva would employ 200 new workers in a boost to Slavonia's dwindling economy.

The company has been deprived of its old, burdensome commitments, and since last year it has been primarily focused on development projects, two of which are currently under way, and they're also preparing other new projects, which are of an innovative character and have been carefully developed in close cooperation with the scientific community.

The largest project in progress is worth 45 million kuna and is being co-financed by the EU, the project in question is the development of a new product made from sturdy Slavonian oak, which, with its charm, looks and high quality would likely easily conquer the demanding European market. This project has been in the works for four years now and is going according to plan, said Faletar, and along with experts from Spačva, a dozen scientists from the Zagreb and Osijek forestry faculties are also working hard on it.

Moreover, by the end of this year, Vinkovci's Spačva will announce the completion of a project worth more than 30 millio kuna which has been financed entirely from its own sources and loans. Namely, the company plans to achieve better raw material utilisation, at higher speeds and with greater flexibility in the process of tailoring customer requirements to the EU's single market.

Revenues from this Vinkovci company's sales in 2018 amounted to close to 230 million kuna, out of which on foreign markets in thirty countries, sales amounted to 73.08 percent, in the amount of 167.6 million kuna. The most important export countries are Italy, Serbia, France, Germany, and Romania. In the period from 2013 to 2018, Vinkovci's Spačva invested more than 100 million kuna into its machinery, equipment and infrastructure, and in 2019 it plans to invest a further 50 million kuna.

Make sure to follow our dedicated business page for much more on doing business in Croatia and the overall investment climate in various sectors within the country.

Click here for the original article by Suzana Varosanec on Poslovni Dnevnik

One of the most famous symbols of Krapinske Toplice has been stood neglected and entirely abandoned for years, but could a young German who is partly of Croatian origin who moved to the area a couple of years ago be the solution this old continental gem needs?

As Poslovni Dnevnik writes on the 5th of March, 2019, David Krauss (35) moved to Croatia, more specifically to beautiful Krapinske Toplice in the continental part of the country, just over two years ago. He decided to invest in the renewal of the long abandoned Bellevue and restore its former glory. The technical review has been announced for March the 7th, after which, Zagorje will get a new face in its blossoming tourism story, according to a report from Zagorje portal.

A relatively short (at least by Croatian standards) fifteen months of construction work and two years of preparation of the project saw one of the most famous symbols of Krapinske Toplice, Restaurant Bellevue, get some new life breathed into it and a brand new beginning. A young German of the Croatian Roots, 35 year old David Kraus has been coming to Krapinske Toplice for years to the property once owned by his parents.

"My mother is Croatian and my father is a German, and we always said that we were so sorry that such a beautiful building is collapsing, so I decided to start investing," Krauss told the Zagorje portal, adding that they wanted to give the building a modern twist but remain loyal to the facility's old outlines.

The old facility, due to the very poor condition it has been in for a long time, unfortunately had to be completely demolished, even though that certainly wasn't the original plan. Namely, during construction, the walls they thought they would endure the process began to fail, so the decision to demolish everything for safety reasons was reached. Despite this, some of the old material and clay were preserved to fit into the new facility.

Restaurant Bellevue's investment was realised entirely by the Krauss family alone, and although the young investor didn't want to talk too much about the exact amount he invested, he noted that it was a large figure. He is not sorry for the move, having replaced his life in Germany for that in the beautiful rolling hills of green Zagorje, where he has been living for more than two years. He is also trained and experienced in the hospitality industry and is more than happy to work a job in the profession in which he was educated here in Croatia, too.

"For the time being, we have thirteen employees, mostly made up of the local population, which I think is very important if you're in the hospitality industry because they know the area you're in well, the customs, gastronomy, the people... The capacity is about 150 to 200 places, and we have a large outdoor terrace of almost the same capacity,'' Krauss said, astonished that people had already begun asking about their offer for weddings.

He is particularly pleased about the great reactions to the restoration of Bellevue the local population, with whom he communicates daily, have had. The older people remember that they once went to school right here.

"It's really nice when people tell me that they were once taught here, and now in their older days they intend to come here for a coffee or a beer," he said, pointing out that the project was supported by the municipal government.

