Unicorn-ready: Why Timișoara is ready for impact entrepreneurship

Timișoara became the meeting point of brave minds on May 28th, in an event dedicated to innovation, technology and community leadership. Organized by Banat IT, Timișoara Startups, Timișoara City Hall, Visit Timișoara and Growceanu, the first edition of Timișoara Innovation City brought together entrepreneurs, experts, representatives of the creative ecosystem and public decision-makers to jointly shape a long-term vision: smarter, more open and collaborative cities.

The event was structured as a series of dynamic panels, in which key themes were discussed such as: the evolution of the local innovation scene, the strategic positioning of Timișoara at the European level and the role of an advisory board (Board of Advisors) in supporting long-term decisions.

In the opening of the event, Dominic Fritz, Mayor of Timisoara Municipality, pointed out:

“Timișoara must assume a greater ambition: to become a city of ideas, innovation and entrepreneurship. It is the chance of our future prosperity. If we really want to count in the global competition, we must build a solid local ecosystem – from investments, to entrepreneurial education, to real support for new ideas. And this must be a homework for all of us. What do we want with Timișoara Innovation City? We want Timișoara to become an innovation ecosystem capable of generating a unicorn – that is, a company valued at over 1 billion dollars – by 2030. We want to capitalize on local talent, connect the city to global networks and create a conducive framework for good ideas to scale and grow.”

During his intervention, Dominic Fritz also showed that there are several steps that need to be taken. First of all, accessing the money that is available for this through investment funds, European funds and international partnerships. Then launching a regional accelerator with access to international mentors and global markets, and last but not least, training entrepreneurial talents, through university programs, bootcamps and local incubators with the academic and business environment. At the same time, during the event, participants made an analysis of the local innovation ecosystem and were offered some strategic perspectives for positioning Timisoara as an innovation hub.

📍 Speaker: Dan Bugariu, President of Banat IT, co-founder of Growceanu: “There is a strong correlation between innovation and economic and social prosperity – the speed with which good practices are transferred from one field to another. The results obtained in an urban ecosystem are directly proportional to the available capacity, and among all capacities, leadership is distinguished by the credibility, clarity and inspiration it offers. When we are in the same boat and have agreed on the same direction, the risk that some of us will row in the opposite direction decreases.”

📍 Speaker: Vlad Gliga, Co-founder & CEO of Rubik Hub: “For regions to grow, local systems must grow. And for this we must start working today. Let’s gather the talents in the city and see who is motivated to make Timișoara a center of innovation not only in the country, but in the region. The authorities are facilitators, they are not the ones who have to do everything and if every day you bring something to an initiative, you make that initiative grow.”

📍 Speaker: Cristobal Alonso, General Partner Start-up Wise Guys: “Over 40 cities in Europe have unicorns. But they never work together. Learn how to grow here, you don’t have to go to the United States for that. Don’t compete with others because you will always be too small to succeed alone. Create a story to believe in. Try to build something. And if you don’t know what, work for someone who builds something”.

Speakers at the event, moderated by Vlad Andriescu, Editor-in-Chief of start-up.ro, were also: Alexandru Iovescu, Vice President of CJ Timiș; Adrian Mariciuc, Deputy General Manager of ADR Vest; Andrei Munteanu, Co-founder of Cowork Timișoara; Valentin Mureșan, Co-founder of ABQ Institute; Alexandra Petcu, Coordinator of the UVT Innovation and Technology Transfer Center; Silvia Fierascu, Founder & Director of FabLab; Silviu Vert, Associate Professor of UPT; Ciprian Man, Co-founder of Growceanu;