Innovative entrepreneurship in Croatia

Are entrepreneurs in Croatia prepared for the competitive challenges within the EU? To which extent do they commit themselves to innovation, and which factors hamper their development? Based on an overview of theoretical and empirical literature about the role of entrepreneurs for establishing competitive economic structures and the impact of venture capital on innovation, this book offers answers to these questions. The analysis of the institutional framework for small and medium-sized enterprises in Croatia is complemented by a field study on high-tech enterprises in Zagreb that identified a lack of capital and shortcomings in management skills as the basic obstacles to growth. Given these insights, it is assessed whether an intensified application of venture capital that could help overcome the current problems is a feasible option for Croatia; obstacles on both demand and supply side are identified. The book targets students, researchers and professionals in the fields of transition, entrepreneurship, innovation management, venture capital finance and all those with an interest in recent developments and prospects of the Croatian economy. The authors are economists at Johann Wolfgang Goethe-University, Frankfurt am Main. Their focus of research is on transition and integration processes in South Eastern Europe, mainly Croatia