
        <div>
            <input type="checkbox" class="read-more-state" id="text-from-report"/>
            <div class="read-more-wrap">
                <p><br><img src="https://images.unsplash.com/photo-1614878489082-37fecd98e0b3?ixlib=rb-4.0.3&amp;ixid=M3wxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHx8fA%3D%3D&amp;auto=format&amp;fit=crop&amp;w=1000&amp;q=80" alt="a sunset view of a city with a red sky"></p>
<p><br>Boasting a strong startup ecosystem rooted in Eastern Europe, Romania offers entrepreneurs affordable and highly talented professionals as well as access to the European market. The country is mostly focused on IT and outsourcing, and has created some noticeable hubs in Bucharest, Cluj-Napoca, Timișoara, and Iași. More than 220,000 Romanians are already taking part in the IT scene, mainly as employees, freelancers, and remote workers for foreign companies capitalizing on the local talent pool. Outside the capital of Bucharest, the city of Cluj-Napoca has managed to build a name for itself, with ecosystem developers who understand that the path to growth includes a global mindset. Cluj-Napoca has positioned itself both as a Smart City in the making and as an IT cluster.<br> <div class="read-more-target">
<br>With the outstanding success story of UiPath, Romania’s first unicorn, the country has proven it can foster the entrepreneurial spirit and expand into global markets. In 2021, this trend continued with Elrond, a blockchain platform that surpassed US$ 1 billion in valuation. While there are public strategies aimed at creating 5 unicorns by 2025, it remains to be seen if the country will manage to achieve this ambitious goal in the face of difficult economic conditions.<br>
<br>Much more can be done in terms of public sector involvement in creating a legislative framework conducive to investment. The Romanian startup ecosystem would benefit from governmental focus on building ecosystem strategies and policies, as well as promotion of the startup ecosystem to the world. An increase in entrepreneurial education via secondary schools and entrepreneurship programs would also be welcome.<br>
<br>While there is a gap in pre-seed funding for entrepreneurs, the government has allocated 400M EUR from its National Recovery and Resilience Plan (PNRR) funding for private equity funds. In addition, <a href="https://fixcluj.eu/">FIX Cluj</a>, Romania’s biggest incubator program, offers funding of up to 50,000 Euros for young entrepreneurs.<br>
These programs are welcome as Romania struggles more than other EU member states to keep talent in the country. But in order to create a narrative of entrepreneurship around Romania, the public and private sectors need a more unified approach. The country still has to work on the national mindset in order to foster a climate that supports taking risks on an entrepreneurial path rather than outsourcing their services to other countries.<br>
<br>Progress is being made, however: <a href="https://rostartup.com/about/#what-is-rostartup">ROStartup,</a> a joint public and private action initiative, has set out to create the <a href="https://rostartup.com/2021/11/01/romanian-startup-ecosystem-white-paper/">RomanianStartup Ecosystem White Paper</a> and tackle the challenges that entrepreneurs face. Encouraging signs are also coming from younger startup ecosystems, such as the one in Oradea, where the tech startups are coming together under the <a href="https://www.makeitinoradea.ro/">MakeITOradea</a> initiative.<br>
<br>With strong internet connectivity, a healthy number of accelerators and incubators, and a network of entrepreneurs determined to put their ecosystems on the map, we are optimistic that the Romanian startup ecosystem will soon be reaching new milestones.<br></p>

            </div>
         </div>
        <label style="z-index: 100000;position: relative" for="text-from-report" class="read-more-trigger"></label>
        </div>
        

<br>![a sunset view of a city with a red sky](https://images.unsplash.com/photo-1614878489082-37fecd98e0b3?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHx8fA%3D%3D&auto=format&fit=crop&w=1000&q=80)

<br>Boasting a strong startup ecosystem rooted in Eastern Europe, Romania offers entrepreneurs affordable and highly talented professionals as well as access to the European market. The country is mostly focused on IT and outsourcing, and has created some noticeable hubs in Bucharest, Cluj-Napoca, Timișoara, and Iași. More than 220,000 Romanians are already taking part in the IT scene, mainly as employees, freelancers, and remote workers for foreign companies capitalizing on the local talent pool. Outside the capital of Bucharest, the city of Cluj-Napoca has managed to build a name for itself, with ecosystem developers who understand that the path to growth includes a global mindset. Cluj-Napoca has positioned itself both as a Smart City in the making and as an IT cluster.<br> ==read-more==
<br>With the outstanding success story of UiPath, Romania’s first unicorn, the country has proven it can foster the entrepreneurial spirit and expand into global markets. In 2021, this trend continued with Elrond, a blockchain platform that surpassed US$ 1 billion in valuation. While there are public strategies aimed at creating 5 unicorns by 2025, it remains to be seen if the country will manage to achieve this ambitious goal in the face of difficult economic conditions.<br>
<br>Much more can be done in terms of public sector involvement in creating a legislative framework conducive to investment. The Romanian startup ecosystem would benefit from governmental focus on building ecosystem strategies and policies, as well as promotion of the startup ecosystem to the world. An increase in entrepreneurial education via secondary schools and entrepreneurship programs would also be welcome.<br>
<br>While there is a gap in pre-seed funding for entrepreneurs, the government has allocated 400M EUR from its National Recovery and Resilience Plan (PNRR) funding for private equity funds. In addition, [FIX Cluj](https://fixcluj.eu/), Romania's biggest incubator program, offers funding of up to 50,000 Euros for young entrepreneurs.<br>
These programs are welcome as Romania struggles more than other EU member states to keep talent in the country. But in order to create a narrative of entrepreneurship around Romania, the public and private sectors need a more unified approach. The country still has to work on the national mindset in order to foster a climate that supports taking risks on an entrepreneurial path rather than outsourcing their services to other countries.<br>
<br>Progress is being made, however: [ROStartup,](https://rostartup.com/about/#what-is-rostartup) a joint public and private action initiative, has set out to create the [RomanianStartup Ecosystem White Paper](https://rostartup.com/2021/11/01/romanian-startup-ecosystem-white-paper/) and tackle the challenges that entrepreneurs face. Encouraging signs are also coming from younger startup ecosystems, such as the one in Oradea, where the tech startups are coming together under the [MakeITOradea](https://www.makeitinoradea.ro/) initiative.<br>
<br>With strong internet connectivity, a healthy number of accelerators and incubators, and a network of entrepreneurs determined to put their ecosystems on the map, we are optimistic that the Romanian startup ecosystem will soon be reaching new milestones.<br>

