BR/08/2018 by Business Review

September 2018 / Volume 22, Issue 8

www.business-review.eu

2018 HOUSING MARKET OUTLOOK COOL

START-UP ACCELERATORS GAIN GROUND

THE MILLENNIALS REVIVING COMMUNIST BRANDS

ROMANIAN EMIGRANTS BRING MONEY AND POLITICAL PRESSURE

Photo: Dreamstime

we #makeithappen

www.business-review.eu Business Review | September 2018

EDITORIAL 5 REAL ESTATE

• Editorial •

Anda Sebesi

8 Bucharest office market towers over property sector

• Deputy Editor-in-Chief •

10 2018 housing market outlook cool

COVER STORY

The generation of #makeithappen

ith the aim of burnishing its credentials as the go-to

14 we#makeithappen

source for inspiring stories of Romanian entrepreneur-

BRANDS

ship, Business Review has launched a new campaign

called #makeithappen, through which this magazine presents inspirational entrepreneurial stories of Romanians who have turned passion, hobbies and knowledge into successful businesses. We are sharing tales of entrepreneurial initiatives of all sizes from

28 Brand nostalgia reloaded:

all economic fields, underlining the diversity and creativity of the

the millennials reviving communist brands

local business environment. Regardless of the sectors in which they chose to start their companies, these individuals have demonstrated that success comes

SUSTAINABILITY

with tremendous efforts, clear vision and good planning. Some used technology to embed a high level of added value in their services, while others chose more traditional sectors and tackled a specific market niche. Driven by the ambition to succeed, all the

34 Sunny outlook:

entrepreneurs we present in this issue of Business Review said it

EFdeN Signature puts accent on comfort in Dubai

was innovation that helped them stand out from the crowd. Although some of their businesses are family concerns, while others were set up by individuals or partners, all of them are from a

CITY

generation of entrepreneurs who made things happen regardless of the economic or financial challenges. They confirm once again that the local business environment in general and the entrepreneurial one in particular is highly creative and professional. With greater or lesser financial resources at their disposal, they have managed to move things forward and bring the local economy to the next level. Let’s hear it for the people who #makeithappen!

42 Pitch perfect: up-andcoming musicians dance to Enescu’s tune

45 Film review 46 Cultural calendar

FOUNDING EDITOR: Bill Avery EDITOR-IN-CHIEF: Ioana Erdei DEPUTY EDITORS-IN-CHIEF: Sorin Melenciuc, Ovidiu Posirca, Anda Sebesi JOURNALISTS: Anca Alexe, Aurel Dragan, Georgeta Gheorghe, Romanita Oprea, Oana Vasiliu COPY EDITOR: Debbie Stowe PHOTO EDITOR: Mihai Constantineanu ART DIRECTOR: Raluca Piscu PUBLISHER: Bloc-Notes Media Network ADDRESS: 58 Stirbei Voda Street, 3rd Floor, District 1, Bucharest, Romania LANDLINE: 031.040.09.31 EXECUTIVE DIRECTOR: George Moise BUSINESS DEVELOPMENT DIRECTOR: Oana Molodoi SALES DIRECTOR: Ana-Maria Nedelcu SALES MANAGER: Alexandra Rosca EVENTS DIRECTOR: Alina Moldovan EVENTS MANAGER: Mara Dragoiu MARKETING: Eugenia Pupeza PRODUCTION: Dan Mitroi DISTRIBUTION: Eugen Musat EMAILS: editorial@business-review.ro, sales@business-review.ro, events@business-review.ro

Publicație auditată pe perioada Apr 2015 - Mar 2016

ISSN NO. 1453-729X

www.business-review.eu Business Review | September 2018

6 NEWS

WHO’S NEWS

Groupe Societe Generale. Back in 2006, BT was just a small

BR welcomes information for Who’s News. Submissions may be edited for length and clarity. Get in touch at anca.alexe@business-review.ro

bank with headquarters in Cluj, trying to make its way in the system. The lender grew organically over the years, but changed strategy after it grew big enough and started to buy small competitors. In the first half of the year, BT as a group registered a net profit of RON 865 million, up 67 percent from last year,

Alexandru Ciuncan is the new general manager of the National Union of Insurance and Reinsurance Societies in Romania (UNSAR) as of September 10. He has 17 years of experience in the insurance industry in Romania and in Central and Eastern Europe. A graduate of the Bucharest Academy of Economic Studies, he is the holder of a Professional Certificate in Management (Open University Business School, UK) and is also licensed PMP-Project Management Professional and ACPAgile Certified Professional Diploma (Project Management Institute).

