From IT outsourcing hub to startup ecosystem: Four catalysts behind Romania's venture capital transformation Liliana OlarteMatteo VidiriDavide Strusani May 05, 2026 This page in: English © 2026 The World Bank Group,

https://blogs.worldbank.org/en/psd/it-outsourcing-hub-to-startup-ecosystem-romania-venture-capital- Throughout the 2000s and early 2010s, Romania was known more as an IT outsourcing destination than a startup hub. Its talent base was strong, but the broader entrepreneurial ecosystem remained nascent, with venture capital activity lagging regional peers well into 2015. Over the following decade, the landscape changed dramatically: cumulative venture capital (VC) investment rose from less than $1 million between 2011 and 2015 to an annual average of $84 million between 2021 and 2024. © 2026 The World Bank Group,