Romania launches new Start-Up Nation scheme for entrepreneurs

Romania’s Government endorsed on August 8 the fourth edition of the Start-Up scheme dedicated to local entrepreneurs, with an implementation calendar of five years and a budget of EUR 450 million, out of which 80% is from European funds under the Education and Employment 2021-2027 program and 20% from the national budget.

Unlike the previous editions of the scheme, most of the money (EUR 300 million) will go to the providers of educational services, which will prepare future entrepreneurs.

The Government will set up an online platform on which companies and licensed professional training firms will sign up so that their services are available to as many people as possible.

The educational component of the scheme is available to prospective entrepreneurs aged 30 or younger, while the grant component is available to entrepreneurs aged 35 or less (with a sub-component for the Roma minority).

The individual grants per project would be RON 250,000 (EUR 50,000) compared to RON 200,000 in the previous schemes.

The Minister of Economy, Entrepreneurship, and Tourism announced that the platform for professional training courses will be functional in September, and the entrepreneurs will be invited to submit their projects starting in October.

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