Jure Mikuž, Managing Partner at SCV, wrote a column in Croatian medium Vecernji list. Read the whole article on the link or look at the highlights and important takeaways below.
– What does it need to make a startup successful?
- A great portion of luck- if the timing and place is not right that makes it very hard for a startup to be successful despite the effort
- Great team – the right combination of skills, experience and talents. If the founders are too like-minded, the chances for success are thin, since they don’t see and grasp the entire opportunity. If they are too diverse there’s a real chance they will struggle to efficiently work together. Teamwork in a startup is an art.
- Unique product or solution for a sizeable market packaged in the right business model -If the product is technology-wise obsolete, that will make it hard to succeed. The same goes if the market is not big enough to achieve critical business traction. And all the effort goes to nothing if the company doesn’t have an efficient business model to optimise the output.
– Which Croatian companies might be the next unicorns?
No need to operate with names, they are all over the media on a daily basis. We can call them the second generation of technology companies from Croatia. Worth mentioning that we have a number of other investments from the region which can be on this track as well.
I would also stress that the timing for startups from this region is perfect now and there’s a great chance of picking up a good company now.
– From which industries except IT we have potential on a global scale?
SCV is focusing on Business to Business technology companies. This does not imply that it can not be done in the B2C sector and there are examples of successful B2C companies from this region. It is just the fact that internet technologies, mobile technologies, IoT and similar are less capital intensive to be developed to the stage where the founders can raise significant venture funding and thus more doable also in the less developed regions with less capital available.