Lateral's Investment & Trade Meeting with President, Kolinda Grabar-Kitarović in Croatia
Lateral’s Chief Operations Officer, Thushara Weerakody and Senior Consultant, Martin Cop embarked on an investment and trade visit to Croatia to discuss opportunities in the fast growing ICT industry.
They were invited to meet the Croatian President, Kolinda Grabar-Kitarović at the Presidential Palace in Zagreb at an event held to announce measures being implemented to make it easier to do business and trade in one of the fastest growing economies in Europe.
Thushara and Martin also met with a number of business leaders including the President’s husband First Gentleman Jakov Kitarović, who is heavily involved with promoting new businesses and is himself a director of a new technology start-up focused on providing high speed VPN solutions using dedicated hardware.
Back to blog post list Enquire now
They travelled throughout Croatia and met with a number of innovative IT start-up’s including a fully integrated cloud based company that produces Hotel Management software systems including an automated laundry asset management system, a company that develops sensors that can do non-invasive tests for mineral deficiencies (without the need for blood tests), and a company that is attempting to create an automated Law system using Artificial Intelligence.
The ICT sector is one of the most developed sectors of the Croatian economy. The Croatian government plans to invest about $250 million each year through 2020 to continue construction of next generation broadband and ICT development. It is estimated that by 2020, fifty percent of the population will have ultra-fast access to the internet which will be more than 100Mbps while others will have an average speed of 30Mbps.
The cloud computing sector was is growing at 30% per year, totalling 5% of the total IT market. It is the fastest growing segment of IT consumption in the country.
Large opportunities lie in the public sector, with EU funds applied to e-Government, e-Taxation, e-Health and the justice system.
The Association of Croatian Independent Software Exporters (CISEx) estimated that during 2016-2020 there could be about 30,000 new jobs opened by IT startups in Croatia, primarily related to offering cloud solutions to the public sector as well as to small and medium businesses.
The business trip was a great success and presented many opportunities that have great potential for Lateral. Lateral have been invited back to attend and present innovative concepts to the President at the G2 Summit in November. The G2 Summit aims to connect Croatians abroad with people and business opportunities in Croatia via practical online and offline knowledge-sharing, matchmaking and networking forums to drive a new era of Croatian economic development, growth and productivity.