Generali Insurance, together with project partners Privredna banka Zagreb and the Association Glas Poduzetnika, successfully conducted a new edition of the SME EnterPRIZE competition aimed at small and medium-sized enterprises to support their sustainable transformation. Croatian small and medium-sized enterprises that are clients of Generali Insurance, Privredna banka Zagreb, or members of the Association Glas Poduzetnika could submit their projects in two categories: Community and Environment. An expert jury, composed of prominent domestic experts from the academic community, media professionals, and entrepreneurs, selected two finalists in each category, and the first and second place projects were awarded. – Generali organized this year’s SME EnterPRIZE competition in Croatia together with project partners Privredna banka Zagreb and the Association Glas Poduzetnika. I am pleased that this year’s edition of the competition has generated great interest among entrepreneurs. We received over 140 applications, representing a significant increase of 40 percent compared to last year. This is a great indicator that an increasing number of companies recognize the importance of sustainability and want to be part of the SME EnterPRIZE initiative. The companies presented inspiring business models, indicating a strong interest and awareness of the importance of sustainability in business. We want to showcase their inspiring business stories to encourage other entrepreneurs to follow their example – said Mario Carini, CEO of Generali Insurance. Winners by Category In the Community category, first place went to the Social Cooperative Humana Nova, an eco-social enterprise from Čakovec. Humana Nova includes people with disabilities and other socially excluded groups in all its work processes, seeking innovative and sustainable solutions for their employment. Through the management of textile waste, collection, reuse, and recycling of textiles, Humana Nova offers environmentally sustainable solutions and reduces the negative carbon footprint and impact on the environment. —
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Second place in the Community category, as last year, was won by the company Hedona from Križevci. Founded 10 years ago with the aim of employing people with disabilities in the production of handmade chocolates and pralines, the company currently employs 19 people with disabilities who have the opportunity to secure a dignified life for themselves and their families through their work and effort. Special efforts are made to continuously introduce innovative models to create new jobs and ensure even better integration for people with disabilities.
In the Environment category, first place was won by the company Magic Forest from Grubišno Polje. They were awarded based on Project O2, which raises awareness of the need to protect forests through socially driven tree planting in burned, cut, and degraded areas, using innovative reforestation systems and educational programs. They restore and plant new forests much faster using drones and SeedBombs packages. So far, they have engaged over 365 individuals, planted more than 45,500 trees, reforested 102 thousand square meters, and engaged 10 companies.
Second place in the Environment category was won by the company Sobočan from Mursko Središće, which is engaged in furniture and equipment production. It is one of the few manufacturing companies in Croatia that meets almost 70 percent of its energy needs in production from solar energy and actively conducts a tree planting campaign with newly planted 8,500 oak saplings as part of the reforestation campaign.
Generali awarded the winner of each category with an amount of 4,000 euros gross and an annual Digital only subscription for Bloomberg Adria. The second place projects in each category were awarded by Generali Insurance with a business package of annual travel health insurance and accident management insurance up to 2,000 euros gross or an equivalent prize, as well as an annual Digital only subscription for Bloomberg Adria worth 130 euros.
Hero of Sustainability of the SME EnterPRIZE 2023 Competition in Croatia
Among the category winners, the international scientific committee, which also includes experts from the academic community, institutions, and the economy, declared the Social Cooperative Humana Nova from Čakovec the Hero of Sustainability of the SME EnterPRIZE 2023 competition in Croatia. Generali awarded this best sustainable national entrepreneurial practice with a prize advertising package on Bloomberg Adria platforms worth 6,250 EUR gross and will have a unique opportunity to participate in the international Generali SME EnterPRIZE event in Brussels on November 28, 2023.
Generali’s and Bocconi’s White Paper
SME EnterPRIZE is a strategic initiative of the Generali Group dedicated to small and medium-sized enterprises as the foundation of the European economy and one of the main drivers of sustainable transition. Embedded in the strategic plan “Lifetime Partner 24: Driving Growth”, the SME EnterPRIZE initiative promotes a greener and more inclusive economy in line with the European Green Deal and the Next Generation EU initiative. Small and medium-sized enterprises that have adopted an ESG approach are benefiting in all areas, surpassing already positive results recorded last year, as confirmed by this year’s research as part of the SME EnterPRIZE White Paper project, prepared by the SDA Bocconi School of Management in collaboration with Generali.
In collaboration with the Generali Group, researchers from the SDA Bocconi Sustainability Lab prepared the White Paper, a comprehensive report that provides an overview of scientific and practical literature on sustainability and SMEs across Europe. It contains key insights obtained by interviewing thousands of small and medium-sized enterprises and aims to understand their strategic approach to integrating sustainability, as well as the barriers they face in business.
When asked to identify the three main factors that favored or required the adoption of a more formalized approach to sustainability, SMEs generally highlight high energy costs, regulatory requirements, and the vision and sense of social responsibility of entrepreneurs. The relative importance of these drivers may vary slightly from country to country, but they consistently play a significant role in shaping the sustainability strategies of small and medium-sized enterprises. Thus, high energy costs, with an overall average relevance of 43 percent, peaking at 52 percent in the Czech Republic and 49 percent in Croatia, indicate that the economic implications of energy costs play a significant role in motivating small and medium-sized enterprises to adopt sustainability strategies.
According to the research, small and medium-sized enterprises in Croatia have also benefited significantly from structured sustainability strategies. Key aspects that had a positive impact on business included better environmental impact, employee satisfaction, better risk management, customer satisfaction, and better insurance conditions. Small and medium-sized enterprises whose owners have a strong sense of responsibility are more likely to adopt formalized sustainability strategies. This fall, Generali and SDA Bocconi will publish the White Paper based on this research in full.
