BusinessSaturday 08 April 2017

Start-Up Nation - an investment opportunity offered by the Romanian government

A program that was meant to support entrepreneurs interested in starting a business was approved by the Romanian government through an emergency ordinance

Start-Up Nation - an investment opportunity

In terms of business, we can say that there are two major trends at international level: that of multinationals and that of start-ups. The first trend confirms the fact that reputation, size and experience are guarantees of success, while the second proves that ideas and imagination can actually produce money. If in terms of large, well-established companies, Romania cannot boast with many internationally recognized Romanian corporations, in terms of start-ups, the country may be perceived as a pretty vibrant area.            

Fortunately, this potential has been noticed by local authorities as well, which recently approved the Start-Up Nation, a program designed to stimulate entrepreneurship and the development of new businesses. Through it, interested parties can receive up to RON 200,000 (aprox. EUR 45,000) in order to support their start-up initiatives. The amount is non-reimbursable and represents 100% of the eligible costs. The program will be implemented between 2017-2020, and the money will come from both the state budget and EU funds. According to estimates issued by the government about 10,000 small and medium-sized firms could benefit from this aid, thus creating at least 20,000 new jobs annually.            

As a result, with the implementation of this program, Romania really becomes an attractive place for seasoned investors, also giving young creative people the opportunity to make a name for themselves and to actively participate in the country’s economic growth. The program has all the prerequisites to turn into a complete success, especially since young Romanians have already tapped into this international culture of start-ups, most notably in the IT industry, where more and more Romanian companies are becoming regional European and even global players (see for example Bitdefender, Siveco, or Teamnet).  

Sources: ; (photo)  

Claudiu Bolcu




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