"The project was co-financed with funds from the Aid for Recovery for Cohesion and European Areas "REACT-EU" instrument based on the Operational Program Competitiveness and Cohesion 2014-2020."
Beneficiary of the project: ESCO – FOFONJKA doo; OIB: 92264001001, 29 September 4, 43 000 Bjelovar
Short description of the project
The company ESCO - FOFONJKA doo has signed with the Ministry of Economy and Sustainable Development and the Croatian Agency for Small Business, Innovation and Investments (Hamag Bicro) the Grant Agreement number: KK.11.1.1.01.0661 for the implementation of the project "Strengthening the competitiveness of the company ESCO - FOFONJKA with investments in digital and green transition".
In order to strengthen the market position, increase competitiveness and business efficiency, ESCO - FOFONJKA doo plans the implementation of an innovative production process and business organization with the aim of achieving technologically advanced production and digital and green business transition, developing new competencies, increasing production and exports, and preserving existing and creation of new jobs. Target groups: employees of the applicant, customers and suppliers, and indirectly the general public and the local community.
Project implementation period
The project is implemented from July 31, 2021 to September 30, 2023.
General goal of the project
The general goal of the project is to contribute to strengthening competitiveness and encouraging the growth of SMEs in the Republic of Croatia by investing in green and digital technologies in order to increase the ability to respond to market challenges caused by the crisis caused by the spread of the coronavirus and to create conditions for faster and better adaptation of the economy to modern and future ecological and environmental requirements.
Purpose of the project (specific objectives)
1. Investment of the company ESCO-FOFONJKA doo in innovative digital technological solutions with the aim of green, digital and resilient recovery (Indicator: Number of newly introduced technological solutions related to green and/or digital goals – 4)
2. Strengthening the competitiveness of the company on the domestic and foreign markets through the application of digital and green technological solutions and innovative business models in order to increase production, increase exports and preserve existing and create new jobs (Indicators: increased sales revenue by 21.08%; increased export income by 21.10%; increase in employment in companies that receive support - 12 new employees)
Expected results of the project
- Creating a competitive advantage and faster and better adaptation to contemporary and future ecological and environmental requirements.
- Acquisition of a significant number of new machines and complete reorganization of the business, ensuring uninterrupted and high-quality production and sales.
- Ensuring the sustainability of the project results through the contract for the maintenance of equipment and solutions implemented as part of the implementation of the project.
- Increasing the share of the EU market in the production of double-arm springs from 30% to 35% by 2023.
- Changes in the approach to the market when expanding on the domestic market, turning towards a proactive approach where the customer is more intensively searched for and offered the product.
- Expand the scope and volume of business with existing customers or the possibility of geographical expansion.
- Successfully attracting new customers, better market positioning and brand recognition, and creating a positive image by implementing a plan of marketing activities.
- Monitoring of trends and constant improvement of business processes to the needs of the market.
- Employment of 12 new employees as a direct result of the project in question.
The total value of the project is: HRK 18,025,224.34
Total acceptable costs amount to: HRK 12,207,981.41
Amount of co-financing from the European Union: HRK 4,539,052.96
For more information about the project, you can contact Franjo Fofonjka at: esco@esco.hr
For more information about the European Structural and Investment Funds, visit www.strukturnifondovi.hr
For more information about the Operational Program Competitiveness and Cohesion, visit https://struktrunnifondovi.hr/eu-fondovi/esi-fondovi-2014-2020/op-konkunternost-i-kohezija/