Raiffeisen Bank has selected for financing another 112 startups from various industries under the third edition of the "factory by RAIFFEISEN BANK" program.

This year, the bank provides the startup projects with a maximum budget of EUR 50,000 or the equivalent in local currency.

"Our factory of ideas has been very active in the last two months. Together with colleagues in the area of SMEs, risk, PR, digital, and RBL entrepreneurs, we have had online discussions with over 200 entrepreneurs. We were expecting the entrepreneurs to generate fewer business ideas during the crisis, but this was not the case. Romania has many confident and courageous entrepreneurs, ready to carry out their plans," said Vladimir Kalinov, Vice President of Retail at Raiffeisen Bank.

The main industries where the entrepreneurs financed this year by Raiffeisen are services, production, food, IT, education, and health.  Some 70% of the financed entrepreneurs are under 40 years old.

Most startups that participated in the contest were from the Bucharest and Ilfov region (34%), Transylvania (21%), and Moldova (18%).

(Photo: Sarayut Thaneerat/ Dreamstime)

editor@romania-insider.com