Romania has launched the fourth edition of its Start-Up Nation program aimed at supporting local entrepreneurs. Approved by the Government on August 8, this initiative will span five years with a budget of €450M. Of this amount, 80% will be sourced from European funds under the Education and Employment 2021-2027 program, while the remaining 20% will come from the national budget.
In a shift from previous editions, the majority of the funding (€30oM) will be allocated to providers of educational services to help train future entrepreneurs.
The Government plans to create an online platform where companies and licensed professional training organizations can register, making their services accessible to a wider audience.
The educational aspect of the program is available to aspiring entrepreneurs aged 30 and under, while the grant component is targeted at those aged 35 or younger.
Individual grants for each project will be set at €50k, an increase from the previous amount of €40k.
The Minister of Economy, Entrepreneurship, and Tourism announced that the platform for professional training courses will be operational in September, with entrepreneurs invited to submit their projects starting in October.
