Between July 1-2, more than 20 entrepreneurs participated in the Factory Bootcamp powered by Raiffeisen Bank in Romania, a summer school dedicated to those who need support to implement, develop or scale a business.
The project combined the mentoring part with practical exercises to help strengthen the business plans of the participants enrolled in the program.
Chosen from over 100 registrants from Romania, those present had two days of training and practical sessions with specialists in financing, branding, digital marketing, sales, community management, and PR.
“I have been actively involved in this program for six years, and it is a joy to watch the journey of an entrepreneur, from the moment he/she presents his/her business idea to the creation of a successful business. During the two days of the summer school that I organized, I learned, together with those enrolled in the program, that by interacting with each other, asking questions, and sharing valuable experiences, we can find the right answers to face the next challenges,” – Bianca Chișulescu, Program Manager Factory by Raiffeisen Bank Romania.
The Factory financing program started six years ago, with the mission of serving an unserved market, that of entrepreneurs at the beginning of the road who find it difficult to find a viable source of financing for their businesses. The program facilitates the access of entrepreneurs to a Bank loan granted under preferential conditions, without conditioning the financing on the existence of a history of activity, being unique in the local banking market. In addition, it can be accessed throughout the year, with no enrollment deadline.
Factory has three pillars of development, through which to respond both to businesses in the idea stage and to those in the process of scaling:
• Startup Studio by Factory – the entrepreneurial education module addressed to those who aspire to become entrepreneurs, with a business idea, but without a well-defined business plan. They have access to referrals and receive the tools they need to turn their business ideas into profitable businesses as soon as possible.
• The Factory funding contest – identifies and encourages impact-oriented startups from various sectors, offering loans of up to EUR 50,000 per project to launch a new idea or service on the market.
• Factory GROW – dedicated to businesses that have passed the startup phase and have an ambitious growth plan. It offers a customized scaling strategy, financial means for its implementation (a loan of up to EUR 0.5 million), and guidance from the Factory GROW team, consisting of Raiffeisen Bank specialists and entrepreneurs with experience in the scaling process.
More details about Factory by Raiffeisen Bank Romania and how to access the program are available here (in Romanian).
Source: the Bank`s press release dated July 06, 2023
