BUSINESS COMPANIES ECONOMY FINANCE&BANKING INVESTMENTS

Start-Up Nation programme gets activated

The Start-Up Nation programme got activated Thursday at 10:00hrs, on a budget of 1.7 billion lei from national and European funds to be disbursed in amounts capped at 200,000 lei per applicant.

Applicants will submit their business plans on line starting June 15 against a 30-day submission deadline.

The main objectives of the project is boosting the creation of new small and medium-sized businesses and improving business perfomance of starts-ups and facilitating their access to funding. As many as 10,000 start-ups are expected to be funded this year under the Start Up programme that will create 10,000 new jobs.

Minister for the Business Milieu, Commerce and Entrepreneurship Alexandru Petrescu said last week that more than 2,500 tests of the Start-Up Nation electronic version had been conducted at the weekend that is virtually one quarter of the total maximum number of eligible beneficiaries.

State secretary with the same ministry Ilan Laufer (photo) said earlier this June that the first requirement in order to qualify for the benefits under the new programme is having started up a business after January 1, 2017. The second requirement is creating at least one job that the entrepreneur should preserve for two years.

“The programme is exclusively designed for entrepreneurs that do not have their own capital. Although I am not encouraging not having your own capital, there are still many young people, men and women alike, that pin their hopes on the Start-Up Nation programme, but some of them do not have their own capital, whereas this programme provides hundred-percent non-reimbursable funding. That is not to say that if you have a business plan for more than 200,000 lei you cannot come up with your own business plans,” said Laufer.

 

Three hours after Start-Up Nation program’s activation: 1,716 active users, 246 applications submitted

 

Three hours after the official activation of the Start-Up Nation program there were 1,716 active applicants of whom 246 had finalized and sent their business plans on the online platform, Minister for Business, Commerce and Entrepreneurship Alexandru Petrescu wrote on his Facebook page.

“Start-Up Nation status, 13:00 hrs – 1,716 active applicants, of whom 246 have completed and submitted their business plans,” Petrescu wrote.

The Start-Up Nation program was activated on June 15 at 10:00 hrs, having an allocation of 1.7 billion lei from national budget sources and European funds; the maximum amount for one beneficiary is 200,000 lei.

Program enrollment is publicly open for 30 days starting June 15, 2017.

The main goal of the program is to stimulate the establishment of new small and medium-sized enterprises, to improve the start-ups’ economic performance and to facilitate their access to financing. This year, Start-Up Nation plans to fund 10,000 new businesses that will create at least 10,000 new jobs.

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