The most prosperous ecosystem of tech startups is in capital Bucharest, followed by Cluj, Timis and Bihor.
The startups with the biggest revenue are in the same categories: automation (38.1%), Fintech (31.8%) and Marketing (12.1%).
The most significant evolution of the startup ecosystem in Romania took place in 2017, when the number of newly established startups almost tripled compared with the previous year.
The main markets represented or targeted by local startups are in Europe, in France, Spain, Italy, while 41% of respondents mention the United States of America as the main market.
The startups with the biggest staff numbers are included in the categories of fintech (35.2%), automation (35.2%) and marketing (14.2%).
The main financing source of technology startups is self-financing, while 36% of these firms raised private funds (Business Angels 23%, VC 9%, Equity Crowdfunding 4%).
The survey was conducted between February and March 2021, on a sample of 117 technology startups in Romania. ROTSA (Romanian Tech Startups Association) is a non-profit organization aimed at promoting, supporting and representing the interests of technology startups in Romania.