More than 150 representatives of the deep-tech scene from Croatia and the region gathered at the Nuqleus Demo Day at HUB 385. Discussions centered on the potential of Croatia's deep-tech ecosystem, while Nuqleus startup teams presented their solutions and plans for startup development to a jury composed of members from six investment funds. The best teams were selected to enter the third phase of the startup program, and in the continuation, you'll find out which teams made it!
Nuqleus Demo Day, the final event of the second phase of the Nuqleus Startup Builder program, was held at on July 4th at HUB 385, bringing together over 150 representatives of the regional startup ecosystem – scientists and experts from 15 Croatian scientific institutions, representatives from more than 10 domestic and foreign investment funds, successful Croatian entrepreneurs, startups, and public bodies. Ten Nuqleus startup teams participated in the event after completing the second phase of the startup education and idea validation program: Crobotic Solutions, LATOM, Bypack, RockTech Nexus, VirusHunter, Ulpian, PreferAI, NanoWeaver, RNDM Company i TINFE.
Over three months, the startup teams attended thematic lectures and workshops where they acquired the knowledge and skills necessary for the successful development of their startups. The topics covered by the teams included:
- Business Model Canvas & Customer Value Proposition – Gorjan Agačević
- From Scientist to Entrepreneur – Ivo Sluganović
- Equity and Cap Table Management – Peđa Predin, Mislav Vukina, Fran Vukina
- Business Modelling – Josipa Majić Predin
- How Not to Mess Up Software Development (or at Least Avoid Common Mistakes)? – Gordan Kreković
- Hardware Development – Tobias Zvonc
- Basic Legal Aspects for Startups – Marko Mećar
- Fundraising 101 – Vedran Blagus
- Fundraising from a Founder’s Perspective – Matija Šošić
- Inside a VC – Vedran Blagus
The teams also went through several practice presentations in front of the investment committee members (Luka Abrus, Srđa Iveković, Izabel Jelinić, Maja Jelišić Cooper, and Alan Sumina) and the Nuqleus team. The feedback they received was crucial for improving their projects and directing development. Everything they’ve learned during the second phase, the teams had the opportunity to present at Demo Day. The solutions presented by the startups come from various scientific fields – from artificial intelligence and robotics to biomedicine and mining. Their presentations were followed by a jury composed of representatives from domestic and regional investment funds that collectively manage assets exceeding one billion euros.
Inspirational Presentations and Discussions
The event was opened with brief welcome remarks from the Dean of the Faculty of Electrical Engineering and Computing at the University of Zagreb, Prof. Dr. Vedran Bilas, and the Director of the Innovation Centre Nikola Tesla, Assoc. Prof. Dr. Darko Huljenić, who welcomed the participants on behalf of the organizers. This was followed by a presentation from Nuqleus program coordinator Matija Srbić, who touched on the beginnings of Nuqleus and its development over the years. Matija highlighted that Nuqleus already has 13 scientific institutions among its partners and that startups that have gone through the program have so far raised over 1.7 million euros for further development. He also mentioned Nuqleus’s ambitious plans for the coming years, including connecting with deep-tech experts from the USA, forming a consortium with leading Croatian companies to build the Croatian deep-tech ecosystem, and organizing new events to connect the Croatian deep-tech community.
After Matija’s presentation, a panel discussion on the topic “Navigating the Startup Journey: Insights from Previous Generations’ Survivors” was held, featuring startups from previous Nuqleus generations: KalphaTech, Emhance, Cyclops, NADES Design and Calirad . These startups, which are achieving excellent results, shared their experiences in startup development, with the discussion moderated by Nuqleus’s scientific portfolio manager Deni Nurkić. Demo Day continued with a 1-on-1 conversation between renowned Croatian scientist and deep-tech entrepreneur Prof. Mile Šikić, co-founder of the investment fund Oraclum Capital, and Davor Runje, founder of the deep-tech startup airt. Šikić emphasized that initiatives like Nuqleus are extremely important for the ecosystem and the development of startup culture in Croatia because they give scientists the opportunity to think differently from the usual and encourage them to realize their ideas related to the commercialization of scientific research results.
