UK/Romania Business, in cooperation with CMS, Endeavor Romania and How to Web, published their “Technology Report: Understanding and Advancing the UK/Romania Opportunity” (the “Report”) on 12 June. The Report unveils crucial insights into the UK-Romania tech relationship and provides ways to further strengthen it. The launch was hosted at the Palace of Westminster, London.
The Report highlights the importance of supporting bilateral tech entrepreneurship and establishes a framework with recommendations to enable the development of a UK/Romania Tech Hub.
The UK is a natural destination for Romanian startups as they scale, and British venture capital a critical component to fuel this internationalisation. Strengthening ties between the two ecosystems, and by building a UK/Romania Tech Hub, we can help contribute to the success of Romania’s many high potential tech companies, and support investors, corporates and startups from Britain discover new opportunities in Romania.
The first in a series of sector studies, the Report offers an in-depth analysis of the Romanian tech ecosystem and provides valuable insights into the unique opportunities for UK investors, while also examining the constraints shaping the environment. Interviews with Romanian startup founders, venture capitalists, and prominent organisations in the information technology ecosystem and beyond reveal the practicalities of the Romanian tech startup landscape, the barriers to further growth, and the opportunities for stakeholders.
Remarking on the legal intricacies of Romanian startups, Mircea Moraru, Counsel at CMS Romania, says: “The Report highlights Romania’s vibrant tech sector, which offers substantial potential for UK investors. Investing in tech startups, however, involves a degree of risk, and when these investments cross international borders, the legal landscape becomes even more complex. For UK investors considering the dynamic tech scene in Romania, understanding and navigating the legal intricacies is essential. Investors must also ensure that these legal issues are not simply glossed over but are comprehensively addressed to prevent future complications.”
Mihnea Craciun, Managing Director, Endeavor Romania, adds: “The Romanian tech entrepreneurship ecosystem is poised for remarkable growth over the next decade. The sector is witnessing a shift from service-based models to product-led innovation and the success stories so far exemplify the potential for Romanian startups to achieve global scale, drawing on the country’s strengths in automation, cybersecurity, and fintech. Investment from UK-based venture capital firms into Romania startups has been fairly consistent over many years, as the Report shows. Resilience and growth are the best words to describe the startup landscape in Romania and I believe the country is gearing up for an exciting phase that promises new opportunities for UK investors.”
Setting out a five point plan of action to deepen ties between founders, investors, corporate partners and tech communities in the UK and Romania, the Report lays the foundations for a new and transformative collaboration dedicated both to supporting startups as they scale, and growing the scope and value of bilateral commercial ties. UK/Romania Business is trade and investment evolved
