“If banks financed start-ups with high risk, I don’t think you’d deposit your money there. We lack funds which are useful at the beginning of the road, namely the early-stage or pre-seed funds,” Barta added, cited by local Wall-street.ro.

The business angel law, which was approved at the end of April, has certain shortcomings, he said. The law allows individual investors to put money in start-ups and early projects and gives them certain tax benefits.

However, the problem lies in the fact that anybody can become a business angel, by the new law, should they comply with several conditions at the same time. (source: Romania-insider.com)