Entrepreneurial education at Raiffeisen Bank in Romania – Startup Studio by Factory launches registrations for the second edition.
The partner with whom Raiffeisen Bank will implement the educational module is Impact Hub Bucharest.
One hundred forty-four entrepreneurs participated in the first edition of Startup Studio by Factory and benefited from over 300 hours of mentoring with over 50 mentors.
Bucharest, May 2, 2022: In its second edition, the Startup Studio by Factory entrepreneurship education program returns this year with news to support entrepreneurs at the beginning of the road to launch innovative products and services. The most creative business ideas are debated with mentors and business specialists to go on the road with greater chances of success in attracting funding, customers, and investors.
Benefits and opportunities in Startup Studio by Factory
Startup Studio by Factory is the bank’s response to the need for knowledge and mentoring of Romanian entrepreneurs, providing them with free access to an integrated course structure that includes theoretical and practical sessions on Design Thinking and Business Model Generation, workshops, and training sessions mentored with experts in the field. At the end of the program, entrepreneurs with the best business ideas can obtain factory by Raiffeisen Bank financing, a loan of up to EUR 50,000 to implement their business plan.
“This year, we want to offer the participants from Startup Studio by Factory a complete experience, which will prepare them for the journey they will start in entrepreneurship. All three modules have been specially designed to enable participants to learn the skills needed to build a sound business plan and correctly identify their business’s best development opportunities. We are happy to have the Impact Hub Bucharest team with us and support the entrepreneurs with potential and innovative ideas,” – said Raluca Nicolescu, Director of SME Raiffeisen Bank.
The program‘s design is especially outlined for entrepreneurs at the beginning of the road.
The duration of the entrepreneurial education program is three weeks, and the participants will be able to accumulate information as follows:
- In the Design Thinking module, participants will discover with facilitators and experienced entrepreneurs how to apply the Design Thinking methodology to develop their idea and ensure that it responds to a real problem for a well-defined segment of customers.
- In the Business Modeling module, entrepreneurs have access to a strategic planning tool – Business Model Canvas, which helps them structure their business proposal and address the main elements needed to launch their idea in the market.
- In addition, the training will be complemented by a presentation practice session, where entrepreneurs will have the opportunity to improve how they support their business ideas. Thus, participants will receive feedback from Raiffeisen Bank and Impact Hub Bucharest experts during practical group sessions. This experience will increase their chances of obtaining factory financing of EUR 50,000. In addition, those who access factory loans and need additional capital for their business will have the opportunity to present their idea to a group of investors.
How can entrepreneurs enroll in the program?
Registrations are open until May 20 at www.raiffeisenfactory.ro/startup-studio. In the application form, entrepreneurs will be able to choose which of the two sessions of the mode will participate: in May – June or in October – November 2022. Also, all those who already have a business idea and want to apply only for financing can be enrolled in the factory by the Raiffeisen Bank lending program throughout the year. More details about the benefits of the program are available on www.raiffeisenfactory.ro.
“To become sustainable and have all the resources to scale at the right time, startup businesses need clarity and support. That is why we thought of an educational experience based on our interaction with thousands of Romanian entrepreneurs in the Impact Hub Bucharest programs – with a strong focus on the practice, testing, and refining of the most important components of the business,” – transmitted Vlad Craioveanu, Managing Partner Impact Hub Bucharest.
The industries with the most business ideas in the first edition of Startup Studio by Factory were services (23%), IT&C (17%), production (13%), and education (12%); followed by the health industries (10%), agriculture (8%) and construction (5%).
At the same time, sustainability was an element of interest for the participants – 8% of the business ideas in the educational component proposed environmentally friendly solutions by capitalizing on the surplus of food or agricultural waste or by encouraging urban mobility.
Our previous news about Factory by Raiffeisen Bank in Romania can be found below:
Source: the Bank’s press release dated May 02, 2022