NN Romania and EA - The Entrepreneurship Academy develop the first scholarship fund for future entrepreneurs

The first scholarship fund for future entrepreneurs created this year by NN Romania, leader of the life insurance and private pensions market, and EA – The Entrepreneurship Academy, to support students with limited financial means to pursue applied business studies is growing with the support of the business community and society. The fund started with scholarships of over 200,000 euro from NN, and now any company can invest in the education of the future generation of entrepreneurs by redirecting their income tax or profit tax and any person can support by redirecting their income tax or through personal contributions to the scholarship fund.

The business university EA – The Entrepreneurship Academy provides access to applied business education and to an ecosystem of resources and entrepreneurial communities to students aspiring to become entrepreneurs, supporting them to start their own businesses during university. Currently, 48% of the university’s graduates already have their own businesses, with almost 70% of them starting during their studies, before the age of 23, some of the most well-known being Flip.ro, The Outfit, Glow2Go, Fustite cu Luminite, Confidas, and Difrnt. The graduates’ businesses currently have 426 employees and generated a combined revenue of nearly 50 million euro in 2022, 8 out of 10 being profitable.

“The scholarship fund for future entrepreneurs finances the education of students who dream of starting their own business while still in university, but have limited financial means, and facilitates their access to the practical entrepreneurial knowledge and skills they need to succeed. Romania will grow with the future generations of entrepreneurs, and this is why strengthening the local entrepreneurial ecosystem as an engine of economic growth must be a joint effort in society. The fund already supports first year students at EA – The Entrepreneurship Academy and will further expand with the contribution of companies and society as a whole”, explains Gabriela Lupas-Ticu, Chief Marketing & Operations Officer at NN Romania.

Investments in the education of future entrepreneurs can be easily made on www.nn.ro/doneaza-burse-ea. Companies can redirect 20% of their annual income or profit tax, while individuals can redirect 3.5% of their annual income tax or can support through unique or recurring personal contributions. The amounts in the scholarship fund will be allocated to students applying at EA – The Entrepreneurship Academy, contributing to their tuition fees during the four years of study.

“Our mission is to have impact through revolutionary education, promoting an entrepreneurial mindset and relevant business knowledge students need to create and lead significant companies, projects, or public institutions aiming at ethical and sustainable performance. During their college years, students acquire practical skills and begin working on their own businesses. Through our unique methodology in Romania and through the learning lines tailored to the current business environment, students take an entrepreneurial role during their studies and, with the support of the mentorship ecosystem and international experiences, take their first steps in the business world“, says Alexandru Ghiță, CEO of EA – The Entrepreneurship Academy.

Some of the students who started their first year of studies at the entrepreneurship university have already received support through NN Romania’s initial contribution of 200,000 euro to the scholarship fund. The academic year started with the first international learning journey, and over the course of four years, students will accumulate nearly five months of learning experiences in Europe, the USA, and Asia. At the same time, they will directly interact with 100 companies in Romania and at least 20 companies abroad, and they will embark on their entrepreneurial journey having an existing network of entrepreneurs and business professionals recognized locally, regionally, or internationally.

EA – The Entrepreneurship Academy operates based on a partnership with Team Academy Amsterdam/Stichting Schoolvision, following an educational model that has existed for over 30 years in Finland and has been successfully implemented in over 18 countries. The university is internationally accredited by Team Academy Netherlands, along with the Schoolvision Institute, through the Ministry of Education, Culture, and Science in the Netherlands. The diploma that students obtain at the end of the four years of study, by acquiring 240 ECTS credits, is a Bachelor’s Degree – Business Administration in Entrepreneurship and can be recognized in Romania by CNRED, according to the Ministry of Education.