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shareholders in the Romanian National Statistics Institute’s 29 and under category are actually Millennials, but wherever the line is drawn the figures show a startlingly large proportion of shareholders are in the youngest decade of adulthood.
Cromwell Evan Global’s founder and co-managing partner Oana Motoi told a press conference this is a phenomenon seen all over the world, not just
in Romania.
The other observation made by Motoi is that a lot of the businesses launched by younger Romanian adults are "more oriented towards creatives, restaurants and things like this”.
“They are the creators of the new busi- ness type: from specialty coffee shops and design studios, to IT hubs or fashion businesses,” the firm’s analysis said.
This indicates that younger entrepre- neurs are embracing sectors that fit in
with a certain kind of lifestyle – rather than seeking to build groundbreaking businesses.
“We have seen large multinationals starting to work with subcontractors because this generation doesn’t want to get stuck in the office, work eight hours
entrepreneurs in Romania, already
a popular destination for international IT and outsourcing firms.
Examples of successful companies launched by older generations
of Romanians include robotic process automation (RPA) software
“They are the creators of the new business type: from specialty coffee shops and design studios, to IT hubs or fashion businesses”
a day and sometimes more, they want to be flexible, they want to have a flex- ible programme and so on,” Motoi told journalists.
And while many of the businesses launched by young entrepreneurs may not have the potential for breakout success, the exception is the IT sector, which has been highly attractive for
company UiPath, which raised $225 million in its latest series C funding in mid September, taking its valuation to $3bn. Bitdefender is another example of a company founded by Romanians that has achieved international success, but there are also strong examples across the IT hardware and game development segments among others.
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