Analiza razvoja tržišta rizičnog kapitala i financiranja startupa u Hrvatskoj i srednjoistočnoj Europi

master's thesis

• Title (english): Analysis of venture capital market development and startup financing in Croatia and Central and Eastern Europe
• Author: Ivan Milutinović
• Mentor: Mihovil Anđelinović (mentor)
• Committee member: Mihovil Anđelinović (predsjednik povjerenstva)
• Committee member: Maja Mihelja Žaja (član povjerenstva)
• Committee member: Marija Davidović (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Finance); Zagreb
• Defense date and country: 2024-09-27, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Finance

Abstract

U radu se analiziraju razvoj tržišta rizičnog kapitala i načini financiranja startup poduzeća u Hrvatskoj i srednjoistočnoj Europi, te učinci koje postižu na inovacije i rast gospodarstva. Ulaganje rizičnog kapitala u startupove nudi značajan potencijal za rast i inovacije, a ujedno doprinosi jačanju izvoza i konkurentnosti gospodarstva. Uzimajući u obzir brzi rast industrije rizičnog kapitala, u radu se detaljno analiziraju najnoviji statistički podatci i izvještaji kako bi se prikazalo aktualno stanje i trend razvoja tržišta rizičnog kapitala. Detaljno se objašnjavaju svi važni elementi, od nastanka startupova i njihovog životnog ciklusa do razvoja financijske infrastrukture potrebne za njihovu potporu. Također se opisuje poslovni model fondova rizičnog kapitala kako bi se dobila jasna slika o načinu njihova funkcioniranja i preuzimanja rizika. Analizira se hrvatsko i regionalno tržište rizičnog kapitala te razvoj startup ekosustava, pri čemu se u fokus stavljaju ekonomski pokazatelji prikupljenog kapitala i njegovi učinci. U radu se uspoređuje razvoj domaćeg i regionalnog tržišta s ostalim svjetskim tržištima, te pokazuju sličnosti i razlike među njima. Identificira se i uloga Europske unije i Hrvatske u razvoju ekosustava, zakonodavstva i financiranja fondova rizičnog kapitala. Cilj rada je dati detaljnu sliku hrvatskog startup ekosustava, ukazati na njegove prednosti i nedostatke naspram drugih zemalja u regiji i svijetu te pokazati njegovu razvijenost i jedinstvenost.

Abstract (english)

The paper analyzes the development of the venture capital market and financing methods for startup companies in Croatia and Central and Eastern Europe, focusing on their impact on innovation and economic growth. Investing in startups through venture capital offers significant potential for growth and innovation, while also contributing to strengthening exports and the competitiveness of the economy. Considering the rapid growth of the venture capital industry, the paper provides a detailed analysis of the latest statistical data and reports to present the current state and development trends of the venture capital market. The paper thoroughly explains all relevant elements, from the inception of startups and their life cycle to the development of the financial infrastructure necessary to support them. The business model of venture capital funds is also examined to provide a clear picture of their functioning and risk-taking models. The Croatian and regional venture capital markets are analyzed alongside the development of the startup ecosystem, with a focus on economic indicators of raised capital and its impact. The paper compares the development of domestic and regional markets with other global markets, highlighting similarities and differences between them. The role of the European Union and the Republic of Croatia in the development of the ecosystem, legislation, and financing of venture capital funds is also identified. The aim of the paper is to provide a detailed overview of the entire Croatian startup ecosystem, highlighting its strengths and weaknesses compared to other countries in the region and the world, and demonstrating its level of development and uniqueness.

• Keywords: startup; rizični kapital; investicijski fondovi; financiranje inovacija
• Keywords (english): startup; venture capital; investment funds; innovation financing
• Language: croatian
• URN:NBN: urn:nbn:hr:148:414645
• Study programme: Title: Business economics; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: sveučilišni magistar ekonomije/sveučilišna magistra ekonomije (sveučilišni magistar ekonomije/sveučilišna magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2024-09-27 12:03:55