EU funding for 40 start-ups: EUR25,000 for each of 40 business ideas

400 youths will benefit from entrepreneurial education and 40 business ideas will be supported through European funding totaling EUR1,000,000 as part of the “Entrepreneurship - a chance for a better future for youths” programme run by the Ilfov County Council in partnership with the Travel Focus Association and the Excelsior Association.

The implementation comprises two phases over a ten-month period. So, at first, once the selection of 400 youths aiming to become entrepreneurs is completed they will be enrolled in an entrepreneurship educational programme of 40 hours over two weeks, during which they are supposed to learn to create a professional business plan. 

Based on those business plans, the second phase will be launched. Then, 40 of the best plans will be selected and each of them will be granted EU funds of up to EUR25,000.

According to the programme requirements, the beneficiaries must establish their own firms which must be kept in business for at least three years and use the funding for development purposes. Also, the entrepreneurs must hire at least two people and maintain their jobs not less than six months after the program closes.

In the selection process, preference will be given to certain fields, such as: IT&C, tourism and ecotourism, textiles and leather, wood and furniture, creative industries, automotive, food and beverages, healthcare and pharmaceutical products, energy and environment management, agriculture, forestry, aquaculture, biopharmaceutical and biotechnologies.

The “Entrepreneurship - a chance for a better future for youths” project is funded by “Human Resources Development” Operational Programme 2007-2013, Priority Axis 3 - “Increasing adaptability of workers and enterprises” and targets the Buchares-Ilfov region and South-West Oltenia region, where the new business will be established.