Naslov
ANALYSIS OF STATE AND PERSPECTIVES OF CROATIAN STARTUP COMPANIES

Autori
Wittine, Zoran ; Bošnjak, Mile ; Bedeković, Helena

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
7th International Scientific Symposium on Economy of Eastern Croatia - Vision And Growth / Mašek Tonković A., Crnković B. - Osijek : Ekonomski fakultet Sveučilišta Josipa Jurja Strossmayera u Osijeku, 2018, 207-215

Skup
7. međunarodni znanstveni simpozij: Gospodarstvo istočne Hrvatske – vizija i razvoj = 7th International Scientific Symposium: Economy of Eastern Croatia – Vision and Growth

Mjesto i datum
Osijek, Hrvatska, 24.05.2018. - 26.05.2018

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Podatak o recenziji nije dostupan

Ključne riječi
startup ; internationalization ; Croatia ; entrepreneurhip ; sources of funding

Sažetak
Startup companies in majority of the most developed countries of the world represent an extremely important leverage of economic and social development. Because of the inherent characteristics that distinguish them from other entrepreneurial ventures (e.g. scalability, growth rates, funding sources, business model innovations, etc.), startups require special research attention. Although there is a large number of scientific and professional researches in the world that study this issue more thoroughly, studies that analyze the current state of affairs and specifics of Croatian startups as well as the key issues that they are facing are still missing. For these reasons, authors conducted a primary research whose main goal was to gain a clear insight into the current state of Croatian startups, the industries in which they operate, the sources of financing they use, their ownership structure, financial indicators, specifics of the internationalization process, investments in research and development, and other business specifics and management expectations. Based on the results obtained, it is possible to compare the state of the startup scene in Croatia with the situation in other countries and propose appropriate measures for its improvement. The research was conducted through a questionnaire that was distributed to a random sample of 100 startup companies. The results of the research have shown a weak interaction of domestic startups with foreign entities, weak focus on foreign sources of funding, and poor differentiation of the sources of funding used, especially when it comes to exploiting opportunities offered by venture capital funds, crowdfunding etc. Approximately half of the Croatian startup companies make their first sales revenues in the first year of existence and most of them make a positive financial result already within the first two years of doing business, which are specificities that indicate a clear distinction between ways of doing business and the expected time frame for return on investments among Croatian and global startups. Approximately 40% of Croatian startups make less than 5% of their total revenues on foreign markets, which may indicate a lack of ambition of the owners or company executives, but may implicitly point to the lack of innovation in business models in the global context.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA