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IT&C

Market size

The IT&C sector in Romania is considered as a primary growth driver with a year-on-year growth of 9% and forecasts that by 2020 it will be worth EUR 4 billion.

Global software companies such as Oracle, Amazon, IBM or Deutsche Bank already leverage the development potential of Romanian software developers at a fraction of the cost compared to Western Europe, while maintaining the product quality. They have also contributed to the initial development of the tech start-up environment that is developing today.

PDFPPTIT&C – BPOs in Romania
PDFPPTHigh tech startups in Romania

Human Capital

The available number of engineers per capita is higher than the US, India, China or Russia.
There are 7,000 IT&C grads in Romania every year, adding to a total of 90,000 with forecasts estimating that by 2018 the 100,000 mark will be exceeded.

Employers activating in the IT&C sector benefit from exemption of the income tax and certain state aid schemes aimed at encouraging employment of young graduates

Romanian software developer map (no. of graduates/ year)

Source: Brainspotting

2000
Mostly specialized developers,
rare mix of technologies
1700
Largest pool of full stack developers;
Java, C#, .NET, PHP, Web
1100
Java, .NET, C/C++
(embedded developers)
1100
Large pool of front-end and web developers,
telecom engineers
500
Pool for C++ and
helpdesk engineers
500
Pool for cloud and
virtualization experts
230
Automotive software and
gaming engineers pool
Cluj Timisoara Craiova Bucharest Brasov Iasi Sibiu

Bucharest

is the largest start-up hub in the country with over 132 starups and the home of many tech companies and VC firms as well as universities focused on technology, engineering and software development.

Cluj (35), Timisoara (16) and Iasi (7) are catching up, attracting companies like Amazon and investors from the UK, Germany and the US.

FDI and Financing

Venture capital

is finding its way into the country, with more and more investors reaching out through accelerators and events.

While 2014 has seen a bounce in VC financing due to increased number of opportunities, 2015 financing is likely larger, only Vector Watch raising EUR 5 million in November.

2016 is off to a great start: financing totalling EUR 1.1 million has been announced year to date, as well as an acquisition.

Tech events and accelerators

are an important element in attracting VC funding. These help the start-up community not only with funding but with mentoring and guidance.

Accelerators

     

Tech events

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