Adrian Stanculescu is the new head of Abris Capital Partners in Bucharest. He is an experienced private equity professional who has been with Abris for almost five years. During his time at Abris, he has been responsible for originating and supervising a number of transactions. He has also played a key role in the development and value enhancement of several portfolio companies. Abris Capital Partners is currently investing its third mid-market fund for Central & Eastern Europe. page 5

ahead of BCR, which posted RON 697 million and BRD, RON BT bought Bancpost from Eurobank in November 2017

741 million. BCR went in the opposite way in the first half

Local banking system sees first Romanian lender at top in decades

of the year, with a decrease in asset value, from RON 70.9 billion to RON 70.2 billion. BT’s asset value took a big jump at the end of the first half of the year compared to the end of 2017, reaching RON 75.3

By Aurel Dragan

billion from RON 59.3 billion, following the inclusion of the

Banca Comerciala Romana

BCR was the largest bank

assets of Bancpost. BT bought

(BCR), controlled by Austrian

by assets in 2006 when it was

Bancpost from Eurobank in No-

Erste Group, has been de-

taken over by Erste Bank for EUR

vember 2017, but the transac-

throned as the leading local

3.75 billion. The Austrian entity

tion was only approved by the

lender by Banca Transilvania

bought 61.88 percent of BCR

banking authorities in March

(BT) after a more than ten-year

shares from the Romanian state

this year and the integration

reign. BT has reached RON 75.3

and had remained leader of the

of the operations was finalized

billion in assets, while BCR

system until now. Over the years,

in the second semester of this

stayed at RON 70.2 billion.

its main competitor was BRD –

year.

Romania has fastest mobile internet in Europe, says Google By Anca Alexe Web pages have the fastest

timeframe recommended by

aspect of going online on their

loading times on mobile de-

Google, of just 3 seconds.

smartphones is having to wait

vices in Romania and Germany,

According to the research,

too long for pages to load. Fur-

both with an average speed

page loading speed is a critical

thermore, over half (53 percent)

of 8.1 seconds, according to

aspect for online smartphone

of mobile visits risk being aban-

a study published by Google.

access. Almost half (46 percent)

doned if the page takes more

However, this loading time

of participants in Google’s study

than three seconds to load.

is still much slower than the

said that the most frustrating

Data gathered by Google

www.business-review.eu Business Review | September 2018

NEWS 7 ability to identify high-growth investment opportunities,” said Robert Manz, CEO of CEE Europe’s Central and Eastern Europe task force and managing partner at CEE private equity firm Enterprise Investors. Private equity fundraising in the market increased 46 percent year-on-year to reach EUR 1.3 billion in 2017, including a record EUR 360 million

International investors are drawn to the region’s attractive economic growth

PE and VC investment in CEE reached EUR 3.5 billion in 2017

for venture capital fundraising. European investors from outside Central and Eastern Europe provided 38 percent of the total capital raised, while global sources of capital outside Europe contributed 26

By Aurel Dragan

percent, driven by US-based CEE’s consumer goods and

investors. Funds-of-funds were

capital investment in Central

services sector attracted the ma-

the leading source of capital at

and Eastern Europe (CEE)

jority of investment capital with

31 percent of the total, followed

reached EUR 3.5 billion in 2017,

three-quarters of the total, while

by government agencies at 26

new data from Invest Europe

technology (ICT) followed with 11

percent. Company exits in CEE

reveal, after a 113 percent year-

percent. Polish companies were

reached a total value of EUR 1.3

on-year increase. This figure

the big draw, receiving 71 percent

billion, measured at historical

surpasses the region’s previous

of the total amount, followed by

investment cost, and the year-

peak in 2008 by 40 percent,

those in Romania, Hungary and

on-year increase of 16 percent

according to the industry as-

Latvia respectively.

