Croatian Agency for SMEs, Innovations and Investments DARKO LIOVIĆ President of the Board of...

Croatian Agency for SMEs, Innovations and Investments

DARKO LIOVIĆPresident of the Board of Directors

WHO ARE WE?

HAMAG-BICRO - Croatian Agency for SMEs, Innovations and Investments

independent institution under the supervision of the Ministry of Entrepreneurship and Crafts

established by the Government of the Republic of Croatia in 1994 with the purpose of enhancing SME’s development, catalyzing the innovation processes and promoting investment activities

CROATIAN AGENCY FOR SMEs, INNOVATIONS AND INVESTMENTS www.hamagbicro.hr

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WHAT DO WE DO ?

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Our main activities:issuing guarantees for bank loans to SMEsissuing micro loans to start-upsgrant schemes implementationpromoting investmentscatalyzing innovation processes

We aim to:provide active support to development of SMEs in Croatiafacilitate creation of favorable environment for entrepreneurship and investmentmotivate private and public sector to raise investment levels in R&Dsupport innovation and technology-based businessescreate a positive international image of Croatia

CROATIAN AGENCY FOR SMEs, INNOVATIONS AND INVESTMENTS www.hamagbicro.hr

GUARANTEES

CROATIAN AGENCY FOR SMEs, INNOVATIONS AND INVESTMENTSwww.hamagbicro.hr

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Guarantees are provided to SMEs in compliance with the SME Development Promotion Act.

Guarantees issued for loans approved by credit institutions and other legal entities approving loans to SMEs.

Guarantees can be issued for loans from EU financial institutions.

First call guarantees for SME loans

For start-ups:Letters of intentEIF counter-guarantees

3 GUARANTEE MODELS


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• SMEs operating up to 24 months• guarantee up to 80% of loan for all program types

EU START-UP

• SMEs operating more than 24 months• guarantee up to 50% of loan for all program types and

up to 70% for Performance Guarantees

GROWTH

• issued to SMEs investing in agriculture and fishing• increase the productivity of agricultural production

AGRICULTURE

GUARANTEE BENEFICIARIES

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AQUAPARK ISTRALANDIAo guarantee issued in the amount of HRK

7,000,000 (ca. EUR 920,000)o first Croatian aqua park opened last

year in Istria, covers 8 hectares of land and provides entertainment, leisure and relaxation on more than 5,000 square meters of water surface

o has the biggest swimming pool with artificial waves on the Mediterranean won the PARKSMANIA AWARD for entrepreneurial project of the year

GUARANTEE BENEFICIARIES

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RIMAC AUTOMOBILI Ltd.o guarantee issued in the amount of HRK

2,627,483 (ca. EUR 345,000)o Concept One – electrical car with power

of 1,088 HP, torque moment of 3,800 Nm and maximum speed of 305 km/h

o Greyp Bike – electric bike started by a fingerprint, reaches the speed of 60 km/h

o Batteries production

GRANTS FOR COMPETITIVENESS ENHANCING

Direct, non-refundable financial contributions to SMEs in a form of grants under the Program Entrepreneurial Impulse 2015 for entrepreneurship and crafts

Grants are available for projects in:manufacturing industryservice industryenvironmental protection IT sector


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GRANTS FOR COMPETITIVENESS ENHANCING

o expected number of grants: 1,300

o payment of 80% amount of the approved grant is paid upon the contract conclusion

o max. grant amount: state budget: HRK 400,000 (ca. EUR 52,512) EU funds: HRK 15,000,000 (ca. EUR 1,969,215)

o HRK 4.37 billion, of which HRK 3.93 billion are direct grants to SMEs and crafts

HRVATSKA AGENCIJA ZA MALO GOSPODARSTVO, INOVACIJE I INVESTICIJE www.hamagbicro.hr

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GRANT BENEFICIARIES

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SLIKOPLAT Ltd.o received the grant of HRK 497,175 (ca

EUR 65,270) for innovation in entrepreneurship

o PhotoMath became the most popular application in American AppStore

o projects functions on the principle of equations via smart phone

o 100,000 active userso more than million downloaded

applications

GRANT BENEFICIARIES

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SUSTAV JAVNIH BICIKALA Ltd.o received the grant of HRK 235,000 (ca.

EUR 30,850) as a micro companyo provision of bike rental services in

Zagreb and Šibeniko start-up entrepreneurso gained HRK 500,000 income in the first

business year

GRANTS FOR FOREIGN FAIRS

Co-financing of participation costs at foreign fairs:o CeBIT Hannover (April 2015)o INTEROP Las Vegas (May 2015) o INVESTORS MEET INNOVATIONS Bloomberg, London


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GRANT BENEFICIARIES

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VISIOBIKE j.d.o.o.o won the grant for the program

INVESTORS MEET INNOVATIONS Bloomberg in London this year

o received a micro loan in the amount of HRK 120,000 (ca. EUR 15,750)

o electric bike with carbon fiber frame that is integrated with a smart phone

o one of 50 most exciting start-ups of Europe according to the selection of Tech.eu web-portal

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GRANTS FOR EQUITY MATCH

Promotion of investment in equity capital of innovative SMEso beneficiaries: innovative SMEs whose equity capital is increased by the

funds invested by eligible investors for the purpose of further development and/or commercialization of an innovative product or service

o eligible investors: business angels, unions of business angels, corporative investors, venture capital funds and other natural persons

o Beneficiary, Investor and HAMAG-BICRO sign a tripartite Financing Contract (hereinafter: Contract) that regulates the mutual rights and obligations

o grant amount: up to HRK 200,000 (de minimis aid)o total available funds: HRK 7 million


