Romania recognized as one of the world's greatest IT outsourcing centers, has recently developed its own startup scene. Currently, on the rise, Romania witnessed a 12x growth in venture capital deals within the past five years. The amount of funding that domestic startups managed to achieve cemented the ecosystem's upward trajectory. To add to that, Romania has an organically created support structure of investors, professionals, enterprises, and local talent, which is fueling the growth of numerous creative enterprises.
In this article, we have compiled a comprehensive list of all incubator and accelerator programs in Romania, along with a short overview to help you find a suitable program. The incubators and accelerators in this list have been subdivided into applicability for startups in their 'ideation' or 'launch' stages.
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FULL LIST OF STARTUP INCUBATORS AND ACCELERATORS IN ROMANIA
Ideation Stage Startup Incubators in Romania
Full list of ideation-stage startup incubators in Romania:
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Game
Carbon is a games incubator / accelerator that provides assistance to independent game creators to create and distribute their games. They offer their services in tiers; providing you with customizable service options depending on the requirements of your team. Each tiered package may include mentorship, working space, and equipment, a range of support services, as well as potential funding of up to USD 50,000. Since they operate on a revenue-sharing model, they do not require any equity. Instead, they require 10-30% of the game's net revenue depending on the selected service tier, with investments being recouped first.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
StepFWD offers a 9-week pre-acceleration program for early-stage startups to get from idea validation to first clients. With the assistance of expert mentors, you'll learn the best practices in starting out your business, how to expand nationally and abroad, and how to navigate the fundraising process with targeted coaching. Aside from the pre-accelerator program, they also offer the Crash Program, which will help startups in getting their first investment by educating them on how investors function and the investment process from people who have participated in many fundraising rounds.
Who is it for: Aspiring entrepreneurs with an idea and seeking cofounder / Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
Impact Hub Bucharest is a non-profit organization that promotes entrepreneurial growth and initiatives in Romania. Within Impact Hub Bucharest, you'll be able to find collaborative workspaces, incubation and acceleration programs, conferences and events, and other opportunities to connect with the wider entrepreneurial community. They provide you with all of the tools you require to grow your business, link you with mentors and experts in areas relevant to your company, and open doors to a world of opportunity through the international Impact Hub network.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Innovation Labs is a mentorship program for aspiring entrepreneurs who wish to develop their innovative technologies into marketable products. There are three paths available: student-driven team, university research spin-off, and senior team. To participate in the program, teams must first undergo a 30-hour hackathon and pitch their prototype to a panel of renowned IT professionals, business gurus, and tech angels. Selected participants will then join a seven-month program, in which they will have the opportunity to fine-tune their ideas and convert them into genuine, functional prototypes through personalized mentoring, access to cutting-edge technology, and connection with leading firms, mentors, and angel investors.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Tech Ventures Romania is a startup incubator that will assist teams in starting, scaling, and building their technology firms by offering workspace, coaching, investment, and relevant events. The program will assist founders in overcoming barriers and progressing to the next milestone by providing mentorship and guidance from seasoned professionals as well as educational sessions to develop skills. Ultimately, the objective of the program is for startups to secure a seed investment or pilot opportunity with enterprises.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology, Multiple Sectors
Launched in 2013, Spherik was Romania's first accelerator which connects startups with the resources and tools they need to grow their firms. Their programs are vertical-focused and customized to the requirements of each startup stage: idea stage, launched stage, and early-growth stage. Through their programs, they have helped teams in building their entrepreneurial skills and mindset (pre-acceleration) and achieve business growth (acceleration) through workshops, mentoring, connections, networking, and visibility events.
Launch Stage Startup Incubators and Accelerators in Romania
Full list of launch stage startup incubators and accelerators in Romania:
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: 5G & Networks of the Future, IoT & Connected Objects, Smart City & Mobility, Security, Fintech, Smart Retail, Media & Entertainment, Health & Lifestyle, People & Future of Work, Digital Education
Orange Fab Romania is a corporate startup accelerator program run by Orange Romania, a subsidiary of Orange Group, one of the world's major telecommunication companies. Orange Fab Romania is a one-year program designed to assist startups in developing their solutions and distributing them worldwide. As part of the program, entrepreneurs may benefit from access to technology and APIs, as well as assistance in testing their products in real-world circumstances and access to the Orange distribution network. Entrepreneurs may also request mentorship meetings with Orange professionals, technical experts, product managers, and experienced entrepreneurial domain leaders on demand.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Mobility, Jobs, Real Estate, Agriculture, Coding, Cities, Money
Early Game Ventures is an early-stage venture capital firm that invests in technology and IP- driven startups. Every year, they host an accelerator program in which 5 to 6 early-stage firms are selected to participate. The program is highly personalized, with each firm working directly with one of the fund's partners and provided with access to various resources, including funding of up to EUR200,000 per startup. The selection is done on a rolling basis, so there are no submission deadlines or cohorts for companies to apply.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
Risky Business Ventures is the first Romanian pre-seed and accelerator fund, founded with the aim to provide early-stage startups with the tools they need to grow into global, sustainable digital companies. They provide support for startups at all stages, from inception to growth and beyond. Their program is focused on what your business requires rather than using a "one-size-fits-all" structure, building exact roadmaps to help your business reach its objectives. Their assistance is concentrated on the five pillars of early-stage company success: product, go-to-market, team, investment, and network. Aside from the general accelerator, they also offer a Student Startup Accelerator for student teams who want to accelerate their business ideas.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Techcelerator is a Romanian early-stage technology business accelerator powered by GapMinder VC, a EUR 45 million fund targeting IT Software and Services startups in Romania and Central Eastern Europe. Through Techcelerator, they engage and collaborate with entrepreneurs from diverse industries using cutting-edge technology in their innovative companies. They have programs for startups at the start, early, to investment stage; providing relevant support for those taking their initial steps toward developing a company, adjusting products for market fit, and all the way up to the level of planning and seeking capital.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
InnovX is one of Europe's top innovation accelerators for tech startups that provides them with entrepreneurial education, funding, and corporate partnership opportunities. InnovX is run in collaboration with BCR, one of Romania's most powerful banks, to cover the program expenses without requiring equity in exchange. Throughout the program, you will have direct access to the most cutting-edge technology, education through edX For Business, and a worldwide community of network partners.
Closing Thoughts on Startup Incubators and Accelerators in Romania
Within the CEE region, Romania is starting to make a name for itself and becoming a significant participant in the startup ecosystem. Though relatively new, Romania's startup sector has the potential to compete with its bigger neighbors. With ample startup support programs being made accessible, the future years might see waves of Romanian entrepreneurs launching even more successful enterprises.