The biggest Romanian online retailer, eMAG, has launched an acceleration program for tech startups.

With this program, called eMAG Ventures, the group aims to use the expertise gained during the development and expansion of various projects, such as eMAG Marketplace, and companies that have grown rapidly, such as Sameday (courier), Conversion (digital marketing), Fashion Days (fashion marketplace), Tazz by eMAG (delivery) or Zitec (online applications producer).

eMAG Ventures will focus on technology companies that bring innovations in products and services directly or indirectly to end customers. In addition to financing, eMAG will provide selected companies with the know-how gained in over 19 years of activity in the most dynamic tech sector of the moment, stimulating the digital economy.

The eMAG Ventures program started this December, while the first investments are expected for the first half of 2021.

"In Romania's entrepreneurial environment, there are many technology projects with great potential, which can be developed with financing and know-how. Through eMAG Ventures, we want to create real added value and contribute to a rapid scaling of businesses, thus producing a visible impact in the digital economy. We are talking about accelerating investments in those companies that can grow rapidly with the help of technology to become the future unicorns. We want to finance companies with ambition and vision, which will contribute to the growth of the entrepreneurial ecosystem in Romania," said Bogdan Axinia, Managing Director of eMAG Ventures. 

andrei@romania-insider.com

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