NN Romania launches scholarship fund for future entrepreneurs

NN, the leader of the life insurance and private pensions markets, launches the first scholarship fund for the next generation of entrepreneurs in Romania and supports entrepreneurial education in a strategic partnership with EA – The Entrepreneurship Academy, the only entrepreneurship university in the country. The scholarship fund creates more chances for students who dream to open their own business during university but have limited financial means, to develop entrepreneurial knowledge and skills in the applied program at EA – The Entrepreneurship Academy.

NN is funding students who wish to enroll at EA – The Entrepreneurship Academy this year with scholarships of 200,000 euro, contributing to the tuition fees needed throughout the four years of study, and additional scholarships worth 50,000 euro are offered by the university. Moving forward, NN aims to support the development of the entrepreneurial ecosystem in Romania and facilitate access to practical business education for more students with limited opportunities. Starting this autumn, the scholarship fund will be open for donations from individuals or companies who wish to contribute to the education of future generations of EA – The Entrepreneurship Academy students.

“Romania is a hub of creativity and innovation with many successful entrepreneurial stories and many talented young people who dream of their own business from an early age. We know entrepreneurs are an engine in the economy and we see that Romania grows with them, which strengthens our belief that applied business education and the ecosystem of resources, know-how, and entrepreneurial communities need to become accessible to any future entrepreneur, regardless of their financial means. The scholarship gives more students the chance to start their own business and contributes, this way, to the economic development of Romania”, says Gabriela Lupas–Ticu, Chief Marketing & Operations Officer at NN Romania.

The NN scholarships address students with limited financial means who wish to pursue applied business studies at the university starting this year. Students can apply until 13 July 2023, participate in the admission process, and find out on the same day if they are admitted and qualify for the scholarship, considering the family’s financial resources over the past two and a half years and the number of family members.

“For many young people, entrepreneurship has become a career plan, but not everyone has the opportunity to start their entrepreneurial journey during university studies. Through the strategic partnership with NN, we open the path to entrepreneurship for students with limited financial means, providing them with access to the education they need as future entrepreneurs. During their studies, students develop practical entrepreneurial knowledge, applied to the current business context, as well as skills for the future. At the same time, they start working on their own business, with access to a mentorship ecosystem and international experiences, and the results are seen in the success stories of the generations of students who became entrepreneurs”, explains Alexandru Ghita, CEO of EA – The Entrepreneurship Academy.

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Over 60% of EA – The Entrepreneurship Academy students and graduates already have their own businesses, with the most well-known businesses being Flip.ro, The Outfit, Glow2Go, Fustite cu Luminite, Confidas, or Difrnt. These young entrepreneurs generated a total of 1.5 million euro in sales in 2022 from businesses incubated within the faculty.

“EA – The Entrepreneurship Academy played a key role in my training and education as an entrepreneur. It is an environment with a rare mix of elements, which I haven’t found in other universities in the country: you have access to entrepreneurs and top specialists who teach you from their own experience, learning trips to different countries to study local business environments and meeting international entrepreneurs, you are encouraged to work in a team and, last but not least, to start your own company. I felt that at the end of the years of study, I left with 3 valuable things: solid general business knowledge, well-developed communication and leadership skills and a network of people together with I can build further”, says George Moroianu, co-founder Flip.ro and former university student.

Among EA – The Entrepreneurship Academy graduates so far are also students who benefited from financial supports to follow their dream, through scholarship programs developed by the university or through partnerships.

“The scholarship supported me in going to the university I wanted, following my passion, and becoming the person I am today. I started earning my first money from entrepreneurship at 16, and when you build a company from scratch and go through all its stages, you need all the help you can get to create something valuable. The scholarship was exactly what I needed at the beginning of the journey through EA – The Entrepreneurship Academy and a head start in my entrepreneurial life,” says Horia Stupu, co-founder of The Outfit and Difrnt and former scholarship beneficiary.

EA – The Entrepreneurship Academy operates based on a partnership with Team Academy Amsterdam/Stichting School vision, following an educational model that has existed for over 20 years in Finland and has been successfully implemented in over 18 countries. The faculty is internationally accredited by Team Academy Netherlands, along with the School vision Institute, through the Ministry of Education, Culture, and Science of theNetherlands. 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.