Bucharest is becoming one of the best places to build a startup, but most of the early-stage entrepreneurs we speak to aren't aware of the local tech resources that are available to help them.
With applications for the Bucharest Founder Institute now open, we're excited to release the Bucharest Startup Resource Guide, which is currently in Draft v1 below! It was developed by the Bucharest Founder Institute and local leaders Alex Dascalu (Lead Director, Founder Institute Bucharest) and Nicoleta Gologan.
This is just a draft v1, and while we spent many hours on this research, more input is needed. Please leave your comments on this collaborative Google document to help us complete the list. There are definitely omissions on this current version.
Are you looking to build a startup in Bucharest? Then apply to the Bucharest Founder Institute today!
Text version included below, for ease of searching:
Startup Stages
There is no one right way to build a technology company, but for the sake of simplicity we have outlined a basic, common, sequential framework.
1. IDEA-STAGE
This is where new entrepreneurs get inspired, learn best practices, develop skills, validate ideas, and begin to build their team and product.
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Inspire
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Startup Media: Centralized local information, listings, and news. (i.e. startup blogs/ publications/ lists/ FB groups/ newsletters, Startup Digest)
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Inspirational Events: Open, inclusive, beginner startup events (i.e. Startup Weekend, idea fairs, and inspirational meetups)
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Educate
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Best Practices: Beginner knowledge-sharing events. (i.e. beginner events that serve to educate more than inspire, like Startup Founder 101, etc).
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Training & Feedback: Skill & Idea development. (Ex. bootcamps and comprehensive training programs, like Founder Institute, etc)
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Validate
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Team Formation: Resources for teaming up. (i.e. events or other resources that facilitate early-stage recruitment and cofounder matching)
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Build First Product: Hackathons & resources to build. (i.e. hackathons and other builder-focused events and resources)
2. LAUNCH-STAGE
In this stage, entrepreneurs establish and formalize the company, develop the product, get feedback from customers, and prepare for the next step.
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Start
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Establish: Law firms & banks for startups
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Workspace: Co-working and flexible workspaces (note: “official” office space goes in 3.1.a. Infrastructure)
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ARTHUB Bucharest - art hub in Romania
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Develop
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Formalize: Accounting, development and HR for early-stage startups.
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Prepare for Seed: Incubators and advanced mentorship. (i.e. advanced knowledge sharing, later stage events and resources for startup TEAMS)
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Launch
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Seed Accelerators: Seed funding mentor programs (Techstars-style programs that provide funding)
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Pitch & Demo: Show local startups for investment (i.e. demo days for companies seeking seed investment)
3. GROWTH-STAGE
Here, a startup proves their utility, receives recognition, and scales up. This usually requires funding, angels, VCs, and ways to connect them to startups.
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Recognition
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Investor Networking: Connect professional investors with founders. (i.e. events or groups that facilitate connections with professional investors)
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Major Media: Mainstream local business press. (i.e. major local or regional publications that frequently champion local businesses)
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Funding
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Angels / Micro-VCs: Seed-stage investors (search AngelList, Gust, Crunchbase)
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Venture Capitalists: Series A and beyond
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Growth
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Infrastructure: Office space, HR, local business insurance. (i.e. office space/ HR/ insurance providers for capital-rich companies to grow and scale)
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Expansion: Growth accelerators/consultants. (i.e. programs and business consultants for capital-rich companies to grow and scale)
4. SUCCESS STORIES
Successful homegrown companies that have raised significant institutional funding, employ a large workforce, or have achieved liquidity.
Supporters
To facilitate the steps, every ecosystem needs strong supporters.
1. EVANGELISTS
Successful local founders who lead the ecosystem & frequently mentor newbies. (i.e. Local leaders who have taken a leadership position, speak at a lot of startup events, mentor all the programs, etc)
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Bogdan Manoiu
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Cristian Orasanu
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Gregoire Vigroux
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Mircea Capatana
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MIrcea Criveanu
2. GOVERNMENT
Public organizations that facilitate local economic development
3. TALENT
Major local business or tech universities and employers that attract and retain local talent.
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Local Universities (universities with prominent technical or business programs)
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Local Employers (Major technical employers, like Microsoft or Google or large local companies, with large local offices)
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Infineon
Learn more about the Startup Ecosystem Canvas here, and leave us your thoughts on the Bucharest Canvas on this collaborative Google document (This is just a draft, and more input is needed!)
