Mircea Vădan: “Failing is not the opposite of success; it’s part of success”

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.

For the Romanian Startups: Roaring Tigers of Europe documentary, our conversation touched on topics such as mentorship, community support, and collaborative efforts.

We’ve talked about the importance of building a network where knowledge and resources are shared.

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A healthy startup ecosystem is one where founders, investors, and mentors work together to uplift each other, ultimately driving innovation and success across the board. The formation of groups like the Transylvania Angels Network illustrates this spirit of collaboration.

Mircea Vădan helped create the Cluj Startups community back in 2012, and since then has contributed to the development of communities such as FreshBlood.Health, Startup Weekend Cluj, Spherik Accelerator, Romanian IT and Fintech.Camp.

“Innovation thrives in an ecosystem where collaboration outweighs competition”, says Mircea.

The discussion around mentorship, community support, and collaborative efforts underscores the importance of building a network where knowledge and resources are shared.

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During our interview, Mircea Vădan highlighted the transition from a naive enthusiasm for startups to a more mature understanding of the complexities involved in building successful businesses.

He also discusses the significance of mentorship, collaboration, and the emerging verticals in the Romanian startup scene, such as health tech and fintech.

We concluded our discussion with insights on the current state of investment in Romania and the future potential for growth, emphasizing the need for improved ambition, business acumen, and a supportive regulatory environment.

“Your market is not just the place you live, it’s the world”, Mircea mentioned, suggesting that Romanian founders should think globally rather than being limited by their immediate surroundings. By aiming for larger markets, startups can unlock greater potential and opportunities. This mindset shift can lead to significant impacts not only on the startups themselves but also on the local economy and community.

We’ve discussed at length with Mircea Vădan for the Romanian Startups: Roaring Tigers of Europe documentary.

• The value of failure: Mircea Vădan emphasizes that failure is often part of the startup journey. His early experiences taught him valuable lessons about product validation and market traction, which he now shares with aspiring entrepreneurs. This openness about failure can help foster a culture where learning from mistakes is accepted and encouraged, ultimately leading to more resilient startups.
• Community building is crucial: The growth of the Romanian startup ecosystem is attributed to the establishment of communities like Facebook groups and mastermind sessions. These platforms facilitate knowledge sharing, mentorship, and collaboration among founders, creating a supportive environment that can significantly enhance the chances of startup success.
• The importance of verticalization: The discussion highlights how focusing on specific verticals, such as health tech and fintech, can strengthen the startup ecosystem. By cultivating expertise and resources in these areas, Romania can attract more startups and investors, thereby increasing its competitiveness on a regional and global scale.

• Communication between founders and investors: The evolution of communication styles between founders and investors is crucial. Mircea notes that many founders lack the confidence to seek feedback or funding, often assuming disinterest from potential investors. A culture that encourages persistent communication and follow-ups can bridge this gap and foster stronger relationships.
• Regional collaboration: Mircea Vădan advocates for a united Eastern European startup ecosystem where countries collaborate rather than compete. By pooling resources and knowledge, countries like Romania, Bulgaria, and Hungary can create a more robust support network for startups, increasing their chances of success in a global market.
• The need for education in business: He points out that many Romanian founders still lack essential business skills and knowledge about the startup landscape. By investing in education and mentorship programs, the ecosystem can develop more well-rounded entrepreneurs who understand the complexities of running a business beyond just the technical aspects.
• The role of local authorities: The discussion touches on the role of local and central authorities in supporting the startup ecosystem. Effective regulations and funding directed towards innovative startups can accelerate growth. By aligning governmental support with the needs of the startup community, Romania can create a more favorable environment for entrepreneurs to thrive.

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: