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Bucharest

ADR Vest Aims to Create a Romanian Unicorn by 2027

Published on 16 August 2024

The Western Regional Development Agency (ADR Vest) in Romania has launched a new business accelerator, the first of its kind in the country, aimed at supporting the growth of innovative tech companies

By 2027, ADR Vest aims to create at least one model company in the region, with a valuation exceeding 1 billion dollars.

This week, the agency began the selection process for the manager who will lead this accelerator, which is expected to secure over 11 million euros in funding. These funds are sourced from the EU’s Regional Development Program for 2021-2027 and could be supplemented by private investors.

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Sorin Maxim, General Director of ADR Vest, highlighted the significance of this project for the western region of Romania, which includes the cities of Arad and Timișoara. “We are focusing our attention on innovative ideas and companies with high potential for success. Our goal is to support at least 100 companies in the pre-acceleration stage, 40 SMEs in the acceleration stage, and 10 SMEs in the early-stage funding phase,” said Maxim.

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The Western Regional Development Agency (ADR Vest) in Romania has launched a new business accelerator, the first of its kind in the country, aimed at supporting the growth of innovative tech companies

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