Financing for students’ business ideas

June 3, 2020

The “Innotech Student” financing line for entrepreneurship among students will be opened between June 15th and August 31st, 2020.

Project’s activities will be realized in three stages:
Stage I (maximum 12 months duration):
1.1. Information campaign;
1.2. Selection of the target group;
1.3. Training – Entrepreneurial skills (ANC accredited);
1.4. Selection of the business plans that will be financed within the project;
1.5. Organizing and carrying out the simulated enterprise activity;
1.6. Carrying out internships (min. 40 hours);
1.7. Counseling / consulting / mentoring;
1.8. Establishment and start of the financed enterprises.
Stage II (12 months duration):
2.1. Reimbursement of grants related to the implementation of business plans;
2.2. Monitoring the functioning and development of the financed businesses.
Stage III (6 months duration):
3.1. Ensuring the sustainability of business plans.

Who are eligible applicants?

  • Authorized public and private traning providers;
  • NGOs;
  • Chambers of commerce and industry;
  • Professional associations;
  • Trade unions and employers’ organizations;
  • Accredited public and private higher education institutions;
  • Doctoral and graduate schools with legal personality, including partnerships between them and the private sector / RDI centers;
  • Accredited research institutes / centers, including research institutes of the Romanian Academy;
  • Romanian Academy;
  • Institutions and member organizations of the Regional Pacts and Local Partnerships for Employment and Social Inclusion;
  • Members of Sectorial Committees and Sectoral Committees with legal personality.

Who can be the target group?

  • Students, bachelor’s or master’s degree (ISCED 5-7) – enrolled, on the date of entry into operation, in the last year of study;
  • PhD students;
  • Postdoctoral researchers;
  • Students (ISCED 4, qualification level 5, enrolled in colleges organized at the level higher education institutions) – enrolled, at the date of entry into operation, in the last year of studies.

Project implementation area:
The target group can reside anywhere in Romania. The target group residing in the more developed region Bucharest-Ilfov must set up their companies in less developed regions (North-East, South-East, South Muntenia, South-West Oltenia, West, North-West and Center).
Project’s activities can take place in any region, including Bucharest-Ilfov, if the above condition is fulfilled.

Target group:

  • Minimum 300 people.

Project’s eligible value is maximum 2.000.000 euros, of which:

  • minimum 65% grant for business establishment (under the incidence of minimis aid) – with a non-reimbursable financing of 100% is calculated by adding:
    • no. of established companies with min. 2 jobs created x max. 40,000 euros
    • no. of established companies with min. 3 jobs created x max. 60,000 euros
    • no. of established companies with min. 4 jobs created x max. 80,000 euros
    • no. of established companies with min. 5 jobs created x max. 100,000 euros
  • maximum 35% grant (for the other expenses of the project) with non-reimbursable financing of:
    • 100% for NGOs;
    • 95% for private beneficiaries;
    • 98% / 85% public institutions.

The number of established companies cannot be less than 14.
Project’s maximum implementation period is 30 months.
For more informations click here.

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