Explore the Startup Ecosystem of undefined and compare its rankings to thousands of locations across 12 industries

Ecommerce & Retail

Edtech

Energy & Environment

Fintech

Foodtech

Hardware & IoT

Healthtech

Marketing & Sales

Social & Leisure

Software & Data

Transportation

3D Printing

Accounting

Adtech

Aerospace

Agtech

Apps

Artificial Intelligence

Arts

Assisted Living

Automotive

Aviation

Biotechnology

Blockchain

Cannabis

Clean Energy

Cleantech

Cloud

Communities

Comtech

Consumer Electronics

Consumer Goods

Content Marketing

Cryptocurrency

Cybersecurity

Data Analytics

Digital Marketing

Digital Media

Ecommerce

Ecommerce & Retail-Other

Education-Other

Edutainment

Energy

Energy & Environment-Other

Enterprise Technology

Entertainment

Events

Financial Services

Financial Technology

Fintech-Other

Fitness

Food Manufacturing

Food and Beverage

Foodtech-Other

Games

Gaming

Hardware

Hardware & IoT-Other

Health Care

Health-Other

Insurance

Internet of Everything

Investment

Life Sciences

Logistics

Manufacturing

Maritime

Market Research

Marketing & Sales-Other

Marketplaces

Medtech

Mobile Commerce

Nanotechnology

Online Banking

Online Food Ordering

Payments

Personal Finance

Pharmaceuticals

Proptech

Public Transportation

Retail

Ride-Hailing

Robotics

SaaS

Sales

Smart Cities

Smart Home

Social & Leisure-Other

Social Commerce

Social Media

Software

Software and Data-Other

Sports

Sustainability

Transportation-Other

Travel

VR/AR

Virtual Currency

Waste Management

Web Development

Elefant.ro is a Romanian online retailer that provides products for children and adults, for home, wellness, and garden.

Elefant.ro

Ad Design Automation Platform - Creatopy helps businesses customize, automate and scale up their ad production and delivery.



Creatopy

Druid helps organizations plan, develop, and distribute chatbots. Their AI Druid chatbot enables employees, customers, and partners to digitally communicate with a business system.

Druid

Smart Billl resolves everything related to the issuance, delivery and collection of online invoices, notices, proforms, receipts, as well as inventory management, nir, files, receipts, online reports, etc.

Smart Bill

a fully fledged DeepTech SaaS educational platform

BRIO

123ContactForm is a mobile and web form builder. Its WYSIWYG interface helps everybody create forms & surveys without any technical knowledge, as easy as 1-2-3.

With 123ContactForm users can:
-	Give visitors a handy contact interface, collect and store file uploads of up to 10 GB
-	Register attendees to events and book seats
-	Receive payments through order forms (PayPal, Google Checkout, Authorize.Net), give discount coupons
-	Carry online surveys and make in-depth analysis of results.

123ContactForm

SeedBlink is the fastest growing investing platform specialized in sourcing, vetting, financing, and scaling European tech start-ups. The company aims to simplify the investment process by combining crowd reach, business angel flexibility, and Venture Capital expertise. 

SeedBlink

Kinderpedia simplifies communication between kindergartens, teachers and parents, by bringing them on the same platform.

Kinderpedia

Questo allows users discover new places around the world, discovering hidden stories by following clues and solving puzzles created by local storytellers.

Questo

YArooms is a web based booking software package that makes it easy for you to manage rooms and resources and to book a room anywhere, even if it is in a different time zone or location. It prevents double bookings and allows revenue tracking through its Reports feature.

YAROOMS


Global platform designed for accelerated learning, providing access to expert curated knowledge. Focused on lifelong learning and social engagement..

Forward Thinking Platform

One of the leading Hardware and IoT hubs in the world wth high-tech R&D capacity and highly-trained professionals

ProLogium

Pickupp

Tern

KKday

17LIVE

The News Lens

An inspiring ecosystem that is steadily due to its growing use of digital technologies, rapid urbanization and planned investments

Solargen

Wadaag Technologies

Zaad

Waafi App

A growing regional and global startup leader 

Oddle

Flash Coffee

Grain

ONE Championship

Glints

BandLab

A vibrant and strong startup hub attracting international recognition and investment

Autolab

Picap

Instaleap

Addi

Platzi

Frubana

Regus - Bogota, Tierra Firme Santa Barbara

Tierra Firme

Regus - Bogota, Calle 100, Capital Tower

Rappi

Habi

A leading regional startup hub owing its succes to the creative and innovative spirit of its people 