Updated data analysis on the status of the StartUp Nation 2024 program highlights a low occupancy rate of available spots, which raises questions about the efficiency of the current implementation mechanism, IMM Romania informed us.
According to the consolidated data, over 31,000 places are available for Pillar I of the program, but the number of registered individuals is significantly lower, resulting in approximately 11,800 unoccupied places. At the same time, we must also consider that out of the total number of registered individuals, a portion are declared ineligible (an estimate of 20%), thus increasing the number of unoccupied places to approximately 15,000-16,000.
The situation is even more pronounced in the case of specific target groups, where the level of participation is well below expectations, indicating the need to adapt support tools to on-the-ground realities.
To date, approximately 3,000 funding applications have been registered for Pillar I, with the maximum number of startups that can be supported being 5,250.
The slow pace of implementation, with the program launched in 2024 without essential stages completed to date (training, submission of funding applications, selection of winners, and signing of funding contracts), generates additional risks, including the decommitment of European funds and a decrease in interest from potential beneficiaries.
In this context, IMM Romania proposes a strategic recalibration of the program dedicated to young entrepreneurs, by:
• Launching a new emergency call for projects for young entrepreneurs, using funds remaining available within the PEO 2021-2027 due to the non-fulfillment of indicators through the StartUp Nation 2024 program.;
• implementation of the program through grant administrators to increase the efficiency and quality of the selection process;
• use of an integrated support model, which includes entrepreneurial training, mentoring, funding, and monitoring during and post-implementation
• streamlining procedures and adapting eligibility and selection criteria to the real needs of the entrepreneurial environment.