Romanian startups: opportunities for innovation in the country
Thanks to its membership in the European Union, Romania offers companies plenty of opportunities to make a name for themselves. And not only in the local market, but also in other European countries. In recent years, the government has stepped up its support for the technology sector, and these initiatives already bear fruit. According to expert Chaslau Koniukh Romanian startups are becoming increasingly competitive on the world stage. A vivid example is the local unicorn UIPath, which has achieved great success outside the country.
Promising Romanian startups
In addition to the designated company, other projects in Romania deserve attention. Bucharest-based startup Bluana Foods, for example, produces plant-based seafood. The company has developed its technology to replace seafish in cooking.
Another promising company is Bonapp.eco. It aims to promote conscious food consumption and reduce food waste. The company provides a platform for interaction between food sellers and their consumers. The idea is to sell expiring products at a discount of up to 80%.
AI startup FlowX is developing a solution for the banking and finance sector. The AI platform will improve processes within the company and for its customers.
OgreAI startup provides services for the B2B sector. Its platform helps with strategic planning in the utilities and energy industries.
Orbotix was one of the first in the country to develop AI solutions. The company’s products are used in various industries to analyse data and in drone manufacturing.
Among the promising Romanian startups, two companies from Cluj-Napoca stand out:
1. OxidOS Automotive is a developer of an operating system based on Rust technology. Its purpose is to certify systems in the automotive industry.
2. Spark Generation is active in education. The company has developed a unique online learning platform for high school students. The platform enables intelligent process automation based on machine learning.
Vatis Tech from Bucharest offers a program that converts audio into text. The startup’s specialists have developed a proprietary API that converts speech and video into text format with more than 95% accuracy.
Romania’s benefits for business
Expert Koniukh says that the surge in the number of startups in Romania in recent years is due to some factors, including:
– favourable location and proximity to the Middle East, the Balkans and Turkey;
– the attention of large hedge funds to local companies;
– government support;
– the availability of a skilled workforce;
– the creation of a modern innovation development ecosystem attractive to investors and entrepreneurs.
In addition, various EU initiatives in the country provide support and funding for promising technology projects. All these factors have helped to create a favourable atmosphere for startups in Romania.
