Meeting with Startups in Romania
© INInnovation Norway organises the event: Meet Innovative Startups/Scaleups from Central/Southern Europe at Oslo Innovation Week. The event gathers around 100 companies from 10 countries in Central Europe, including the startups from Romania, as well as Norwegian partners, startups, scaleup professionals, researchers, investors and other stakeholders. There will be pitches and matchmaking.
Interesting in joining the event? Sign up via the link above to see the profiles of participants.
To give you an idea of what to expect, we recap the meetings between Innovation Norway’s CEO and three startups in Romania.
I really like the disruptive element of what you do
Startups hold immense potential for disruptive innovation and economic growth. In Romania, the EEA and Norway Grants have supported 33 startups to foster an entrepreneurial ecosystem, increase cooperation and boost innovation that benefits industries and society at large. The programme is operated by Innovation Norway, and the startups were selected among 80 applicants through a process that assessed their idea, its impact and pitching to experts.
Quick Legal
Quick Legal has emerged as a significant player in the legal landscape of Romania. The platform serves as a bridge between clients seeking legal advice and a diverse pool of over 120 lawyers. This initiative addresses the pressing need for accessible and affordable legal services, a challenge that many individuals and businesses face. The platform's user-friendly interface facilitates seamless interactions, allowing clients to compare fee proposals and engage in a complimentary 15-minute consultation with their chosen legal expert. Furthermore, Quick Legal is on the brink of introducing an AI-powered "robo-lawyer," a development that is poised to further streamline processes and reduce costs, all while upholding the highest standards of expertise.
One notable aspect of Quick Legal's identity is its leadership, which is proudly women-led. This brings a distinct perspective to the platform's development and services. Additionally, the founders' exposure to advanced legal tech markets in the United States, facilitated by the Grant, has enriched their insights. Overall, Quick Legal's innovative approach and commitment to accessibility are reshaping legal services in Romania.
You can read an interview with Quick Legal here: Access to Affordable Legal Advice in Romania through the EEA and Norway Grants.
Enterteq
Enterteq Software is a digital green company. The company designed GUES Platform, the best-in-class reporting model for the EU Taxonomy, inclduing Scope 1, 2 & 3. GUES benefits. With a grant of 120,000 euro through the EEA Grants, the project provides a powerful carbon emission accounting tool, for the reporting and management of carbon emissions in Scope 1, 2 and 3 (throughout the complete value chain).
The methods used cover the entire spectrum of theoretical and practical lines. It is an innovative strategic management (related to sustainability) approach. They have developed a specialised services related to carbon emissions accounting, ranging from emission calculations to reporting and to specialised accounting frameworks applicable in specific industries, such as banking, constructions and facility management, among other.
© INSpeakQuest
With a grant of 140,000 euro, SpeakQuest has created an AI-driven product that aids children with speech and cognitive deficiencies to enhance speech, comprehension and vocabulary as well as visual memory and listening skills. These digital products will be put to good use by being integrated into a speech enhancement app, called VoxiKids, and into the adjacent medical platform.
The Norwegian partner in the project is Osint Analytics. OSINT Analytics assisting SpeakQuest with 60 hours of coaching sessions regarding the AI models they are going to jointly develop through the project.
The project addresses the needs of specialised speech therapy for children all over Europe. This project is helping SpeakQuest get access to the European value chain while giving them the exposure and necessary opportunities to access new markets and significantly boost their scale up potential. With the support of the Grants, they will be able to deploy a market disruptive and unique solution that will improve the quality of life of children and their families all over the EU.
© INThe Startup Calls in Romania
With a total of 33 projects by startups currently in implementation, Innovation Norway is eager to follow the results being achieved. There are always higher risks in funding projects by startups, due to their limited human resources, financial capacity and business know-how, but the rewards are equally substantial. The EEA and Norway Grants have provided a platform for entrepreneurs (from 6 months to 4-year-old) to flourish and transform their innovative ideas into tangible solutions.
The two open calls for startups in the SMEs Growth Programme filled a funding gap in the Romanian market for financing startups. Whether it was due to timing or the tailored efforts to mobilise the startups, interest in the call was very high. The call received 45 applications for more than 6 million euro. The funding available could only finance 14 projects with 1,724,264 euro in total. Innovation Norway decided to organise a second call for startups. This call received even higher interest, with 55 applications for 8,9 million euro. The projects selected are in implementation until April 2024, but the results seen so far indicate that their impact will be high.
The Business Development, Innovation and SMEs Programme in Romania
The project is supported by Norway, Iceland and Liechtenstein through the EEA and Norway Grants. See more information under the Romania - SMEs Growth Programme (innovasjonnorge.no).