BR Awards 2014 – The Nominees: Best Financing Program for SMEs and Start-Ups

Judging criteria: amount of financial commitment and lending terms; innovative character of the financial product.

EBRD for Romania SME Sustainable Energy Financing Facility (RoSEFF)

The objective of this financing facility was to assist micro-enterprises and SMEs through dedicated debt facilities to banks, micro-finance institutions and leasing companies. Launched by EBRD in September 2011, it amounted to a total of EUR 60 million. The RoSEFF framework combines EBRD financing with EU-funded technical assistance and investment incentives for SMEs undertaking energy efficiency and small-scale renewable energy projects.

In 2013, the EBRD signed an EUR 80 million loan with BCR and committed EUR 5 million to BT Leasing Transilvania for SME financing. In addition, it signed a EUR 10 million financing deal with UniCredit Tiriac Bank to support investments in energy efficiency and small-scale renewable energy projects undertaken by SMEs.

Banca Transilvania for Contul Primul An Gratuit

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The bank looked to improve access to loans for SMEs and launched a new product bundle called Contul Primul An Gratuit. With a financial commitment of RON 5.61 billion in new loans for SMEs, the bank granted in excess of 18,500 new loans to SMEs in 2013. Out of the start-up companies established in Romania, 31 percent signed up for Contul Primul An Gratuit, meaning 18,496 new clients.

How-to-Web for the How-to-Web event aimed at strengthening and empowering regional tech

The How-to-Web tech conference includes the Startup Spotlight program and competition, showcasing some of the most innovative startups in Central and Eastern Europe, along with world-class accelerators, investors and support programs. The 2013 competition provided startups with mentoring and training opportunities, encounters with potential investors (business angels, accelerators, VC funds) who are specifically interested in early-stage startups and cash prizes of USD 20,000. The conference grew to 800 participants in 2013, including almost 20 accelerators from all over Europe and 32 selected startups chosen from many more applications

OMV Petrom Romania for Fabricat in Tara lui Andrei program

The program aimed to develop the skills that Romanian entrepreneurs need in order to start social businesses, to create jobs and generate income by capitalizing on local assets (needs, opportunities and resources). Over 500 social business ideas were entered for the competition, and 20 finalists benefited from capacity building (financing to test their social business ideas and consultancy to develop them into business plans). The most sustainable ten were selected by a jury and will be receiving business incubation support during their first years of business.

Venture Connect for the Venture Connect platform

In 2013, Venture Connect continued to develop as a networking and learning platform for the entrepreneurial and investment community. Two new seed investments were achieved through the continuous efforts of the foundation and its partners, with more than 230 startups and entrepreneurs going through the selection pipeline. Startups pitching at Venture Connect came from Bulgaria, Macedonia, Hungary and Poland, as well as Romania. The investment community was represented by VC funds from Germany, Turkey and Switzerland, as well as business angels and accelerators from Bulgaria and Poland. One other key strength for the internationalization of the project was the close collaboration with Black Sea Trade & Investment Program, an international foundation that supported our initiative and connected the entrepreneurial community with international investors.

Patria Credit for the financial products for SMEs launched in 2013

Patria Credit last year took out a EUR 7 million loan from the Black Sea Trade and Development Bank (BSTDB) to finance, micro and small enterprises across Romania. The non-banking finance institution granted 5,000 new loans worth EUR 66 million in 2013. In March 2013, it launched a factoring solution for MSMS with annual turnover of under EUR 2 million. The main customers for this product were SMEs affected by cash flow problems, and EUR 850,000 went into 144 revolving applications.