Romania's Startup Ecosystem Soars to 44th in Global Rankings

Romania has made impressive strides in the global startup ecosystem, climbing four positions to secure the 44th spot. This achievement is underscored by an annual growth rate of 32.9%, marking Romania as the second fastest-growing startup environment in the European Union, following Cyprus.

Leading the charge in the Balkans, Romania tops the Funding & Capital indicator, showcasing its vibrant entrepreneurial landscape. Bucharest, while ranked 112th globally, has made a notable advancement of two positions since the last ranking.

Cluj-Napoca has shown remarkable progress as well, climbing 49 places to reach 336th worldwide. Meanwhile, Oradea has emerged as a standout, experiencing a spectacular leap of 137 spots to land at 592nd, and has been recognized by StartupBlink as the fastest-growing startup ecosystem in Romania.

The Make IT in Oradea initiative, launched in 2020, has played a crucial role in supporting over 100 founders from Europe through its programs. Timișoara, with its own advancements, now sits at 650th globally after rising 44 positions, buoyed by the launch of the Vest Ventures fund.

Other cities like Iași and Brașov also contribute to Romania's narrative of growth; Iași is placed at 738th, while Brașov has achieved the most significant rise among Romanian cities, gaining 160 positions to reach 817th in the world rankings. These developments reflect a thriving entrepreneurial spirit and a promising future for Romania's startup ecosystem.