3 Romanian Women Founders Secure 60,000 Euro She's Next Grants

Three women entrepreneurs from Romania have been awarded a combined €60,000 in funding through the She’s Next program, an initiative supporting female-led businesses with financial grants, mentoring, and access to a strong entrepreneurial community. The awards were presented during the Pitch Day which took place on 27th May in Bucharest, in the framework of the She's Next Awards Gala, organized by ING Bank Romania, in partnership with Visa and Impact Hub Bucharest.

The grants came in three levels: €30,000 for first place, €20,000 for second place and €10,000 for third place, which were based on the potential of the business, innovation and scalability. For the second run of the program some 1000 women-led businesses applied for a pitch, and 10 business ideas were selected to pitch to a jury of experts.

The program has evolved into a mentorship and ecosystem-building program as well as a funding opportunity. She's Next plans to help jumpstart ideas to scalable companies with a structured approach with financial support, program leaders say.

According to Luana Sorescu, Head of Easy Banking in the Business Banking division at ING Bank Romania, the courage of female entrepreneurs is increasing in Romania. Although many Romanian businesses are now female influenced and/or owned, many people who start businesses do not have any formal models to follow, she added. She said supporting entrepreneurs in the early stages is crucial to making their ideas a viable business.

Similarly, Elena Ungureanu, “Visa Country Manager for Romania, calls She’s Next a more than a grant program. It's a place where entrepreneurs can test their idea out, determine where they're heading, and build confidence to think bigger with the help of mentorship, visibility, and a relevant business community”, she said.

There was a high level of participation in the program this year, and entrepreneurs from a variety of sectors, including music, consumer goods, technology, design and hospitality. Casa Petrina, Telinfinity, AER, Castelul Maria, AlbAlb, IONA, ZEN-VITA, Almek Wood Arch, Watermelon Agency and Lime Studio were the final 10 businesses. Every enterprise was at a different level of business maturity and on a different stage of market targeting.

Key Highlights:

• Three Romanian women entrepreneurs won a total of €60,000 under the She’s Next program
• Nearly 1,000 applications were received, with 10 finalists pitching diverse business ideas
• The initiative offers funding plus mentorship to support women-led businesses

During the programme, the finalists were provided with individual mentoring, coaching in group sessions and business model strategic workshops. They were mentored by seasoned entrepreneurs and industry leaders in areas such as leadership, branding, healthcare, education, marketing and finance. The mentorship element was deemed to be a crucial aspect in assisting the founders to fine-tune their growth plans prior to the pitch.

Oana Craioveanu, CEO and Co-founder of Impact Hub Bucharest, Romania, notes that despite significant strides in gender equality over the past decade, Romania still falls short compared to the European Union average, especially when it comes to gender participation in economic activities and representation in leadership roles. She said, however, that there are female entrepreneurs making a big difference by establishing businesses that help them become financially independent and contribute to the development of their communities.

ZEN-VITA was one of the winners, with a line of Kombucha Natural fermented beverages. Iulia Suciu is the founder of the company which has already expanded to more than 100 retail outlets including the major chains in Romania. Thanks to the grant, she will be investing in production equipment, growing her staff and ramping up in-store activations for national scale-up.

AlbAlb is an e-commerce website curated by Cristina Olteanu, showcasing creative products from Romania from jewelry to illustrations. The investment will facilitate its journey toward becoming a fully automated and AI-driven e-commerce app that enables local creatives to reach more audiences both in Romania and globally.

Carina Sava is the founder of Watermelon Agency, a music industry development and artist management company. The grant will be used to build a recording studio, grow the creative team and enhance production capacity to support new artists and original music production.

The three winners represent the variety of the growing entrepreneurial landscape of women in Romania – from the food sector, digital commerce, to the creative sector. While providing funding, the She's Next program is also seen as a catalyst that provides mentorship to help women-led businesses from the idea phase to a sustainable growth phase.