Start UP Smart! – One of the biggest entrepreneurial projects in Galati region

Start Up Smart! is the latest project aimed at developing the entrepreneurial abilities of young people, which is expected to generate a major impact in the business environment from the South – East and the South – Muntenia regions. Through a partnership made by SMART Development Center, the Young Entrepreneurs Association from the South – East Region of Romania and Structural Consulting Group, 400 people will have the chance to establish start-up businesses. The project was conceived having the needs of the Romanian young entrepreneur in mind: access to funding and information.

Here are the advantages and the milestones of this project:

First, we organize 20 training courses in entrepreneurship, selecting 400 participants. We are going to select 200 from the South – East region of Romania and the other 200 from the South – Muntenia region. The applicants have to fill in the application form available on the website of the project, www.startupsmart.ro. Besides acquiring the new skills, the participants will receive a prize of 2500 lei each. This prize will help them cover part of the VAT when submitting business plans under the framework of START, SRL-D and the Female Manager programs run by the Ministry of Economy. The VAT valued at 24% of the total cost of the project, is not eligible for funding.

After finishing the courses in May, we are organizing a business plan contest. We will be selecting 42 business ideas that will receive seed funding of about EUR 20,000 each. The subsidy can be used to cover equipment, supplies, salaries, rent, utilities and promotion costs. We are also aiming to select at least 2 business ideas per every county and at least 50% of the subsidies will go to student start-ups.

Also, we are establishing a business incubator in Galati, where the participants at courses and the winners of the business ideas contest will receive counseling, mentorship services, access to networking events and resources to grow their businesses. All the important news about the project can be found at www.startupsmart.ro.