Deadline extension for Romania's Start-up Nation program, uncertain

After initially extending the deadline to submit projects for the Start-up Nation program until July 28 this year, Ilan Laufer, the minister for business, trade and entrepreneurship, announced yesterday on his Facebook page the deadline would remain July 14. The business community had requested to extend the deadline. The potential beneficiaries have reported a series of technical deficiencies in the procedures to set up the companies and get the necessary documents. The Start-Up Nation program became active on June 15, and the potential beneficiaries had 30 days to submit their business plans. The program has a budget of RON 1.7 billion (EUR 371.8 million). It will provide non-reimbursable financial grants of up to RON 200,000 (EUR 44,000) for new business initiatives set up after January 30, this year. The financing entirely covers the investment in the project. However, the financed startups need to create minimum two jobs, with indeterminate length labor contracts. Romania’s Start-up Nation program sees 2,500 entrepreneurs sign up on first day editor@romania-insider.com