Over 20 entrepreneurs participated in the factory Bootcamp

From July 1st to 2nd, over 20 entrepreneurs participated in the factory Bootcamp powered by Raiffeisen Bank, a summer school dedicated to those who need support in implementing, developing, or scaling a business. The project combined mentoring with practical exercises to help strengthen the business plans of the participants enrolled in the program.

Selected from over 100 applicants from across the country, the attendees had two days of training and practical sessions with experts in finance, branding, digital marketing, sales, community management, and PR.

“For six years, I have been actively involved in the factory program by Raiffeisen Bank, and it is a joy to witness an entrepreneur’s journey, from presenting their business idea to shaping a successful venture. During the two-day summer school that we organized, together with the participants, we learned that by interacting with each other, asking questions, and sharing valuable experiences, we can find the right answers to face future challenges,” said Bianca Chișulescu, Program Manager, factory by Raiffeisen Bank.

The event, organized with the support of start-up.ro, is part of a series of actions undertaken by Raiffeisen Bank to support early-stage entrepreneurs and promote the factory program by Raiffeisen Bank.

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The factory financing program by Raiffeisen Bank started six years ago with the mission of serving an underserved market, namely early-stage entrepreneurs who struggle to find a viable source of funding for their companies. The program facilitates entrepreneurs’ access to preferential bank loans without requiring a business history, making it unique in the local banking market. Additionally, it can be accessed throughout the year, without a limited enrollment period.

Factory has three pillars of development to cater to both businesses in the idea stage and those in the scaling process:

• Startup Studio by factory: An entrepreneurial education module aimed at aspiring entrepreneurs with a business idea but without a well-defined business plan. They have access to recommendations and receive the tools they need to transform their business ideas into profitable ventures as soon as possible.

• factory funding competition: Identifies and encourages impact-oriented startup companies from various sectors by offering credits of up to 50,000 euros per project for launching a new idea or service in the market.

• factory GROW: Dedicated to companies that have surpassed the startup phase and have ambitious growth plans. It provides a personalized scaling strategy, financial means for implementation (a loan of up to 0.5 million euros), and guidance from the factory GROW team, composed of Raiffeisen Bank specialists and experienced entrepreneurs in the scaling process.

More details about factory by Raiffeisen Bank and how to access the program are available on the dedicated website: https://www.raiffeisenfactory.ro/