Over 1,100 firms apply to Romania's Start-Up Nation scheme on first day after launch

About 80 companies applied during the first half hour of registration after the third edition of the Start-Up Nation scheme, providing for grants of up to RON 200,000 (EUR 50,000) aimed at new investments, green energy, digitalization and entrepreneurial training, was launched in Romania on July 19.

In the first hour, their number exceeded 250, while a total number of 1,100 firms applied during the first day, Ziarul Financiar reported.

Entrepreneurs can enrol in the program until September 1. Only the companies that were established after January 1, 2020, and are not recipients of the previous editions of the scheme are eligible.

The scheme has a total budget envisaged at RON 2.2 bln - out of which the Government has secured RON 520 mln so far and is expected to provide the rest under the budget revision.

Grants of up to RON 200,000 (EUR 40,000) are extended to projects generating at least two workplaces, while projects generating only one workplace will get RON 100,000 (EUR 20,000).

CEC Bank announced that it was selected by the Ministry of Entrepreneurship and Tourism (MAT) as a partner credit institution for the development of the national programs to encourage and stimulate the establishment and development of SMEs in the period 2022-2027. CEC Bank will facilitate the eligible beneficiaries to open current accounts for the collection of the non-reimbursable financial allowance (AFN) and will offer interested customers bridge loans for pre-financing and investment loans for co-financing their own contribution at advantageous cost conditions.

Through the previous Start-Up Nation programs, CEC Bank granted loans amounting to about EUR 500 mln.

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