Bucharest, March 21, 2022 – 5 years after its launch, Factory by Raiffeisen Bank in Romania introduces new support implements for entrepreneurs in the program, in line with trends in the European and global market. This year, in addition to funding the entrepreneurship education workshops at Startup Studio by Factory, the ideas factory is expanding and will facilitate entrepreneurs’ access to two new initiatives dedicated to scaling up business and radical innovation.
In the first four editions, almost 5,000 entrepreneurs joined the factory by Raiffeisen Bank, more than 860 business ideas were included in the program and 240 startups were financed with loans totaling EUR 9.6 million. More details about the program can be found on www.raiffeisenfactory.ro.
“The entrepreneurial ecosystem and especially the innovation ecosystem in Romania, need a substantial infusion of programs and incentives, to accompany start-ups and SMEs in their journey, especially in these completely exceptional and unpredictable times. We continue to pay constant attention to the needs of SMEs and, based on the feedback received, come up with initiatives designed to give them access to finance, but also opportunities for development and promotion appropriate to their business. Entrepreneurship education continues to be a real need, and this year we will have the second edition of the Startup Studio by Factory program for startups with sustainable businesses, but we also bring two new modules – business scaling and radical innovation. Thus, from 2018 we are with the Romanian entrepreneurs with an increasingly complex factory program, which offers them a wide range of opportunities – from financing to business education, to scaling and radical innovation” – said Vladimir Kalinov, vice president of retail at Raiffeisen Bank.
Entrepreneurs can register their business idea on www.raiffeisenfactory.ro until the end of the year, to access a loan, repayable, of up to EUR 50,000 and can benefit, in addition, from guidance for enrolling in the program, constructive feedback, and validation from bank specialists and experienced entrepreneurs, facilitating access for winners to mentoring opportunities with business experts, but also to customers and potential investors, business promotion and other non-financial benefits.
Through the factory, Raiffeisen Bank has built and consolidated over time an ecosystem of opportunities for entrepreneurs at the beginning of the road. Factory by Raiffeisen Bank will offer a complete set of tools to act in vital points of the evolution of the companies, available gradually throughout the year.
Our previous news about Factory by Raiffeisen Bank in Romania can be found below:
Raiffeisen Bank in Romania launched the second edition of Factory by RAIFFEISEN BANK
Raiffeisen Bank allocates 5 million euros to finance startups in Romania
Source: Bank`s press release from March 21, 2022