When it comes to Bellevue's gastronomic offer, Krauss says the facility will offer dishes made from old Zagorje recipes, but crafted in a somewhat more modern way. They're planning and organising evenings full of live music performances, and access to their facility is specially tailored for the disabled.

"The Toplički pedestrian ring is near us for the people who are on rehabilitation to walk on, so we're glad to be here for when they're walking to come and have a bit of cake and some rest. I think we'll really have something for everyone,'' Krauss, who has always been madly in love with Zagorje, stated.

His only regret is that tourism in Zagorje and Krapinske Toplice is still not yet sufficiently developed, but fortunately, foreign tourists are increasingly recognising it as an interesting and different type of destination.

"Austrians and Slovenes increasingly choose rural tourism as a form of holiday, not just the sea. I'm sure that in a couple of years, our Zagorje will be dominated by such tourism,'' Krauss said, feel optimistic, announcing that the technical review of Bellevue will be on March the 7th, after which the grand opening will take place.

Make sure to stay up to date by following our dedicated business, travel and lifestyle pages.

The stand of the Croatian National Tourist Board (HTZ) with its 24 exhibitors is the largest at this year's Munich Tourism Fair, with the tourism potential of both Zagreb and Slavonia having special emphasis placed on them. Gari Cappelli believes that continental tourism is the future for Croatia's tourism offer.

As Poslovni Dnevnik writes on the 21st of February, 2019, through the variety of Croatian snacks prepared by famous Croatian chefs, master chef Branko Ognjenović and the chef of the Croatian football team, Tomica Đukić, numerous visitors to the International Tourism Fair f.re.e 2019 - which, as we reported recently, is being held in Munich, Germany, from the 20th to the 24th of February this year, had the opportunity to get better acquainted with the gastronomic offer of Slavonia and the City of Zagreb yesterday at the stand of the Croatian Tourist Board.

The Slavonian gastro scene showcased Ilok cellars (Iločki podrumi), Kutjevo, Belje, Brzica and Feravino. The promotion of Croatian tourism also includes some of the legends of FC Bayern - Slavonia native Ivica Olić, Giovani Elber, and Andreas Jung.

The f.re.e. tourist fair is otherwise the largest and most visited tourist fair in Bavaria, stretching to over 88,000 square metres, and this year, boasting as many as 1,300 exhibitors from 70 countries across the world, it is bigger than ever before.

The Croatian Tourist Board's stand, with its 24 exhibitors, was the biggest at the fair. Unlike in previous years when Croatia promoted its popular destinations on the coast mostly, this year the often overlooked Croatian continent, more specifically the capital of Zagreb and the Eastern region of Slavonia, which both have a lot to offer to tourists, are taking the limelight. The promotion of Slavonia as a desirable tourist destination is an excellent move for the Days of Croatian Tourism, which is set to be held on 4th to 9th October in the Slavonian region of Osijek.

Croatian Minister of Tourism Gari Cappelli, and Director of the Croatian Tourist Board Kristijan Stančić participated in the presentation of the Croatian tourist offer along with the director of the Zagreb Tourist Board, Martina Bienefeld, Osijek-Baranja County Prefect Ivan Anušić and the domestic manager of the tour operator for Croatia, Selimir Ognjenović.

''Of the three million tourists coming to Croatia from Germany, 1.2 million of them come from Bavaria. So I can say that the Munich Fair is always some sort of indication for us to know what's going to happen this year in regard to tourism. The Germans are the type who appreciate the quality of Croatian tourism, because when those three million tourists return home to Germany, there's a lot to talk about.

Interestingly, we're not presenting the coast but the continent, because I think that's the future through health tourism, special forms of tourism, hunting, fishing, cyclotourism...'' Gari Capelli told Poslovni Dnevnik.

Nera Miličić, head of HTZ in Germany, says that there is a sense of pride in announcing the expansion of the Croatian tourist offer with "The most beautiful Croatian tourist secret" - Slavonia, and the triple winner of the most beautiful European advent - the Croatian capital city of Zagreb.

''We're especially delighted to have organised the largest presentation of the Croatian continent in Bavaria with our partners so far,'' noted Miličić.

''Given that for Croatian tourism, Germany is the emitive market from which we have the largest tourist turnover, we've created a rich and original event program at the Croatian stand that is attracting the attention of numerous visitors.

