“Startup” has become a very popular term both globally and here in Romania. Many believe that just having a good idea for an app or programme one day can gives you a good chance of becoming a millionaire in a matter of months. However, even if a few startups have had fast, almost miraculous growth seemingly overnight, it is wrong to think that this happens very often in the startup world. Most of these companies really struggle to get off the ground, and their survival and success are simply the result of hard and continuous work. There are private organisations that help startups grow, called business accelerators, which usually offer financial support and guidance to help a startup develop. Business Review spoke to Jennifer Austin, a founding partner of the Risky Business Accelerator in Cluj-Napoca, who offered insights into the Romanian startup world and the threats startups in the country face, both from the outside and from within. When did you start working in the Romanian startup scene and how has it evolved since? In 2014 I moved from California to Cluj, Romania. Since then the startup ecosystem has matured considerably. At the time, there were few legitimate startup investors–especially… Read full this story
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