Romania's green start-up sector experiencing rapid growth, according to a recent report
Romania's green startup ecosystem is on the rise, with a growing number of businesses focusing on renewable energy, urban mobility, and clean technology. According to the "Romanian Green Startups Overview Report 2024" launched by Impact Hub Bucharest and Startarium, Romania had over 2,300 startups in total as of 2024, with a combined estimated value of approximately EUR 19 billion. The green sector, while still relatively small, is showing promising signs of growth [1].
Key Figures and Hubs
The green startup scene is centred primarily in Bucharest, which hosts 39 green startups. Other notable hubs include Cluj, Timiș, Ilfov, Brașov, Sibiu, and Iași, each with at least 5 green startups [1]. Despite this, Romania ranks 25th in Europe for startup popularity overall, with green startups forming a fledgling ecosystem [1].
Legislation and Support
The growth of Romania's green startup ecosystem is supported by reforms aligned with EU policies and programs that encourage climate-friendly entrepreneurship. Initiatives like the Romanian ClimAccelerator program support innovative green startups [1][4]. The country also benefits from a skilled workforce and growing alignment with European climate agenda frameworks.
Main Fields of Activity
Prominent areas within the green ecosystem include renewable energy projects, particularly wind and solar power. One notable example is the Vifor project, Romania’s largest wind farm under development, featuring 42 wind turbines and expected to have a capacity of 461 MW by 2027 [2].
Urban mobility and sustainable transport are also areas of focus, with programs like the inVest Urban Mobility Accelerator supporting startups working on micromobility, traffic optimization, smart data systems, and digital platforms for urban logistics. This reflects a growing focus on smart, sustainable city transit solutions in Romania [3].
Clean technology innovations are also prevalent, with startups recently winning hackathons and accelerators dedicated to clean energy, agricultural technology, and environmental impact reduction [4].
Challenges and Opportunities
Oana Craioveanu, CEO & Co-founder of Impact Hub Bucharest & Startarium, stated that green startups in Romania are becoming relevant players but lack systemic support, capital, and confidence to compete globally [2]. Despite this, 55% of Romanian green startups already have their product on the market [1].
Looking Forward
The adoption of circular economy strategies in five key industries (cement production, aluminum, steel, plastic, and the food industry) can eliminate 9.3 billion tons of CO2 by 2050 [1]. As Romania continues to develop its green startup ecosystem, it presents a significant opportunity for the country to contribute to global efforts to combat climate change.
[1] Romanian Green Startups Overview Report 2024 [2] Romania’s Largest Wind Farm Under Development [3] inVest Urban Mobility Accelerator Supports Green Startups [4] Clean Energy Hackathon Winners Announced [5] How to Web Conference Supports Romanian Startups
Science plays a crucial role in the development of environmental-science-focused green startups in Romania, particularly in the fields of renewable energy, such as the Vifor wind farm project. Technology also plays a significant part in urban mobility and sustainable transport solutions, as evident in programs like the inVest Urban Mobility Accelerator. While these startups face challenges such as systemic support and funding, the growth of Romania's green startup ecosystem offers a promising opportunity for the country to contribute to global climate-change mitigation efforts by adopting circular economy strategies.
