The micro, small and medium-sized enterprises and private individuals that intend to start a business will be able to benefit from grants for tech startups. This is non-reimbursable financing in the forms of grants in the amount of at most 80%, but not more than 500,000 lei. The Government approved the program to support digital invitations and tech startups, IPN reports.

Minister of Economy Sergiu Gaibu said the program will work based on three thematic financing components. Digital innovation refers to innovatory ideas and methods that led to the development of digital or electronic products, services or methods. The second component, green technology, refers to progress in research and development that lead to new technology products and services designed to replace materials, vehicles, processes and systems that generate negative results for the environment. The third component includes sustainable products, namely the development of processes, practices and innovative applications that would transform the existing industrial production methods so as to promote circularity of resources.

The Organization for the Development of the Sector of Small and Medium-Sized Enterprises is to design an operational manual for carrying out the program that will stipulate the implementation stages and conditions.