This is also the confirmation of a well-founded cooperation with FC Bayern Munich which gives us additional promotional value on the Bavarian market, where every other German tourist comes to us from,'' commented HTZ director Kristjan Staničić.

As a tourist destination, Croatia is a serious competitor on the German market. During these times of major changes, an increase in the amount of airline passengers from Germany to Croatia has been recorded, which has positioned Croatia among the most competitive destinations, alongside Spain, Turkey, Greece, Portugal, Egypt and Tunisia, countries which many tourists seeking package deals are usually attracted to.

Although Croatia was otherwise perceived as a destination to drive to from Germany, through the country's camping and private accommodation offer, it has also entered into the package holiday segment (hotel, transfer, flight) which is sold through a tour operator network. All in all, the interest of German tourists for Croatia remains very high indeed.

Numerous tour operators are continuing to expand their programs, smaller operators have begun ''selling'' Croatia, and some airlines are continuing to announce new lines.

The Germans are still in the leading position when it comes to the number of overnight stays realised by foreign tourists in the Republic of Croatia. In addition, the largest number of tourists from Germany come from the regions of Nordrhein-Westfalen, Bavaria, and Baden-Württemberg. However, the Germans typically enjoy more family oriented holidays, often bypassing potentially more ''specialised'' types of tourism on offer.

Therefore, the presence of Croatia's more specialised tourist offers at such fairs is crucial to boost the awareness of German tourists to the country's more numerous tourist offers, and in particular to awaken tour operators to Croatia's more luxurious package of arrangements,'' stated Dragan Kovačević, Vice President of Agriculture and Tourism at the Croatian Chamber of Commerce (HGK), who is also representing Croatia's tourist offer in Munich.

Make sure to stay up to date with more on continental tourism, the Croatian Tourist Board and Croatia's various tourist offers by following our dedicated travel and lifestyle pages.

Bjelovar breaks the mold and creates a unique fitness product that has caught the eye of not only the nearby Hungarians, but the world.

Continental Croatia is, aside from its tourism potential, usually in the news for all the wrong reasons. Although it has gradually started to spread, the Croatian demographic crisis has bitten harder in that area of the country than it has elsewhere, and with residents leaving in their droves, it often comes as a pleasant surprise to read about innovatation and opportunities arising from there, despite the fact that there are several.

As Goran Jungvirth/Poslovni Dnevnik writes on the 21st of February, 2019, the winner in the category of best project idea at the first Bjelovar Startup 2018 competition confirmed to Poslovni Dnevnik that the prototype of their product is ready, and that it has attracted the interest of people from all over the world.

"We've already had over twenty queries, and our partners from Hungary have just visited us. The whole world is interested in our product,'' said Vedran Presečki from Ferrodus d.o.o., the creator of a non-motorised running belt with a ferrofluid brake.

His company has been in existence since back in 2013 and produces fitness equipment which is then exported to many countries across the world, not only to other European countries such as Switzerland, the Netherlands, Italy, Hungary, Great Britain, Spain, Portugal, and France, but further afield and across the Atlantic, all the way to the United States.

Otherwise, this Bjelovar-made product is the very first non-motorised running beld with a ferrofluid brake in the entire world. Despite that fact which is already impressive enough, Ferrodus' innovative Vedran Presečki plans to conquer the whole world with this new invention.

"The fitness industry is continuing to grow steadily. Our "Predator Hunt" running belt is the first in the world which uses ferrofluid technology, and it's unique owing to that. Running on it is natural, it's as if you were running on an embankment. Existing running belts (such as common treadmills) don't boast that natural resistance and don't allow for the alteration of running intensity like our belt does,'' stated a rightfully proud Presečki for Poslovni Dnevnik upon describing the uniqueness of this Bjelovar-made product.

After applying this technology to the running belt, Presečki is planning to extend it yet further, to other fitness related products such as bicycles and the like.

To brieflt recall, Presečki won last year's Bjelovar-based competition, which gained him a very welcome 100,000 kuna cash. This year, that same competition will open once again for startups that are working to produce innovations in the area of ​​Bjelovar.

Presečki told Poslovni Dnevnik that his award helped him greatly in terms of product development, especially in speeding up the development of prototypes, which is of crucial importance for the overcoming of potential competitors who came up with the same idea.

"We accelerated and definitely managed to get a one-year head start owing to this award, because we're a small company," he noted.

But Presečki emphasised the fact that his prize meant more than just money because it meant recognition and brought about great enthusiasm for his team.

"That was a great incentive for us," he said.

The Bjelovar company exports 90 percent of its products and currently has just three employees, but it will need a lot more man power when launching its totally unique running belt production.

"We have a recruitment plan for when the product goes to the market. We'll have to substantially reorganise the business,'' Presečki stated, for whom, despite gaining some truly invaluable business experience, the real work is yet to come.

Make sure to stay up to date with Croatian companies, products and services, doing business in Croatia and much more by following our dedicated Made in Croatia and business pages.

Click here for the original article by Goran Jungvirth for Poslovni Dnevnik

''We need to give young people the ability to learn and improve, to be informed about the measures implemented by the EU through EU funds and self-employment,'' stated the mayor of Virovitica.

As PD i VL native tim/Poslovni Dnevnik writes on the 4th of February, 2019, Virovitica is the fourteenth Croatian city in which the Ministry of Regional Development and EU Funds organised an informative-educational event entitled Regional Days of EU Funds, with the aim of informing the general public about the possibilities of financing from EU funds and strengthening regional development, as well as the possibilities for overall social and economic growth of Croatia which derive from EU fund availability. The event was held at the Virovitica Cultural Centre, which, ironically with the help of the EU funds, is about to be reconstructed soon.

Since Virovitica is mainly made up of agricultural land, its projects are mostly reported by small and medium-sized entrepreneurs and farmers, and according to the latest statistical data, Virovitica-Podravina County is among the best in Slavonia and Baranja in terms of EU cash withdrawal for rural development funds and for micro and small enterprises - up to 3,400 kuna per capita. "EU funds concern everyone, we're working on public projects in the public sector to set standards, and it's important to utilise them and improve business," said Ivica Kirin, Virovitica's mayor.

National development strategy

Virovitica-Podravina County Prefect Igor Andrović presented some statistical data according to which the VIDRA Development Agency in 2018 carried out 194 projects for small and medium-sized entrepreneurs and farmers, totaling a massive 450 million kuna.

"We've started on projects which concern Slavonia, Baranja and Srijem, such as the renovation of the hospital, the construction of a network of entrepreneurial incubators, the construction of a technological innovation centre, the hall for the Viroexpo fair and the energetic renewal of the cultural centre.

This year, we expect the realisation of about 150 projects we submitted last year,'' Andrović said, pointing out that with the new division in the four statistical regions, small and medium entrepreneurs in their area as well as in Sisak-Moslavina and Karlovac County will receive up to 75 percent of support from the EU funds, as opposed to the previous 45 percent.

State Secretary at the Ministry of Regional Development and EU Funds, Velimir Žunac, reminded attendees that by the year 2020, the seven-year financial period during which Croatia learned, made mistakes and matured will end, and more opportunities in the next financial period of 2021-2027 will come.

"EU funds are our reality - this county and this city are a good example of how European Union money can be used, as statistics show. In January 2017, Croatia was [withdrawing] under 9 percent of the contracted funds and by the end of last year, that number was more than 62 percent, or 6.6 billion euros of contractuality, we've made a significant step forward. In Croatia, 80 percent of public investment comes from the EU and it's important to maximise its use," Žunac pointed out.

He announced that the Croatian Government is ready and that the budget is stable for the new cycle and financial period from 2021 to 2027, recalling that the National Development Strategy of the Republic of Croatia is under development up until 2030, with twelve thematic and working groups working intensively.

An interesting panel discussion was then held, entitled "The development of Virovitica through European Union funds", involving representatives of various institutions as well as local entrepreneurs with experience of using money provided by EU funds. At the very beginning, Mayor Ivica Kirin emphasised that in the near future they want to identify the strategies and priorities that Croatia needs to develop which will create faster and better economic growth.

"We need more staff, especially those who will write projects. At the same time, we must give young people the ability to learn and improve, to be informed of the measures that the state is implementing through EU funds and self-employment," Kirin said.

The results were presented by Tihana Harmund, Director of the VTA Development Agency, who works for all institutions in Virovitica, companies, institutions, as well as for entrepreneurs and farmers, to whom she offers advice and assistance in writing up and implementing EU projects.