and the region’s third highest

Private equity and venture

sociation’s Central and Eastern

“International investors are

annual divestment level. Sec-

Europe Private Equity Statistics

drawn to the region’s attractive

ondary buyouts were the most

2017 report, which also shows

economic growth, strong con-

used exit route with 38 percent

strong results across fundrais-

sumer spending and private eq-

of the total value, followed by

ing and exits.

uity fund managers with proven

trade sales at 29 percent.

Cristian Carstoiu is the new partner in the business support department of EY Romania, the professional services firm. Carstoiu has over 19 years of experience in technology consulting, having focused during the past five years on digital transformation, analytics and customer experience. In the past 11 years, Carstoiu has worked in the Middle East and Africa, managing a portfolio of local and global clients and being responsible for developing and delivering solutions for banks, retail and public services. Mitka Avramova is the new country leader of IBM Romania, moving from her previous position of chief operating officer of the Romanian subsidiary. She will be responsible for all activities that concern Romanian customers, covering the entire portfolio of IBM products and services for the Romanian business. Throughout her career at IBM, Avramova has held positions in sales management, operations and the business partners’ ecosystems company in Bulgaria and Southeast Europe.

shows that Romania and Germany have the best performance among European countries in terms of how long it takes for pages to load on mobile devices, with an 8.1 second average, while the average speed in Poland, Italy and Sweden exceeds 9 seconds. The fastest websites in Romania were those in technology and retail, with average loading speeds between 7.9 and 8.3 seconds, while education and public institutions had the slowest websites.

Gabriela Dinu is the new managing associate of the employment practice of law firm NNDKP. With over 15 years of professional experience, she specializes in employment legislation and employment relations. Before joining the NNDKP team, Dinu was a senior associate in the law firm Tuca, Zbarcea si Asociatii, where she handled various projects in fields such as employment law, commercial law and dispute resolution.

www.business-review.eu Business Review | September 2018

8 REAL ESTATE

Bucharest office market towers over property sector

Sky Tower is the tallest office building in Bucharest

The Bucharest office market includes over 120 class A buildings with 2.85 million sqm in leasable surface, in which developers have invested around EUR 3.5 billion, approximately EUR 1,228/sqm. By Razvan Zamfir

office market started in early 2000

provements, the submarkets that offer good

for the whole of 2017 and this demand will

with Opera 1 and 2, developed by

public transportation (central areas, center-

continue to flow in as Romania follows global

Portland Trust and acquired by CA Immo,

west and Floreasca/Barbu-Vacarescu) are

trends,” said Mihai Patrulescu, senior associ-

plus Europe House owned by Europolis, now

likely to remain the most attractive. Periph-

ate in the investment department of Colliers

part of the same CA Immo.

eral northern areas outside Bucharest will be

International.

he history of the modern Bucharest

Given the slow pace of infrastructure im-

this sector is already double the level we saw

But the market has evolved rapidly and

out of reach for the time being, while a new

now appears to be the most solid component

metro line in the south-west of town could

BUCHAREST OFFICE MARKET BREAKDOWN

of the Bucharest real estate market.

open up new office submarkets.

At present there are over 120 class A office

However, even if it seems secure, the

“Over a quarter of total take-up of modern

buildings in Bucharest, for which the neces-

sector has its issues. The strains on the labor

office space was generated by the IT&C sector,

sary investment is evaluated by Colliers

market will test highly ambitious develop-

which was closely followed by companies

International al EUR 3.5 billion.

ers’ plans of over 650,000 sqm announced

from the energy and industrial sector (over 25

for 2019 and 2020 on the Bucharest office

percent of gross take-up). Co-working compa-

market, as tenants compete with the state

nies also rented a record 16,800 sqm, with the

THE TALLEST SKY TOWER – 137 METERS

for employees and wrestle with an ultra-low

biggest surfaces coming from two big entries

Located in the Floreasca area and owned

unemployment rate (a touch over 2 percent

on the domestic market – Mindspace (12,000

by Raiffeisen, the building was finished in

for white-collar workers).