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GRANTS FOR INNOVATIONS1. PoC - Proof of Concepto provision of innovative SMEs and scientific institutions to have their innovations

and associated risks assessed o financing: grant up to HRK 350,000, 70-90% participation in costs

2. RAZUM – development program for knowledge-based SMEs o financing: conditional loan – max. HRK 9 milliono micro and small companies – up to 70% total eligible costso medium companies – up to 50% total eligible costs

3. IRCROo research and development program aiming at encouraging SMEs to set up their

R&D activities and cooperate with scientific institutionso financing: max HRK 900,000o max. 50% portion in total justified costs


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SUPPORTED INNOVATION PROJECTS

Number of

pre-applications

Number of applications

Requested amount

(in € million)

Number of contracted

projects

Contracted value

(in € million)

Total project value

(in € million)POC 1-5 (2010-2014) 1,061 789 92 161 5 5

TEST (2007-2012) 132 38 26 31 6 6

RAZUM (2007-2013) 163 52 42 24 15 22

IRCRO (2008-2013) 63 57 5 24 2 5

EUREKA (2010-2012) - 32 - 10 1 -

TEHCRO (2007-2011) 13 13 14 8 9 21

TOTAL 1,070 745 102 300 39 60


GRANT BENEFICIARIES

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PET MINUTA Ltd.o project co-financing via the program

RAZUM in the amount of HRK 1,700,000 (ca. EUR 223,000)

o Shoutem - self-service platform for fast and easy creation of smart phones and tablets applications

o 65 employeeso offices in New York and Zagreb,

development is still in Croatiao 90% revenues in export o 25 thousand users

GRANT BENEFICIARIES

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MOBILNA INFORMATIKA Ltd.o project co-financing via the program

IRCRO in the amount of HRK 900,000 (ca. EUR 118,000)

o Rapsly is a sales tool that works in real time and coordinates the sale of its agents and provides realistic information to its users

o Users: L'Oreal, Lavazza, Keune, Haircosmetics, Jaegermeister

o Boston, USD 1.25 million investment

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INVESTING IN EQUITY CAPITAL

1. CROATIAN PRE-SEED FUND o invests in SMEs that are in early phase of operation transition from the end of

product or service development phase to commercialization with a high growth potential on international

o provides necessary financing (de minimis aid) of start-ups that precedes later investments by regional or domestic venture capital funds

o EUR 2.5 million capital (planned)


http://www.hamagbicro.hr/wp-content/uploads/2015/05/IMG_8982.jpg

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INVESTING IN EQUITY CAPITAL

2. VENTURE CAPITAL FUND – in cooperation with the World Banko EUR 20 million, of which no less than 40% will be invested by private investorso funds will be invested in equity capital of innovative SMEs for specific time o innovative and high-tech companies will have easier access to finances

3. REGIONAL VENTURE CAPITAL FUND o joint initiative of the European Investment Fund, European Commission and

the European Bank for Reconstruction and Development o fund’s value: EUR 40 milliono fund invests in equity capital of innovative SMEs in South East Europeo investment per SME: up to EUR 1.7 million


Support to investors and internationalization

o Act on Investment Promotion and Development of Investment Climate (2012, amendments 2013)

• Minimum required investment (minimum 25 % of investment costs)1. Micro companies - EUR 50,000 and 3 new jobs2. Small and medium enterprises - EUR 150,000 and 5 new jobs

• Criteria for defining SMEs:


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Enterprise Staff count Sales Total assetsMicro ≤ 9 ≤ €2 mil ≤ €2 milSmall 10 - 49 ≤ €10 mil ≤ €10 mil

Medium 50 - 249 ≤ €50 mil ≤ €43 mil


o Activities that benefit from financial incentives:

• Development and innovation activities - improvement and modernization of products, series of products, production processes and production technologies

• Supporting business activities - client relationship centers, logistic and distribution centers, centers for developing information technology and software, centers for outsourced activities

• High added value services - creative services, tourism, together with management, consultancy and education services


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o Types of financial incentives:

1) Tax incentives - decrease of corporate income tax rate, depending on the amount of the investment and the number of new jobs created


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Investment amount

Number of new jobs created

Corporate income tax

rateNumber of

years≥ 50.000 € * ≥ 3 10% 5

0.15 – 1 million € ≥ 5 10% 10

1 – 3 million € ≥ 10 5% 10

> 3 million € ≥ 15 0% 15



2) Non-refundable aid for eligible training costs – depending on the size of the enterprise and the type of the training


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Enterprise category

Aid amount (as a percentage of the eligible training costs)

Specifictraining

Generaltraining

Large 25% 60%Medium 35% 70%

Micro and small 45% 80%



3) Additional non-refundable aid for eligible costs of new jobs created in specific business activities - depending on the type of the business activity non-refundable

4) Non-refundable aid for the purchase of high-tech equipment/machinery for development and innovation activities - up to 20% of eligible costs (max. 0,5 million €)

5) Non-refundable aid for capital investments above 5 millions € and above 50 new jobs created - depending on the unemployment rate in the county in which investment project is located

6) Non-refundable aid for new jobs created in labour intensive investment projects - depending on the number of new jobs created


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Thank you for your attention!

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Croatian Agency for SMEs, Innovations and Investments www.hamagbicro.hr

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