"We have prepared the documentation for all projects, including Pejačević Castle worth 82 million kuna, the improvement of Virovitica's water and communal infrastructure of 150 million kuna, as well as the renovation of schools, kindergartens and other institutions. For smaller projects, we provided the necessary funds to farmers, entrepreneurs and civil society organisations,'' stated Harmund.

Cooperation between the city and the county

''Services and institutions were networked for the preparation of projects, and the cooperation between the City of Virovitica and Virovitica-Podravina County is excellent,'' said Neda Martić from the VIDRA Development Agency.

"An entrepreneur can now get a valid building permit in two days, and in addition to being a regional coordinator, our agency is working on strategy and writing up infrastructure projects. We currently have 245 projects related to the economy,'' Martić added.

Make sure to stay up to date by following our dedicated politics page for much more.

Click here for the original article by PD i VL native tim on Poslovni Dnevnik

As Poslovni Dnevnik writes on the 28th of January, 2019, throughout the course of this year, Varaždin County will continue to invest heavily in education and healthcare thanks to European Union money, in addition, the county is going to busy launching some brand new, important projects.

This year, Varaždin County, the first in Croatia to do so, begins with the implementation of a very significantt project, financing school meals for secondary school students at risk of poverty. This is one of the newer and by far most important projects foreseen in the budget for 2019.

"We first introduced free [school] transportation and textbooks, and we're also starting to finance meals for high school students who are at risk of poverty. As many as 30 percent of primary school students are at risk of poverty, and we've provided free meals for all of them.

Since everyone is continuing to study, this problem isn't just going to disappear, and it's also necessary to finance meals for the most vulnerable kids in secondary schools,'' said county prefect Radimir Čačić. In the budget for 2019, 3.45 million kuna is planned to go towards pupil nutrition. The continued implementation of another new project is still going on, which is student accommodation, for which 526,000 kuna was provided, almost twice as much as 2018.

Investments in the construction and in several cases reconstruction of as many as twenty different schools is anticipated.

"In 2019, 227 million kuna will be invested in school facilities, and health and social care facilities. The increase is best seen in the consolidated budget, which amounts to 1.2 billion kuna, representing 25 percent more than last year,'' added Varaždin County Prefect Čačić.

In other areas, an innovative incentive scheme for farmers through the use of EU funds is of particularly interest. Thanks to this, the number of farmers who secured their crops and livestock has increased from 5 back in 2017 to a very encouraging 357 in 2018, and this year, further increases in the number of beneficiaries is expected.

Make sure to follow our dedicated lifestyle page for more.

More and more Croats are starting to see the benefits of going about their lives in more rural environments, especially young people, according to a report from Glas Slavonije.

"It's certain that today, rural life offers unparalleled benefits compared to those it did ten or more years ago, when people left in their droves for the cities. The advantages of a peaceful and stable life that smaller environments provide, and the quality of life in such place, have equalled the benefits of life in cities and have potentially even exceeded them, and for an organised life we ​​need only a safe car,'' they are unique in their assessment of young Croats, who today in small villages are often managing to become the owners of valuable properties and pieces of land with gardens that a decade ago simply couldn't have even been dreamed of.

There is now more and more support to local families from self-government units when it comes to purchasing houses, offering free textbooks and meals in schools, subsidising kindergartens, subsidising the cost of staying in dorms, bus tickets and offering scholarships to almost all students, constructing new schools, clinics and specialist clinics, and offering harmonious conditions for sport. It isn't all that surprising that many younger Croats are now dreaming of life in the countryside.

One of the areas that really proved to be one of the first to see the need to invest primarily in people, and only then in property, is the Magadenovac Municipality, writes Glas Slavonije. This small municipality could easily be a model for many for the abundance of measures it has introduced in order to support life in the local area.

With 3,000 kuna for the first-born, 5,000 kuna for the second-born and 8,000 kuna being offered for the third-born child, the amount for each subsequent child is determined by the mayor personally in order to help that particular family more in accordance with their material condition. A few years ago, almost alone, with very little help from the state, they financed the kindergarten construction, for which parents pay 354 kuna per child.

