Business Incubator in Vukovar Ready to Accept Startups

The project BIC – Business Incubator Vukovar, valued at 910 thousand euros, has been completed in the Economic Zone in Vukovar, with the EU co-financing 80 percent and the remaining 20 percent provided by the Fund for the Reconstruction and Development of the City of Vukovar.

The project implementation lasted 20 months, resulting in a renovated and fully equipped building with an area of 1,125 square meters, featuring 10 business spaces ranging from 43 to 70 square meters, a pre-incubation area with 10 workstations, a modern laboratory for renewable energy sources, and other facilities. Project manager Dragan Njegić expects that the first startup entrepreneurs could move in by mid-March.

Companies that have not been registered for more than two years can apply for space in the Business Incubator Vukovar, and they can use the services for up to three years. They can use the space for free for six months, then pay 3 kuna per square meter for the next six months, 6 kuna per square meter in the second year, and 9 kuna in the third year. They are entitled to free internet, the possibility of consulting and mentoring, education, and a range of other benefits and technical support.

Assistant Minister of Regional Development and EU Funds Dragan Jelić is pleased that the project was realized by attracting EU fund resources.

– It is known that such incubators are the best for young companies, those that may not have enough capital to build their spaces or start production. We hope that larger companies will emerge from the incubator that will lease land in the economic zone and employ as many workers as possible, said Jelić.

He believes that the project is important for young people from the Vukovar area so that they do not leave for abroad. Experiences with similar business incubators are quite good, especially when it comes to IT companies and those that do not require much initial capital, says Jelić.

The Mayor of Vukovar, Ivan Penava, says that the Business Incubator will provide an opportunity for new businesses where young people have business ideas, and through the incubator, they will bridge the time of lack of money and inexperience.

The Business Incubator is part of the future Business-Innovation Center, which is expected to emerge in the economic zone by the end of the year, valued at 30 million kuna, which will also include a production center, an innovative entrepreneurship center, and an educational center.