Skip to main content

YouthWiki

EACEA National Policies Platform: Youthwiki
Romania

Romania

3. Employment & Entrepreneurship

3.9 Start-up funding for young entrepreneurs

On this page
  1. Access to information
  2. Access to capital

Access to information

While most of the support for young entrepreneurs have been available in packages: training and small start-up funding, within EU funded project under the European Social Fund, the communication in this respect have been only project based and no long term strategy was designed.

 

No other information is available about top-level policy measure implemented to ensure that young people know about the opportunities, funding and services they can receive as young entrepreneurs.

 

Access to capital

In 2017 the former Ministry for the Business Environment, Commerce and Entrepreneurship (part of the Ministry of Economysince November 2019) launched a programme dedicated to funding new business: the programme Start-Up Nation - Romania. The programme is similar with the programmes implemented in the past, using funding from the European Social Fund to support start-ups. Start-Up Nation - Romania uses national budget funds to support start-ups with a maximum of 200 000 lei (about 43 000 Euro). The programme was launched in 2017 and other calls have been published in December 2018 and October 2019.

 

Although opened and promoted as a programme for young people, is not designed specially for young people, and older entrepreneurs can apply as well. The programme supports small start-ups viable for at least 2 years after the fist year when they have been funded and creating at leas one job. 

 

In 2017, the application process to the Start-Up Nation programme began on June 14, 2017 and closed on July 14, 2017.During this time, 19,296 projects were submitted. Out of the total of 19,296 submitted projects, 8,653 were declared admissible and funded. Due to changes in the structure of the Ministry, the information Start-Up Nation 2017 on these programmes is no longer available online.

 

In 2018, the Romanian government selected the grant administrators for a programme similar to Strt-Up Romania, called Romania Start-Up Plus. The programme supports start-ups for all ages entrepreneurs with up to 40 000 Euro sing European funds form the European Social Fund through the Operational Programme Human Capital. In 2018, the Managing Authority of the programme, at the Ministry of European Funds, selected 195 organisations and universities to manage grant schemes for projects. Part of the funding was directed to entrepreneurship training, but the most part of the funding was re-granted for small start-ups in very similar conditions with Start-Up Romania.

 

Funding for start-ups and training have been available in for hundreds of young people within a programme of the Ministry of Economy, Commerce and the Relationship with the Business Environment between 2010 and 2014. In 2015 and 2016 the programme was not targeting young people, but all start-ups, for all ages entrepreneurs. Due to changes in the structure of the Ministry, the information on these programmes is no longer available online.

 

Other programmes for entrepreneurship supported by the Romanian government have been:

  • Programme for the development of marketing activities of products and market services (no longer available in 2019)
  • Programme for the development of the entrepreneurial culture among women managers in the SME sector (available until 2016)
  • National multiannual micro-industrialization programme (available until 2018)
  • Multiannual national programme for supporting crafts and handicrafts (available until 2016)
  • The Romania HUB programme - integrated training program, which provided students, entrepreneurs and potential entrepreneurs, information, support, technical assistance and counselling, as well as an institutional framework for developing entrepreneurial capacities and increasing the competitiveness on the local and international market of small and medium enterprises (available until 2017).

 

The Romanian Government implemented a programme funded by the Swiss Contribution (until 2019) and carried out in partnership with CEC Bank for granting loans for investments made by SMEs. Although opened and promoted as a programme for young people, is was not designed specially for young people, and older entrepreneurs can apply as well.