The kids who attended got free textbooks while others across the country were only just starting to consider such an initiative. High school students also received financial help from the municipality if they were staying in student dorms. Croats with young families are increasingly turning to a more rural way of life.

There are already plenty of people interested in buying cheap houses in the area, and with the new school, which will soon boast an additional hall, a renovated kindergarten, as well as better communal infrastructure and many other measures, Mayor Darko Dorkić hopes that the negative trends we have been witnessing so far will soon turn around and take a more positive direction.

Apart from the fact that smaller houses in Slavonia and Baranja are sold very cheaply, young people are increasingly attracted to the fact that village life is ready and waiting to offer a life lived in peace and in coexistence with nature, and a garden in which they can grow fruits and vegetables.

The idea of breeding pigs and poultry for their own needs doesn't put them off either, recognising that such a lifestyle is not only healthier, but much cheaper than purchasing such items in the city would be. In such small communities everyone knows everything, so there is never any problem for children to go alone to school and to playgrounds, not to mention the fact that overall living costs are so much lower.

Make sure to stay up to date by following our dedicated lifestyle page.

As Poslovni Dnevnik writes on the 24th of January, 2019, at this stage, the Croatian production company Dilj d.o.o. is set to invest significant resources in the overhaul of the plant, and the plan is to put additional resources in the next phase to raise and expand the capacity of their brick factory.

This Vinkovci-based Croatian production company is a manufacturer of brick, tile, grout and special roof elements, which exports 70 percent of its production to both European and non-European markets. Dilj d.o.o. rescued a small brick factory from Našice, which was in the process of going into liquidation. In the very process of bankruptcy, the move saw it successfully renew its production.

In addition to saving production, they saved fifty grateful employees from certain job losses, which would have meant that nearly fifty families would have been left without income. The director of Dilja d.o.o. Dražen Ivezić recalls that the Slavko IGM Našice brick factory went into bankruptcy at the end of 2014 due to problems that were the result of the crisis, which was felt the most by the construction sector, and as material producers, they were hit hard.

As Glas Slavonije writes, at the time of bankruptcy, about fifty workers were employed at the plant, manufacturing a production line of about fifty million units of normal sized and more than ten million block bricks.

The Croatian production company asked the bankruptcy trustee to take over the factory, hire the current workers and continue on with production, and got approval from the creditor council for that step.

''On May the 18th, 2015, we signed a lease contract and continued production. After less than a month and a half, as soon as July the 1st, production continued and everything went smoothly.

Production continued over the next three years, and at the end of last year, Dilj d.o.o. proposed to the bankruptcy trustee and the creditor council to complete the bankruptcy proceedings with the creditor settlement and to take over Slavonia's IGM. After the creditors accepted the bankruptcy plan, in late 2018 Slavonia IGM formally went bankrupt, meaning the preservation of production with a long tradition, as well as the preservation of jobs in the processing industry in Slavonia, which is of particular significance,'' stated Dražen Ivezić, the director of the largest tile factory in the Republic of Croatia with a 95-year-long line tradition of production, unbroken even during various wars.

He added that after the winter renovation phase, the plan for Slavonia's IGM is to be at full capacity by the end of this year, and they are planning to sell everything they produce.

Stay up to date with everything you need to know about doing business in Croatia, the economy, the job situation and the investment climate by following our dedicated business page.

The Varaždin-based Croatian company Varteks has been producing dresses, coats, jackets and other clothing for specialised purposes, including uniforms for the Croatian Army, the police and the like for 101 years now.

As Poslovni Dnevnik writes on the 23rd of January, 2019, in three production plants in a complex of red brick buildings in the centre of Varaždin, several hundred workers are working daily in one shift on quality garment collections. In Varaždin's Varteks, 24sata journalists were welcomed and hosted by Nenad Bakić, president of Varteks' administration. He took them through all three production facilities. That day, designers who came to Varteks presented Bakić and his associates the new women's collection - business elegance.

''First, we do prototypes of the clothing, then after consultations they go off for additional finishing should that be necessary. After that, we make a collector's sample, a hand-made version that is produced in a small number of copies. If there are no more changes to be made, we make and launch the product,'' explained Bakić. Currently, Varteks is launching its latest elegant collection made with younger people in mind, called Varteks Young.

