The Tiny Studio is a proud winner of the Diaspora ReStart award, following a nearly 12 months race with another 148 start-ups which had been thrown in the ring.
Diaspora ReStart was organised by the National Council of Private SMEs in Romania (CNIPMMR) in conjunction with (and sponsored by) the European Union as part of a wider programme for member states, that aims to encourage innovative entrepreneurship, increase employability through new business creation and enhance economic growth in underdeveloped regions. The project was designed as a management course and new business plan competition for Romanian entrepreneurs that live outside of their home country. Throughout the programme, all participating entrepreneurs were required to finalise a business management course and to submit their business plans.
We're very proud of this achievement, it's the first one of this kind since our launch in London two years ago and the work it involves is also well aligned with our global expansion goals, says Alice Vasiloiu, CEO and Founder of The Tiny Studio.
The winners are granted up to €40,000 to help kick off their businesses in Romania and are now enrolled in a three-months mentorship programme with a view to help establish a long term development strategy for their new businesses and shape their ideas sustainably.
We were eager to launch in Eastern Europe and in Romania in particular as it's a market we are familiar with, so this prize couldn't have come at a better time. Moreover, the country is likely to reaffirm its reputation as a potentially rewarding investment haven in 2019, as its annual growth rate is apparently forecast to break the 5% barrier, added the CEO.
Regional segmentation reveals that of the 60 new firms, 26.67 percent will be set up in the North-East and Central regions of Romania (21.67 percent) and another 15 percent in the North-West region, according to CNIPMMR's recent press release (available here, in Romanian).
Further reading (external resources):
Business-Review.eu (English)
Bursa.ro (Romanian only)
Start-Up.ro (Romanian only)
Wall-Street.ro (Romanian only)