Romanian entrepreneurs have submitted 19,296 business plans for the Start-Up Nation program, said yesterday Ilan Laufer, the minister for business environment, trade and entrepreneurship, reports local News.ro.

Most of them were from Bucharest (3,000), followed by Cluj (2,300), the minister added. Applicants’ average age is 36 and a half years.

"At the moment, we are convinced that we will succeed in a 100% absorption of the European funds that are allocated to the Start-Up Nation program,” Laufer said.

"We have a maximum potential of 45,000 newly created jobs.”

About 77% of the projects were submitted in cities, whereas the rest came from rural areas.

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. The financed startups need to create at least two jobs, with indeterminate length labor contracts.

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