''We can split production into several phases. Everything begins with the tailor, from the threading and onwards. There, the machine cutter does almost everything itself according to the instructions on the screen. After that, sewing begins. All the parts from the cutter are picked up and people connect them in smaller segments. Then everything is shifted into the assembly, the middle part of production, where some segments are assembled and come to the end with finishing and the final ironing. After that, what's most important to us is quality control. If everything is fine, the goods are sent to the warehouse and are made ready for shipping, to our stores or to our customers,'' explained Miljenko Vidaček, production manager at Varteks. He adds that it takes about four hours to make a suit.

Varteks produces a very wide range of merchandise, its production manager emphasises the fact that Varteks is among the most flexible companies in this part of Europe as a whole.

''We were coming to the end, pre-bankruptcy. We're incredibly grateful to Mr. Bakić for the fact that we're still here,'' Varteks' grateful employees conclude.

For more information on Croatian companies, products and services, as well as doing business in Croatia and the overall business and investment climate, follow our dedicated business page.

WBAF Croatia will focus on facilitating access to finance for start-ups, start-ups, MSPs and fast-growing companies, and will start with international training programs for investors. Baybar Altuntaşa, a successful Turkish entrepreneur and investor is set to kickstart his very first Croatian project.

As Bernard Ivezic/Poslovni Dnevnik writes on the 19th of January, 2019, on Monday, January the 21st, in Zabok's Bračak castle, the first office of the World Investment Forum of Business Angels (WBAF) opens in the European Union. As we reported recently, the office will provide education for startups and business angels as it has been available in London. This includes elite tourism and the support of Krapina-Zagorje County. Such unusual news is otherwise an everyday thing for Baybar Altuntaşa. This prosperous Turkish entrepreneur, angel investor and entrepreneur promoter has a number of international success stories behind him.

Over in Turkey, he is also celebrated as a TV star in their version of the entrepreneurial reality show Shark Tank. He is the president of the Turkish Business Angels Network (TBAA), vice president of the European Business Angels Network (EBAN) and founder and president of WBAF. He has been coming to Croatia fairly regularly since visiting for the very first time back in 2015, and Poslovni Dnevnik talked with Altuntaş about his debut Croatian project.

You developed the QBAC program based on the WBAF program on the London Stock Exchange. You have been an advisor for this LSE program. What exactly did this program offer to LSE investors?

First of all, the WBAF wants to help increase financial engagement across the globe. We also want to help investors make good and early returns on their investment, as this generates resources for more investment in new startups. And thirdly, the WBAF wants to speed up the conversion of public money into smart money, to encourage innovation. We've designed a course to provide business angels with knowledge and tools to help them achieve their own goals as investors, which in return will contribute to achieving the WBAF's goals for the entrepreneurial ecosystem.

How will the Croatian version of QBAC, called QBAC Bootcamp Croatia, differ from those over in London?

In Croatia, we've strengthened the bootcamp with panel discussions, round tables and debates. It will be comprehensive and will involve a cultural interaction with the Croatian investment ecosystem. This will also include visits to technoparks, student meetings, and fundraising for startups.

How did you come to the assessment that for QBAC Bootcamp Croatia there is a market of 500,000 business angels, ie, potential customers?

I believe that Croatia will be a training center for European investors, through the WBAF training programs that will be implemented there. The European Business Angels Network statistics for 2017 reveal that 320,000 business angels invested 9.6 billion euros in Europe in that year. Furthermore, the Angel Capital Association (ACA) statistics show that 340,000 business angels filed 26 billion dollars in the United States last year.

As the QBAC Bootcamp Croatia is new and the only such thing in the world, it's clear that none of these thousands of business angels received a Qualified Business Angels Certificate, and most of them were not licensed by their governments as a business angel. Holding a certificate or a license, of course, isn't mandatory for somebody who wants to invest. However, it's understood that a training program which reduces risks and increases the return on investment for business angels is of great importance. Learning through work is very different from what you do after having learned something.

What are the expectations of the WBAF from the office in Croatia?

By opening this office, the WBAF provides Croatia with the opportunity to network in the investment world. It will have a co-ordination role for EU members entrusted to it, in which the WBAF has high representatives in Austria, Bulgaria, Czech Republic, Denmark, Estonia, France, Germany, Greece, Portugal, Romania, Spain, and Switzerland.

