Croatia Innovation and Entrepreneurship Venture Capital Project

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The development objective of the Innovation and Entrepreneurship Venture Capital Project for Croatia is to strengthen risk capital financing for innovative small and medium enterprises (SMEs) and startups in Croatia. The project comprises of three components. The first component, pilot venture capital fund will consist of both public and private financing, in a ratio consistent with European Union (EU) state aid regulation. It will be established with the purpose of providing financing, in the form of equity or quasi equity instruments, to innovative SMEs (including startups) with the locus of activity in Croatia. The second component, seed co-investment fund will strengthen the early stage investing industry in Croatia by providing smaller amounts of risk capital financing alongside investors in the market such as angel investors and incubators. The third component, technical assistance consists of following four sub-components: (i) global advisory network; (ii) capacity building and networking; (iii) monitoring and evaluation; and (iv) project management and audit.