Lender Raiffeisen Bank has picked for financing 83 Romanian start-ups in the second edition of the “factory by Raiffeisen Bank” program. They will receive grants totaling over EUR 3 million.
Compared to the first edition, the number of winning projects and the total amount of funding have tripled, the bank announced in a press release.
The 83 start-ups in this second edition are active in the sectors of services (39%), manufacturing (35%), IT&C (13%), and education (7%). Among the winners, 74% of entrepreneurs have applied for funding to allow them to invest in their business development, while 26% aim to increase their working capital.
Some 315 projects were submitted for funding, and 127 interviews with entrepreneurs took place. Out of the 315 projects submitted, 83% come from urban areas, and 17% from rural areas.
Most winning projects are from the Bucharest-Ilfov region and Cluj, Galati, Ialomita, and Iasi counties.
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