Technology: Romanian startups are thriving in the tech industry, with a focus on software development and IT services. Some of the most popular tech startups include UiPath, Zitec, and TypingDNA.
E-commerce: Online retail is a growing industry in Romania, with startups such as eMAG and FashionUp leading the way.
Healthcare: The healthcare industry is also seeing growth in Romania, with startups such as Medipass and Endocuff making a big impact.
Startup Funding:
VC Investment: Romania has a growing VC industry, with active players such as Early Game Ventures, Gecad Ventures, and Innovation Labs. In 2020, Romanian startups raised over €100 million in VC funding.
Business Angels: Business angels play an important role in funding Romanian startups, with organizations such as the Romanian Business Angels Network providing support and resources to entrepreneurs.
Incubators and Accelerators:
Techcelerator: A leading accelerator in Romania, focused on technology startups and helping entrepreneurs take their ideas to market.
Gecad Start: A startup accelerator that provides mentorship, networking opportunities, and seed funding to early-stage entrepreneurs.
Government Initiatives:
Start-Up Nation Program: A government initiative aimed at supporting entrepreneurship and innovation in Romania. It provides funding, mentorship, and resources to help startups grow and succeed.
Innovation Hub: The Romanian government has also established an innovation hub to support the growth of startups and help entrepreneurs take their ideas to market.
Comparison to the Region:
Romania is becoming a hub for startups in Eastern Europe, with a growing ecosystem and supportive government initiatives. While still smaller than neighboring countries such as Poland and Czech Republic, Romania is poised for continued growth in the coming years.