Start-Up Nation program to kick off on June 15

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Start-Up Nation program, through which Romanian Government is supporting the newly established SMEs, will be launched on June 15, Minister for the Business Environment, Commerce and Entrepreneurship, Alexandru Petrescu, says in a press conference on Wednesday.

President Klaus Iohannis promulgated on May 22 the Law on the approval of GEO no. 10/2017 to stimulate the creation of new small and medium-sized enterprises.

The Start-Up Nation Romania program provides up to RON 200.000 non-reimbursable aid to a number of maximum 10.000 Start-Ups annually. The aid is eligible to cover the 100 percent of the costs of the business.

A month ago, Ilan Laufer, state secretary at the Ministry for the Business Environment, said the program’s total budget is RON 1.7 billion, or RON 1.2 billion from the state budget and RON 500 million are European funds.

The program is also dedicated to non-equity entrepreneurs. Following this initiative, over 20,000 jobs could be created each year.

Start-Up Nation will primarily support IT programming, production, creative industries, services and trade activities. The program aims at increasing the number of businesses and revitalizing the economic environment, increasing the number of employees, reducing the number of unemployed and increasing consumption.

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