This year, Raiffeisen Bank in Romania launched entrepreneurial education program, called Startup Studio by Factory, to help entrepreneurs develop their ideas and build a solid business plan, along with IBM-accredited mentors and business consultants.
319 entrepreneurs signed up for Startup Studio by Factory, and 144 participated in the program.
At the end of this year’s edition, 27 of the entrepreneurs participating in the Startup Studio entrepreneurship education workshops applied for a “Factory by Raiffeisen bank” loan.
Startup Studio by Factory, the laboratory for accelerating business ideas, is Raiffeisen Bank’s answer to the mentoring and expertise needs of entrepreneurs taking their first steps in the business world. In addition to know-how and guidance from accredited specialists, they can validate their business ideas and identify opportunities for their business. Participants benefited from 300 hours of mentoring with over 50 mentors and business professionals. The entrepreneurs had a 6-week program, based on the Design Thinking methodology, and in the end, they were able to develop a solid business plan, aligned with the principles of ethics and sustainability.
Entrepreneurship education program covered the following industries this year: services (23%), IT&C (17%), production (13%), and education (12%). These were followed by health (10%), agriculture (8%), and construction (5%).
At the same time, in the first edition of Startup Studio by Factory, sustainability was an element of interest for the participants. Half of them develop environmentally-friendly solutions, from platforms that move the digital business to sustainable businesses that reduce the impact on the environment, reduce food waste, capitalize on agricultural waste or encourage urban mobility through environmentally friendly transport.
“Startup Studio by Factory is a program that we created especially for entrepreneurs at the beginning of the road. We want to offer them not only the necessary financial resources but also help supported by know-how, which will ensure a better understanding of the business environment. The first edition of the program showed us that innovative ideas are much closer to success if they have the necessary acceleration tools” said Vladimir Kalinov, Vice President of Retail at Raiffeisen Bank.
The entrepreneurship education program, Startup Studio by Factory is a component of the “Factory by Raiffeisn Bank” financing program. In the Factory, entrepreneurs who already have an outlined business idea or a business, operating maximum 5 years, can apply for a loan of up to 50,000 euros to take their business to the next level. Registrations in the financing program can be made until the end of the year.
More details about the factory can be found on www.raiffeisenfactory.ro.
Source: Bank’s press release from December 13, 2021
