BUCHAREST, Romania, June 7, 2012 /PRNewswire-USNewswire/ -- Capitalizing on the rapidly-growing Romanian economy and the high level of software engineering talent available, the Digital Catalyst Fund has announced a new chapter in the legacy of the country's entrepreneurial business incubators.
"As Honorary Consul of Romania to the United States, but also as an American citizen, my role is double, trying to do everything I can for young people on both continents," noted Nadia Comaneci, Digital Catalyst Fund board member. "This project is a special one for me, being the first that allows me to sustain at the same time the young Americans and Romanians and the Romanian economy. Dreams will become reality helped by the Digital Catalyst Fund, the business incubator in which I so much believe, and the Romanian economy will benefit from it."
Marking the shift in the country's rapidly growing economy, Digital Catalyst Fund partners include a world-class board of international experts. These range from tech professionals, academics, entrepreneurs and marketers. Founder Crisitian Burci has pledged up to $1.5 million annually, plus 24/7 access to state of the art physical infrastructure.
By attracting entrepreneurs from the United States and Europe and connecting them with leading tech teams in Romania, the Digital Catalyst Fund will help remove the most significant hurdles facing start-ups -- finding CTO/tech partners and accessing low-cost development. Romania's healthy and growing economy, access to technical talent, and favorable tax treatment will help ensure that profitable entities result from the unique combination of smart capital and multi-faceted talent.
"This is the best of the old and the new Romania," says Nadia Comaneci. "This is the same Romania which has always seen great leaders and supported great achievement, and the best of the new Romania which is now bringing the strength of the private market to catalyze new forms of entrepreneurial growth. As an Olympic Gold Medalist, I was honored to be part of the old Romania; today I am honored to be part of the new."
Applications for entrepreneurs will close on July 15th. Ten startups will be selected by August 1st and the boot camp in Romania will start one month later. The DCF will start its second round of investments in ten new companies in Jan 2013.
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About Digital Catalyst Fund: Digital Catalyst Fund is a Bucharest-based early-stage business incubator dedicated to bringing together the brightest minds in business, marketing, and technology, and combining them with local developers' talents in order to create the most interesting and engaging digital startups imaginable.
SOURCE Digital Catalyst Fund