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.
Romanian software developer map (no. of graduates/ year)
rare mix of technologies
Java, C#, .NET, PHP, Web
gaming engineers pool
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.
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.
are an important element in attracting VC funding. These help the start-up community not only with funding but with mentoring and guidance.