Starting with 23 February a new Order issued by Ministry of Education is regulating the Student Entrepreneurial Companies, a new-formed type of company designed to help young students and graduates in their first 3 years of graduation to develop their entrepreneurial skills.

According to it, these companies will be established by each university in Romania, being run by an executive board formed by teaching staff, tutors, local business people and students. Their main goal is to support, develop and encourage entrepreneurship in the universities, especially among students and graduates of higher education in order to increase competitiveness of universities in Romania, particularly by drafting guides related to business plans and/or project financing, mentoring, organizing events and competitions for start-ups and business ideas.

Furthermore, these companies will receive funding from the budget of the university, but the universities may also apply for grants and get other extra-budgetary resources.

The universities have a 6 months period to draft and adopt the inside rules and regulations for the companies’ activity.