The Romanian entrepreneurs who applied to the 2022 edition of the Startup Nation grant scheme have been waiting, in some cases, for more than a year for the money for the newly established companies, according to Economedia.ro. 

Some had to take out bridging loans to run the business until the amounts were settled, and for which they must pay interest and fees. 

Recently, the government approved a supplement to the budget of the Ministry of Economy from the Reserve Fund to settle RON 100 million (EUR 20 million) owed to the 500 beneficiaries of the Startup Nation scheme - but the amount does not cover the total needs. 

Through the Startup Nation Romania scheme, entrepreneurs setting up a new company can benefit from grants of up to RON 100,000 per beneficiary if they create a single job and 200,000 per beneficiary for two jobs created. 

In 2022, at the third edition of the Startup Nation program, 15,319 micro-enterprises and small and medium-sized companies signed up for Pillar I – dedicated to Romanian entrepreneurs. In Pillar II, dedicated to Romanian citizens returning from the diaspora, 1,648 SMEs registered.

Following the selection and evaluation procedures, a total of 9,120 financing contracts were concluded.

iulian@romania-insider.com

(Photo source: Ungureanu Vadim/Dreamstime.com)