Diaspora ReSTART to finance 60 startups by Romanians living abroad with EUR 40,000

Romanians living abroad are increasingly interested in doing entrepreneurial activities in Romania, actively seeking new ways to put their business ideas into practice. Thus, 149 people have entered the race for financing in the Diaspora ReSTART project, and after having completed entrepreneurial training courses, they prepared and submitted their business plans, and 60 of them will benefit from a grant of up to EUR 40,000.

The analysis of the 60 winning business plans reveals the following:

1. Most of the applicants are from the United Kingdom (33.3 percent) and Spain (28.3 percent), followed by Italy (11.67 percent), France (6.67 percent), and the Netherlands (5 percent).

2. Most of the businesses will be set up in the following areas:

  • Web portal activities (10 percent)
  • Maintenance and repair of motor vehicles (8.33 percent);
  • Restaurants (8.33 percent);
  • Engineering activities and technical consultancy related to them (8.33 percent);
  • Custom software development activities (5 percent).

3. As for gender breakdown, 68.33 percent of the firms will be led by men and 31.67 percent by women.

Regional segmentation of companies

Regional segmentation reveals that of the 60 new firms, 26.67 percent will be set up in the North-East and Central regions (21.67 percent) and another 15 percent in the North-West region.

“ReSTART Diaspora is the most difficult and the most beautiful project I have implemented so far. I have had the privilege of interacting directly with over 400 Romanians who have gone abroad to change their life stories and giving them the opportunity to return and create added value in their native lands. Because we are talking about a contest, only 60 of them will receive the EUR 40,000 grant, but I want to reiterate the CNIPMMR’s firm commitment to provide support to all those who want to start on the challenging but also rewarding road of entrepreneurship. Last but not least, I want to thank all the people directly involved in implementing the project for their sustained effort exclusively aimed at achieving the overall objective of this project, namely to facilitate the return of Romanians at home”, said Oana Bara, CNIPMMR Project Manager.

Furthermore, the 60 new companies will participate in a 3-month mentoring session where they will strengthen their business by providing information on a marketing strategy, identifying a customer network, stabilizing the relationship with suppliers and customers, maintaining relations with state institutions in order to report the activity according to the legislation, or establishing and following a short, medium and long term development strategy.

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