BAIF Fund for Start-ups Presented

Start-ups will soon have access to the BAIF financial instrument that will assist them in launching their businesses and realizing their business ideas, which was presented on Monday at the Business Technology Incubator of Krapina-Zagorje County.

A final conference of the BAIF – Business Angels Impact Fund project was held there today, aimed at establishing a new financial instrument in Croatia for investments with social impact. Its holder is Krapina-Zagorje County, and the coordinators are the Zagorje Development Agency, the Entrepreneurial Center of KZŽ, Feelsgood Capital Partners, and the Croatian Employers’ Association.

The director of the Entrepreneurial Center, Helena Matuša, stated that the project has gathered more than a hundred start-ups from all over Croatia in 18 months.

– The main goal of the project was to create a new financial mechanism that would encourage the investment activities of our business angels and other investors, so that a business angel and the BAIF fund invest the same amount in the start-up – said Matuša.

Start-ups in the BAIF community have the support of 15 national and 20 international mentors, as well as 15 investors gathered in the Angel think tank.

– We consider this an excellent investment that will enable young companies not only from the Krapina-Zagorje County area but also from all over Croatia to access funds – said Krapina-Zagorje County Prefect Željko Kolar.

The president of the HUP Association of Small and Medium Enterprises, Igor Škrgatić, emphasized that the project addresses essential issues that need to be changed in the economic environment, namely financing start-ups with fund capital.

Renata Brkić from Feelsgood Capital Partners stated that the Fund manages 30 million euros and that the ultimate goal is to establish the financial instrument ‘Business Angel Impact Fund’ by the end of the year – a fund for co-investment with private investors and business angels in companies in the earliest stages of development.