www.business-review.eu Business Review | March 2022
22 ENTREPRENEURSHIP
Romania’s OECD accession could change funding approach for local startups With Romania having initiated procedures to join the Organization for Economic Cooperation and Development (OECD), the local startup ecosystem could soon be approached by a wider range of investors, which would enhance the international visibility of the Romanian entrepreneurship community. By Ovidiu Posirca
The OECD has access to massive troves of economic information that can help startup founders get a grasp on the development picture of an economy
T
he Romanian startup industry has
has the potential to reach EUR 200 million,
been growing constantly for the
according to fund representatives who spoke
past three years, with total funding
to Business Review.
volumes more than tripling to around EUR
Against this backdrop, the OECD in Janu-
tion’s council following a complex review. Romania is already adhering to six of the eight essential standards for accession, according to PM Nicolae Ciuca. They cover
116 million in 2021, according to a How to Web
ary began to discuss accession with six candi-
several areas including corporate governance,
report. Authors added that the figure pointed
date countries, including Romania, Bulgaria,
taxation principles, and information ex-
out that the rise has been constant in recent
and Croatia. There is no deadline for the
change of economic data. The OECD said that
years.
completion of the accession processes and a
changes to the candidate countries’ legisla-
final decision will be made by the organisa-
tion, policy, and practices will be required
This year, total funding targeting startups
