Romanian Govt. to launch StarTech Innovation grant program maybe in November

The new Start-Up Nation program aimed at supporting new, innovative companies could begin in November, provided that the authorities can respect the timing of other state aid schemes for companies, said the secretary of state in the Economy Ministry Liviu Rogojinaru.

However, the Government earmarked no money for the program under the August budget revision. Furthermore, the Economy Ministry was not given the RON 1.3 bln (EUR 268 mln) it needs for making the payments related to the previous two editions of Start-Up nation programs (2018-2019).

The opposition Social Democratic Party (PSD) amended the budget revision law in the sense of distributing RON 400 mln for the past editions of the Start-Up Nation program.

In a show on Radio Romania (RRA), Liviu Rogojinaru explained that the Economy Ministry is now busy with the process of distributing the EUR 1 billion grants from EU funds to SMEs, PFAs, NGOs, and individual medical practices.

"You asked me about Start-Up Nation, StartTech Innovation, which are the same, we try as much as possible to unblock it in November. We will probably be super-busy with this billion in September and October, which must be given to people quickly. If we manage to complete this in time, we will try to kick off the Start-Up Nation as well," Rogojinaru said, according to Startupcafe.ro.

The Start-up Nation program, which offers grants for newly-launched companies, was rebranded as StarTech Innovation this year since it would be dedicated to tech start-ups.

(Photo source: Pixabay.com)