Funding Perspectives for Deep-Tech Companies
The second part of the event included an investor panel discussion on the perspectives and financing of deep-tech companies. The panel featured representatives from Croatian and regional investment funds: Tunya Irkad from 500 Emerging Europe, Joško Bobanović from Sofinnova Partners, Bence Banhalmi from PortfoLion Capital Partners, and Željka Idžan from the Croatian Bank for Reconstruction and Development (HBOR), moderated by our mentor Ante Magzan.
Tunya Irkad from 500 Emerging Europe emphasized that startups need to be patient and that they are the ones who are special, not the investment funds. She also noted that events like Demo Day are extremely beneficial for startups and investors alike, as they allow investors to get acquainted with technological innovations in the region, engage with the deep-tech community, and maintain a presence on the relevant scene. Joško Bobanović from Sofinnova Partners addressed the startups presented at the conference. He pointed out that the startups showcased are high-tech and understand the technology and the problems they aim to solve with it. He also stressed the importance of thinking about business plans as they grow and adapting as effectively as possible to their target market and customers. He added that he is confident we will see at least one unicorn emerge from the Nuqleus program in the future.
Team Presentations (Pitches) and Networking
The main part of the event was the team presentations. Each team had three minutes to present their project, followed by questions from the jury. The jury evaluated the startups based on the quality of the team, the suitability of the solution to the identified problem, the market size, market readiness, and investment readiness. The scores and comments from the jury were key factors in deciding which teams would continue to the third phase of Nuqleus.
In addition to the startup presentations, the conference offered an important networking program, specifically designed for stakeholders in the deep-tech scene, with the aim of fostering networking and developing new collaborations. The entire event was rounded off with cocktails, shared impressions, and suggestions for future collaborations.
Which Teams Advanced to the Third Phase of the Program?
- TINFE – Software and hardware solutions for optimizing the measurement and processing of fluorescence spectra
- Ulpian – AI-based legal source search tool
- RockTech Nexus – Digital platform for underground engineering.
These teams will embark on an exciting final phase of the program, where they will have the opportunity to work individually with Nuqleus experts and mentors in order to develop their businesses and secure investments.
Thanks to Our Partners and Sponsors
- We extend special thanks to our partners and sponsors for their support throughout the year and for recognizing the Nuqleus vision and mission:
Scientific Partners: Ruđer Bošković Institute, Institute of Physics, Faculty of Organization and Informatics Varaždin, Faculty of Science Zagreb, Faculty of Mining, Geology and Petroleum Engineering Zagreb, Faculty of Chemical Engineering and Technology Zagreb, Study of Design (Faculty of Architecture) Zagreb, Faculty of Food Technology and Biotechnology Zagreb, Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture Split, Faculty of Kinesiology Zagreb, Institute of Economics, Zagreb, Faculty of Transport and Traffic Sciences Zagreb
Support Partners: HBOR – Croatian Bank for Reconstruction and Development, HAMAG-BICRO – Croatian Agency for SMEs, Innovation and Investments, EIT Urban Mobility, Penkala Association, U.S. Embassy in Croatia, Vesna Venture Capital, BIOCentar, afekt, Vukina & Partners Law Firm
We also sincerely thank our Demo Day sponsors: Cetina, Korica, Quahwa, Lepi Dečki Brewery, Volim Ljuto, Pipi, and Nutty, who contributed to an unforgettable experience for all event participants.
Nuqleus Sponsors
The Nuqleus Demo Day event is proof that the Croatian deep-tech scene has enormous potential. With the support of scientific institutions, investors, and mentors, we look forward to further developing and strengthening the deep-tech ecosystem and continue to build bridges between the scientific community, industry, and the startup ecosystem, creating a favorable environment for the development of innovation and collaboration.