sqm) and Spaces (3,000 sqm). Demand from

2012 after a EUR 120 million investment. At

www.business-review.eu May 2016 2018 Business Review | September

COVER REALSTORY ESTATE14 9

37 floors and 137 meters it has redefined the skyline of Bucharest in the last six years. Gross building area is 50,400 sqm with a leasable area of 40,450 sqm. Leasable space per floor is close to 1,160 sqm. Sky Tower has an underground car park with 518 spaces and 23 exterior parking spaces.

GLOBALWORTH TOWER – 120 METERS The neighbor-building of Sky Tower, Globalworth Tower, named after its developer, is 120 meters high and only two years old. The building, which has 55,000 sqm of gross leasable area and around 45,000 sqm

Oregon Park was sold for EUR 180 million this year

of leasable area, required an investment of around EUR 60 million and offers 638 parking spaces. Located within a minute’s walk of Promenada Mall, the block is served by public transportation: subway, tram and buses.

BUCHAREST TOWER CENTER – 107 METERS

The last of the 15,000 sqm buildings ap-

Estate. Six years later, in 2014, Globalworth

peared on the market in 2013, and the project

bought back the office buildings from Up-

still has space for expansion.

ground for EUR 152 million.

West Gate has 1,200 parking spaces and the largest amount of green areas on the market so far, at 15,000 sqm. The rental rate is

THE BRIDGE OFFICE PROJECT – EUR 200 MILLION

96 percent.

After DIY retailer Dedeman tried to buy the AFI Park office buildings located near AFI Co-

Developed close to Piata Victoriei, Bucharest Tower Center has 26 over-ground levels and

HERMES BUSINESS CAMPUS – 75,000 SQM

troceni mall last year in a failed transaction,

3 underground levels, with a total area of

Developed in phases by Belgian developer

this year the retail giant, which had more than

31,000 sqm.

Atenor, Hermes Business Park is also located

EUR 1 billion in sales in 2017, finally took over

in the Pipera area.

The Bridge offices from local developer Forte

The building is owned by Globalworth Real Estate, which has in its portfolio two of the

The office project is now home to 30 ten-

Partners.

ants, being anchored by renowned, interna-

The Bridge project, comprising three

tional companies such as Genpact (a global

phases and approximately 80,000 sqm, will

leader in business process operations), Luxoft

be taken over by the Dedeman group. The

(leading software outsourcing supplier),

first phase was rented to tenants including

THE LARGEST IRIDE BUSINESS PARK – AROUND 93,000 SQM

DB Schenker (European market leader in

BCR and IBM, the second phase is under

transportation), Idea Bank (financial services

construction and has been pre-leased to UPC,

provider), and Lavalin (world leader in engi-

Schlumberger and Medicover, and the third

Owned by Austrian investor and developer

neering and construction services)

phase is in the preparatory stage.

tallest buildings in Bucharest. The tower’s initial design provided 21 floors in height and 3 in the basement.

Immofinanz, Iride Business Park is in Pipera and includes more than 20 office buildings.

In around 18 months to two years, growing projects like Globalworth Campus (87,000 sqm) and Campus 6 (81,000 sqm) developed

OREGON PARK OFFICE PROJECT – AROUND EUR 180 MILLION

acquired Iride in 2004, paying about EUR 65

by Globalworth in Pipera and Skanska in the

Lion’s Head Investments investment com-

million for the project, which involved some

western side of Bucharest, will rise up the

pany made its entry onto the local property

35,000 sqm of office space and 20,000 sqm of

rankings.