The countries you mention, which will be "covered" by the Croatian office, usually have bigger and more active communities of business angels than Croatia. What is Croatia's advantage to you, and why are you opening the first office in the EU here?

Croatia is the birthplace of Nikola Tesla, one of the most important inventors of the 19th century and the symbol of inventiveness. Today, in the 21st century, through WBAF Croatia, inventors in Croatia will be better connected with global capital markets and smart financing through business angels. The result of this convergence will be innovations that will create a major competitive advantage for the Croatian economy. The WBAF Office in Croatia means more startups, new ideas, smart financing, and innovation.

How did the office opening project in Croatia evolve? The initiative allegedly came from Krapina-Zagorje County prefect Željko Kolar?

Yes, months ago, Željko Kolar invited me to visit Zabok. We saw the castle of Bračak and learned a lot about its history. I was impressed by how the county had turned such a historic building into a modern, smart building.

Prefect Kolar told me that he wanted to turn Zagorje into a centre for entrepreneurship, startup and innovation in the EU. At the Croatian level, that county wants to strengthen the startup community throughout the country. But they're looking further and further afield. They're planning to network entrepreneurs and investor angels from around the world, and because of that they're stimulating the growth of small and medium businesses and creating new jobs. A simpler approach to financing, this beyond the framework of the usual banking system, is conducive to accelerating financial inclusion as an integral part of the strategy that should affect society at the local and at the national level. I wondered if it was possible for such a small country to become Europe's leader in innovation. Then I left Croatia with this thought in mind.

After that, what personally motivated you to open up the WBAF office in Croatia?

Croatia's success at the FIFA World Cup in 2018 encouraged me to support this project. Croatia isn't a big country and it only has four million people, but the way the Croatian national football team managed to get to the final and defeated the teams of Germany, Great Britain, Spain, Italy, Brazil, China and Turkey, that's a miracle. Then I decided to look at the Kolar's project much more seriously and I presented the idea of ​​opening the WBAF offices of Croatia to the members of the administration. All the members of the board were in the meeting and we agreed at once - It doesn't matter how big the country is! It's important how ''big'' the people are, how persistent, and passionate they are to realise their dreams.

What can startups and business angels in Croatia expect from the WBAF office?

WBAF Croatia will focus on facilitating access to finance for entrepreneurs, start-ups, small and medium-sized enterprises, and fast-growing businesses, and will start with international training programs for investors. The plan is, moreover, to promote programs for entrepreneurs who will prepare them for receiving investments, organise investment forums for startups, arrange international investors' arrivals to Croatia, and promote Croatian entrepreneurs and businesses globally.

The WBAF office is opening under a licensed model. What are the conditions [for that]?

The office in Croatia will be managed by the Entrepreneurship Centre of Krapina-Zagorje County, which has a WBAF license. The president of the WBAF steering board in the Republic of Croatia will be Prefect Željko Kolar. By taking over this responsibility, the county will become part of the world's financial and business network, which aims to facilitate access to capital for entrepreneurs of start-ups and entrepreneurs in the intensive growth phase.

Will there be cooperation between offices in Croatia with those in Tanzania, Macedonia or future offices in Brazil and other countries?

The WBAF believes that launching an office at the national level provides a great opportunity for governments to discover the real power of startups and businesses to boost their economies through innovation, investments, business angels. and entrepreneurship. It's good to see that governments around the world realise the importance of investing, business angels, and entrepreneurship to foster the development of their economies.

Many governments, especially those in Europe, offer generous tax incentives for angel investments. To support such a system, the UK and Turkey have already adopted laws on business angels investing. Islamic economies have also begun to see the importance of the capital market at an early stage. In fact, the Islamic Development Bank has included angel investments on its list of recommended topics that should be considered at its annual conference in Jakarta.

The WBAF is inviting all governments and policy makers to use their knowledge, mentoring and networking of qualified business angels, and to turn public funding into smart financing by establishing close co-operation between public institutions and private resources. Working together across borders, with a common vision, we're in a good position to make positive changes in the global economy. I'm sure that co-operation with other WBAF offices across the world will enable a faster impact on both the Croatian and world economies.

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Click here for the original article/interview by Bernard Ivezic for Poslovni Dnevnik