Florin Cașotă
Oana CoșmanWatch the Documentary
Watch the full documentary movie and discover Romanian startups and investors changing the world.
Lectură de 3 min
- 1 Aprilie 2025
Mălin Ștefănescu on the relationship between investor and founder: “No investor would invest unless they build trust"
Mălin Ștefănescu is one of the first angel investors in Romania, maybe even before we knew what that term meant. He just knows that when he decided to back up George Lemnaru and Green Horse Games, he wanted to give something back, to help both with knowledge and with money, although he wasn’t yet quite sure what that role would require. Was he scared? Of course, but he had trust. Nowadays he is the vice president of TechAngels Romania, the largest angel investors association here.
The documentary "Romanian Startups: Roaring Tigers of Europe", made by the start-up.ro team, spans across 33 years of history, from the first entrepreneurs in the transitional years to the initial technology company transactions that brought Romania into the international spotlight.
Romanian Startups: Roaring Tigers of Europe - The Extended Series will present the people who built the Romanian ecosystem and who discussed with the VideoCorp and start-up.ro team for this documentary. In this series you will find the extensive interviews and find out the stories of those who built entrepreneurship in Romania.
“In my opinion, no investor would invest unless they build trust", says Mălin Ștefănescu, vice president of TechAngels and founder of EEU Software. Investment is similar to entering a partnership, so mutual trust is paramount.
Founders and investors must align in vision and values, particularly in high-stakes environments like startups, where uncertainty is high.
This foundation of trust enables open communication, eases decision-making, and cultivates a nurturing environment wherein both parties can thrive.
For the Romanian Startups: Roaring Tigers of Europe documentary, Mălin Ștefănescu, a tech entrepreneur at heart and on his day to day job, reflects on his journey from being a curious teenager to a successful business leader and angel investor.
The role of succes in a thriving ecosystem
He recounts his early encounters with technology, his education in math and programming, and the pivotal moments that led him to found his own software development company. Through a series of experiences, including working in a corporate environment, participating in startup events, and navigating the challenges of building and investing in tech startups, Mălin highlights the evolution of the Romanian tech ecosystem.
“In the startup ecosystem, success breeds success. The achievements of one pave the way for others to dream bigger, encouraging a cycle of innovation and ambition”. Mălin believes in the interconnected nature of entrepreneurial endeavors. It serves as a reminder that individual successes can inspire a collective spirit of innovation and aspiration within a community, prompting more individuals to pursue their entrepreneurial dreams.
The notion goes beyond mere monetary success. It’s about fostering an environment where creativity and ambition flourish, contributing to a healthier and more vibrant ecosystem.
Failure is normal
Mălin’s own story is one about resilience, the importance of innovation, and the dynamics of angel investing, all while emphasizing the potential of the next generation of entrepreneurs.
“Failures are normal; nobody should be crushed by them. However, one must try to learn a lesson from each setback, for it’s the successes that often yield the best teachings”, says Mălin about the essence of resilience in entrepreneurship.
He emphasizes the fact that while failure is an integral part of the journey, the ability to glean insights from those failures is what ultimately propels innovation and growth. It’s crucial for entrepreneurs to acknowledge setbacks but not to be defined by them—learning and adapting is where true strength lies.
We’ve discussed at length with Mălin Ștefănescu for the Romanian Startups: Roaring Tigers of Europe documentary.
- The power of early exposure to technology: Mălin’s early experiences with computers and programming shaped his future. This underscores the importance of introducing young people to technology, encouraging them to explore and innovate.
- Transitioning from services to product development: His attempts to shift from a service-based model to product development highlight a common challenge faced by many tech entrepreneurs. This reflects the need for a strong understanding of market demands and product-market fit before making such transitions.
- Silicon Valley dreams: A significant moment occurs when he receives a job offer from Silicon Valley, showcasing the allure and ambition of working in tech.
- Cultural perceptions around Silicon Valley: The allure of Silicon Valley represents more than just a job opportunity, it symbolizes the pinnacle of tech innovation and success. This illustrates the global narrative around Silicon Valley and its impact on aspiring entrepreneurs worldwide.
- Learning by doing in angel investing: Mălin’s own journey into angel investing emphasizes the importance of experiential learning, especially in a field where formal education may not exist. This insight encourages potential investors to engage actively and learn from their participation in the startup ecosystem.
- Evolving ecosystem dynamics: The discussion around the Romanian startup ecosystem reveals how the landscape has changed over time, particularly regarding investor interest and available funding. This points to the significance of community and collaboration in fostering a healthy startup environment.
- The role of success stories: The mention of successful exits, such as UiPath, serves as a motivator for both investors and entrepreneurs alike. It highlights how success breeds further success and investment interest, creating a positive feedback loop within the ecosystem.
- Opportunities for all: Mălin’s message of empowerment for young entrepreneurs emphasizes that regardless of background, anyone can succeed in today’s tech landscape. This serves as an encouraging reminder of the leveling effect of technology and entrepreneurship in a globalized world.
Roaring Tigers of Europe is a production by start-up.ro and Videocorp, part of the Romanian publishing company InternetCorp, active for almost 20 years on the market. The documentary was made with the support of partners BCR, Orange, and 2Performant. Community partners included Guran Consulting Global, How to Web, Launch, Impact Hub Bucharest, Flaviu Simihaian, Rubik Hub, SoftServe, and the Romanian-American University.
Watch the full documentary in the video below:
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Florin Cașotă
Jurnalist cu peste 10 ani de experiență în print, online și video. Florin este pasionat de tehnologie, startup-uri și de industria de jocuri video. Vrea să spună povești, în scris, dar și pe video, într-un mod cât mai atrăgător posibil și vrea să prindă ziua în care va putea cumpăra un robot-majordom. Deocamdată are doar robot-aspirator.
Oana Coșman
Editor start-up.ro & redactor-șef Green Start-Up, jurnalist cu o experiență de 17 ani în presa de business (Forbes România, Ziarul Financiar, Business Standard), călător avid și cu o pasiune pentru unicorni și fonduri de investiții, Oana urmărește îndeaproape antreprenorii din întreaga lume și descoperă poveștile lor.
