With Romania being one of the three leading countries accounting for over 70% of the ecosystem enterprise value in the CEE region, it’s no surprise that Romania is also a significant player in the global startup ecosystem – with a robust network of NGOs, accelerators, and incubators.
Interestingly, innovation spreads beyond the bustling city of Bucharest – with Cluj-Napoca being a prime location for tech entrepreneurs. To unlock the power of entrepreneurship across the country, Endeavor Romania traveled to Cluj to co-host one of the most anticipated events in the CEE region in partnership with Techsylvania and EBRD (the European Bank for Reconstruction and Development).
How is Endeavor Romania advancing the pay-it-forward ecosystem?
Endeavor Romania is a leading organization dedicated to fostering entrepreneurship. As part of the Endeavor Network, founded back in 1997, Endeavor Romania is one of the 40+ Endeavor offices around the globe that offer unparalleled access to a network of mentors, investors, and industry experts.
To be more precise, Endeavor Romania plays a crucial role in propelling entrepreneurial growth and driving positive economic impact in Romania, by selecting, supporting, and investing in top founders and helping them achieve large-scale impact.
Endeavor Romania travels to Cluj-Napoca in partnership with Techsylvania and EBRD
To bring Endeavor closer to the local communities in Romania and spread the message further into the startup ecosystem, Endeavor Romania traveled to Cluj and co-hosted a major networking event in partnership with EBRD and Techsylvania.
Techsylvania is a leading tech event in the CEE region that over the past decade has brought 20,000 tech aficionados to Cluj and helped like-minded people connect and pave the way for the next generation of founders.
Cluj-Napoca: Romania’s Silicon Valley
Here we should note that in recent years, the city of Cluj-Napoca has experienced a remarkable growth surge and has established itself as an innovation hotspot, referred to by many as Romania’s Silicon Valley. For instance, between 2008 and 2018 alone, Cluj recorded growth rates of 115% for the gross domestic product, 171% for private revenues and 115% for the gross value added.
As Mihnea Craciun, Managing Director of Endeavor Romania, shared before the event:
“When we launched Endeavor Romania in 2021, I envisioned a day when we would proudly showcase Cluj-Napoca, a city synonymous with tech talent, innovation, and impact… Our upcoming event is more than a mere gathering; it is a testament to the limitless possibilities that lie within the entrepreneurial landscape and the power of dreams.”
The importance of partnerships in multiplying the entrepreneurship effect
Dreams don’t happen overnight, for sure. As international networks like Endeavor work to build their presence and impact in Romania, it’s crucial to identify the right partners that are aligned in mission and dreams. And the recent partnership with EBRD and Techsylvania was a testament to how brains and finance can come together in a regional setting and drive change.
The evening was honored by the presence of two emblematic entrepreneurial business people from Cluj: Voicu Oprean, the CEO and founder of AROBS, and Tiberiu Moisa, the Deputy General Director of MidCorporate & SMEs at Banca Transilvania, both board members of Endeavor Romania.
Reflecting on the journey of Techsylvania, Voicu Oprean reminisced about the remarkable transformation of the local landscape:
“If I recall correctly, Techsylvania began a decade ago. Back then, startups were pitching their ideas in a car, and today, we have designed the first Romanian electric car. The local ecosystem has grown exponentially, attracting numerous entrepreneurs and investors. However, there is now a pressing need for early-stage companies to scale up, and Endeavor is effectively addressing this by supporting the growth journeys of local entrepreneurs.”
Tiberiu Moisa also emphasized the significance of collaboration within a burgeoning ecosystem of creators to drive innovation forward:
“Banca Transilvania, the entrepreneurs’ bank, joined Endeavor right from its inception because we believe that true innovation arises from strategic partnerships with creative stakeholders, suppliers, and clients. This is how innovation permeates our work and ultimately benefits our customers.”
How will the Romanian landscape keep changing and benefiting people? Stay tuned.