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Description
The Step Forward Together project wants to help Romanian businesses, especially new ones, do better. Further, the project involves running a program to help 20 new startups, teaching people about diversity and sustainability, and transfering knowledge on how they all can make a difference. The project wants to make sure that startups in Romania have the right support and know-how to succeed while also promoting fairness and taking care of the environment.
The main outcomes of this project will be increased competitiveness of Romanian SMEs enterprises within focus area Green Industry Innovation. The project also aims at achieving enhanced business cooperation between donor states entities and beneficiary state entities. Achieving these outcomes will be a driver for building an ecosystem that encourages the participation of a more diverse group of founders, which will lead to even more entrepreneurial activity than already exists today.
In order to achieve these goals the key activities of the project includes:
- Partner matchmaking
- Project Management and Running the Step Forward Together Accelerator
- Project Publicity
This project also has a strong bilateral component. The project has a Norwegian partner in Startup Norway. They have worked to build a leading start-up ecosystem in Norway by strengthening entrepreneurs and the ecosystem''s knowledge and skills through competence-enhancing measures. Startup Norway will complement StepFWD efforts on a two-fold level:
1. Contributor to: The Handbook of Norwegian good practices, a compendium of lessons and use-cases from the Norwegian ecosystem. This will shape the design of Step Forward Together Accelerator, as well as the communication and learning materials for mentors, investors and advisors.
2. Participant in: common Romanian-Norwegian events in Oslo, Cluj and Bucharest dedicated to local entrepreneurs, founding teams, mentors, investors and advisors.
Summary of project results
The Step Forward Together project has helped Romanian businesses, especially new ones, perform better. Further, the project involved running a program to help 20 new startups, teaching people about diversity and sustainability, and transfering knowledge on how they all can make a difference. The project wanted to make sure that startups in Romania have the right support and know-how to succeed while also promoting fairness and taking care of the environment. The main outcomes of this project will be increased competitiveness of Romanian SMEs enterprises within focus area Green Industry Innovation. The project also aims at achieving enhanced business cooperation between donor states entities and beneficiary state entities. Achieving these outcomes has been a driver for building an ecosystem that encourages the participation of a more diverse group of founders, which will lead to even more entrepreneurial activity than already exists today.
The project undertook several key activities and produced significant outputs aimed at fostering innovation and supporting start-ups. The primary activities included the common development of a compendium of guidelines and use-cases, which served as the foundation for both the Step Forward Together Accelerator and the communication and learning activities dedicated to mentors, investors, and advisors.
The project also designed the support structure for the Step Forward Together Accelerator, including the schedule, modules, and procedures. During the first phase of the Accelerator, the team selected and supported 20 start-ups. The second phase focused on the most competitive 6 start-ups, providing tailored support according to each start-up''s challenges and goals. This phase also involved selecting suitable mentors to work weekly with the start-ups, continuing fundraising support, and helping build partnerships and reach potential clients.
Additionally, the project organized awareness and learning modules about the role of Diversity, Equity, and Inclusion (DE&I) and sustainability in developing the local business ecosystem. These modules were tailored to the representatives of three key stakeholder groups: entrepreneurs, mentors-investors-advisors, and regulators. The project also launched the second edition of the Diversity Report and published a Project lessons handbook.
These activities and outputs collectively aimed to enhance the support structure for start-ups, promote DE&I and sustainability, and provide valuable insights and guidelines for future initiatives.
The project achieved significant results that impacted various beneficiaries within the startup ecosystem.
One of the key outcomes was Diversity Recognition. The publication of the Diversity Report has further solidified the perception of diversity as essential for innovation within the startup ecosystem. This recognition underscores the importance of diverse perspectives in driving creativity and growth among startups.
Another important result was Community Engagement. The continued engagement on social media platforms like LinkedIn indicates that the startup community is actively interested in diversity and StepFWD’s initiatives. This engagement reflects a growing awareness and support for diversity-related activities, which helps in fostering an inclusive and innovative environment for startups.
These outcomes have primarily benefited the startup community, including entrepreneurs, mentors, investors, and advisors, by promoting diversity as a key driver of innovation and by engaging the community in meaningful discussions and initiatives related to diversity.
Summary of bilateral results
This project also has had a strong bilateral component with the Norwegian partner, Startup Norway AS which has build a leading start-up ecosystem in Norway by strengthening entrepreneurs and the ecosystem''s knowledge and skills through competence-enhancing measures. Startup Norway has complemented StepFWD efforts, and it is noted that the partnership with Startup Norway has been vital for sustainability, as StepFWD have witnessed theirgroundbreaking work in environmental entrepreneurship. The partnership is not just transactional but transformational, aiming to create a lasting impact by building a regional entrepreneurial-competence hub. The cooperation has been smooth, productive, and mutually beneficial, promising significant value for both ecosystems.