Raiffeisen Bank, the Romanian subsidiary of Austrian group Raiffeisen, will provide total financing of EUR 5 mln to some 100 startups that will be selected under the fourth edition of the "factory by Raiffeisen Bank" program.

In the previous three editions of the program, 200 startups were provided mentoring and funds totaling over EUR 8 mln.

The bank says it prioritizes the startup segment, with 4,400 such enterprises among its customer base. factory by Raiffeisen targets innovative businesses that are at the beginning of the road and those that are only at the idea stage, regardless of the field of activity.

"During this period, marked by uncertainties and instability, entrepreneurs are looking for financing and mentoring opportunities in the market. Somehow, last year, we all felt that the entrepreneurial spirit became more creative and effervescent. That is why, starting this year, we decided to give entrepreneurs more time to register their projects, throughout the year, to offer them the possibility to outline a business plan as solid and sustainable as possible," said Vladimir Kalinov, vice president of retail at Raiffeisen Bank.

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andrei@romania-insider.com