The City of Dubrovnik signed a Memorandum of Understanding with the World Business Angels Investment Forum (WBAF) to boost innovation in tourism and to position the city as the smart city of the Adriatic.

(21 April, Dubrovnik) The understanding, signed by Dubrovnik Mayor, Mato Frankovic, and WBAF Chairman, Baybars Altuntas, is expected to strengthen the cooperation between Dubrovnik and business angels from around the world, particularly the EU, through investments, information exchange, and education.

Frankovic said that cooperation with WBAF should boost start-up companies as a different type of economic activity in Dubrovnik.

Mr Altuntas is a great innovator who has shown us how to develop small start-up companies. This is of particular interest to us because most of our commercial activities are based on tourism. We will cooperate with Dubrovnik University and the Rochester Institute of Technology-Croatia on this project. I believe we will become a centre for new commercial activities, including ones that aren’t exclusively related to tourism’, Frankovic said.

Altuntas welcomed Dubrovnik’s desire to become a global centre for tourism innovation.

Innovation in tourism is as important as innovation in other industries. Every city or country that invests in innovation makes a great investment for its future generations’, Altuntas said. He added that education for entrepreneurship was much more important than just putting money on the table.

More than financing, it’s important for entrepreneurs to learn new ways of thinking and to acquire skills that are necessary for developing their business. Good business ideas will find their way to financing’, said Altuntas, who recently visited Croatia. In addition to Dubrovnik, he also visited the Adriatic city of Split, Zagreb, and the northern town of Krapina.


Please enter your comment!
Please enter your name here