Romania’s green startup ecosystem gaining momentum, report shows
<p>Romania’s green startup ecosystem is gaining more and more momentum, driven by a skilled workforce, reforms aligned with EU policies, and the climate emergency, according to a report prepared by Startarium and Impact Hub Bucharest.</p>
<p>In 2024, there were over 2,300 startups in Romania, with a total estimated value of approximately EUR 19 billion. Romania ranks 25th in Europe among the most popular countries for starting a startup, but the green ecosystem is still emerging, so data on it is still scant.</p>
<p>To remedy that, Impact Hub Bucharest and Startarium, together with the main partner Rompetrol and with the support of Climate-KIC, launched the fourth edition of the report on green startups in Romania, “<a href="https://startarium.ro/articol/romanian-green-report-2024">Romanian Green Startups Overview Report 2024</a>.” It provides an overview of the current state of the ecosystem, the legislation that supports green entrepreneurs, case studies, as well as key figures, all integrated into the European context.&nbsp;</p>
<p>The report shows that the main hub of activity for green startups is Bucharest (with 39 startups), with other notable concentrations in Cluj, Timiș, and Ilfov, each with at least 5 green startups, followed by the counties of Brașov, Sibiu, and Iași.</p>
<p>The vast majority of companies in the dataset (90 out of 104) are micro-enterprises, with an annual turnover of less than RON 2 million in 2023 (the latest reported year). A significant number of companies, over 50, reported very low profit margins (below 10%), a few recorded negative margins, and in isolated cases percentages even exceeded 300-400% (likely companies in high-profit-margin sectors – software or digital platforms).&nbsp;</p>
<p>According to the report, this unequal profitability landscape reflects early difficulties in monetization or operational efficiency, the fact that capital size depends on the sector, and an inconsistent correlation between green goals and immediate financial viability.</p>
<p>Moreover, the data shows that urban innovation hubs remain essential for green entrepreneurship.</p>
<p>Software and digital tools dominate the early growth phases of green businesses, but infrastructure and recycling are also growing.</p>
<p>AgriFood tech (34% of analyzed startups), circular solutions and waste management (17%), clean energy and energy efficiency solutions (12%), sustainable mobility (10%), green construction and smart cities (9%), water and biodiversity (6%) are the main fields of activity for Romanian green startups.</p>
<p>The report also revealed that 83% of startups develop their own products or technologies (of which 55% already have the product on the market).</p>
<p>“Green startups in Romania are no longer just stories of sustainable idealism. They are becoming relevant players, with scalable technologies, validated markets, and measurable impact. What’s missing? Systemic support, capital, and confidence that Romanian innovation can compete globally. Despite the large number of tech startups in Romania, green ones still represent a marginal segment. In comparison, Poland has 3 times more renewable energy startups, and Hungary surpasses Romania in terms of CleanTech investment volumes,” said Oana Craioveanu, CEO &amp; Co-founder of Impact Hub Bucharest &amp; Startarium.</p>
<p>Green startups bring essential benefits in a context dominated by the climate crisis. In Romania, the average annual temperature has gradually increased since 1940, reaching 11.6° C in 2023. To combat global warming, new technologies and approaches are essential.&nbsp;</p>
<p>For example, 9.3 billion tons of CO2 can be eliminated by 2050 through the adoption of circular economy strategies in five key industries: cement production, aluminum, steel, plastic, and the food industry. This figure is equivalent to almost half of the emissions generated by goods production and is comparable to reducing all current transport emissions to zero.&nbsp;</p>
<p><em><a href="mailto:radu@romania-insider.com">radu@romania-insider.com</a></em></p>
<p><em>(Photo source: press release)</em></p>