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TABLE OF CONTENTS
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According to the Financial Times, Romania — one of Europe’s fastest-growing economies, has become a popular tech destination. Quartz adds that it could very well be EU’s next tech-startup hub while TechCrunch called it the Silicon Valley of Transylvania.
Surprised? You shouldn’t be.
“The country is building on its communist legacy of excellence in science, mathematics, and technical education. The focus is shifting from outsourcing to using its competitive advantages including its domestic market of 20 million to develop homegrown innovative companies.” Andrew MacDowall, FT.
Additionally, my hope with this document is to create a better positioning of the Romanian startup scene, more transparency within the ecosystem while highlighting the current state and showcasing comparisons between different markets. Consider it a 10-minute crash course on the local tech scene.
The Romanian tech ecosystem is growing. Our analysis shows that in Romania, 20 startups raised €11.3m in total in 2016. Comparatively, 15 deals with a value of €10.7m were concluded in 2015. To put it in perspective, European startups raised €16.2b …