Micro and Small Medium sized enterprises (MSMEs) are the backbone of Moldova’s economy. The war in Ukraine has strongly impacted the sector, and by embracing the EU accession opportunities, Moldovan MSMEs must overcome a series of challenges such as scarcity of finance, shortage of labour force, limited local market capacity and climate change effects, as well as low operational efficiency leading to high production costs.
In this framework, since November 2023 through the CEI Fund at the EBRD financed by Italy, the Organisation has been supporting the technical assistance for the “Advisory to MSMEs and Start-Ups in Moldova” programme. The initial financing amounted to 500,000 EUR, replenished with additional 500,000 EUR in late 2024.
This programme enabled the launch of a flagship EBRD product in Moldova – the Star Venture programme (Star Venture) in support of high-potential start-ups and start-up ecosystem players. The programme addresses the need to support the MSME ecosystem’s development including both high potential start-ups and local accelerators, smaller and innovative companies with a strong potential to scale up and prepare to access finance, build partnerships, and excel, thus positioning themselves as the drivers of the economy in the future.
The overall objective of the Programme is to foster economic development and enhance the competitiveness of MSMEs and early-stage enterprises in Moldova, allowing them to realise their untapped potential, attract finance from diverse sources, and foster innovation. It contributes to building an innovation-friendly business environment, and it will ultimately produce a positive socio-economic impact on the local community through job-creation, skills development, and economic prosperity. The programme supports businesses from many industries, such as food and beverages, wholesale and retail distribution and construction and engineering all over the country.
For instance, the programme co-financed the Startup Moldova Summit 2024, an initiative which brought together young start-up community builders, youth-led tech SMEs, high potential start-ups, founders, venture capitalists, business angels and mentors.
In addition, a call for applications was launched, and selected start-ups are currently involved in mentorship support and business diagnostic workshops including advisory support.
Case study beneficiary example available HERE.
For more info: dovier@cei.int