market with the acquisition of the Oregon

Immoeast, a former entity of Immofinanz,

warehouses at that time. In the long run, the company intends to

Park office project, owned by Portland Trust

THE LARGEST TRANSACTIONS INVOLVING OFFICE PROJECTS UPGROUND PIPERA OFFICE RESIDENTIAL MIX – EUR 340 MILLION

and Ares Management and located in north-

WEST GATE – 75,000 SQM

The most important transaction on the

quisition of the first two buildings already

West Gate, developed by Romanian investor

Bucharest office market was an unusual one,

completed in Oregon Park, A and B, as well as

Genesis Development, owned by business-

only partly finished, back in 2008, when

Building C, under construction. At present,

man Liviu Tudor, had its first building deliv-

RREEF, an investment vehicle of Deutsche

buildings A and B are leased to international

ered in 2007, and the first tenant was Dacia

Bank, acquired the project from Ioannis

companies such as Oracle, Deloitte, Euler

Renault (which is still there).

Papalekas, the founder of Globalworth Real

Hermes and Kepler Alten.

extend Iride to 200,000 sqm, part of a project which will be named Iride City.

ern Bucharest. The project consists of three Class A office buildings. The transaction includes both the ac-

www.business-review.eu Business Review | September 2018

10 REAL ESTATE

2018 housing market outlook cool By Razvan Zamfir

The Romanian residential market seems to have stumbled in 2018. Even if at first sight things seem okay, as you get closer, cracks appear. The volume of residential construction works fell by 24.8 percent in H1, according to the INS, the ROBOR is above 3 percent from less than 1 percent last year, and even demand is down 5 percent, imobiliare.ro said.

Bucharest is the largest and most important residential submarket in Romania

t might not be a crisis like in 2007-2008,

lending field: while last year many Roma-

overheated in some areas, especially in Cluj-

but pundits predict a shock. There have

nians rushed to access Prima Casa loans, in

Napoca. “Under current market conditions,

been mixed signals. If the number of

the first half of the year, due to limited funds,

we expect young people and first-time buyers

delivered homes drops, because of a lack of

and the sustained growth of the ROBOR

to suffer most from the rising credit condi-

workforce, in theory, the strong demand will

index, some potential buyers preferred to

tions and declining supply of residential prop-

cause an increase in prices. But demand has

postpone the purchase decision,” said Adrian

erty. Some potential buyers will postpone

slowed, largely because the increased ROBOR

Erimescu, CEO of imobiliare.ro.

their decision and rent instead of buying – the more so as purchase prices have so far grown

level has raised the cost of repayments. Demand for homes is lower than last year in

DEMAND VERSUS SUPPLY

faster than rents in both Bucharest and the

Constanta (-15 percent), Bucharest (-8 per-

Falling demand is not expected to completely

other big cities. Meanwhile, some owners will

cent) and Brasov (-4 percent).

offset the drop in the number of homes deliv-

decide to withdraw from the sale and lease of

ered on the market, but it will have a buffer

properties,” said Dorel Nita, head of data and

effect and cool the market, which has become

research at Imobiliare.ro.

“These decreases can be attributed to the increased influence of what happens in the

www.business-review.eu Business Review | September 2018

12 REAL ESTATE

A tale of five cities

BUCHAREST

CLUJ-NAPOCA

TIMISOARA

CONSTANTA

IASI

The capital is the largest and most important residential submarket in Romania with more than 900,000 homes. In the second quarter of 2018, 318 medium and large residential projects were on the market in Bucharest, of which 217 were under construction, while the remaining 101 were already completed. Overall, the number of homes due to be built within these schemes reaches almost 57,000. The average asking price in Bucharest in the first semester was EUR 1,280/sqm, an increase of 2.2 percent in the last three months and 4.4 percent in the last 12 months. The average rent for a two-room apartment was EUR 350/month.

The north-western city is the second largest submarket in the country, with more than 300,000 homes.According to imobiliare.ro, in Q2 2018, demand in Cluj stood at 13,700 homes, while 2,610 units were for sale and 2,660 for rent. Around 2,000 new units were built in the first quarter of the year. In total, the Cluj-Napoca market includes 147 residential projects, 80 under construction, and 67 completed. The average asking price in Cluj-Napoca in the first semester was EUR 1,510/sqm, an increase of 1.9 percent in the last three months and 14.1 percent in the last 12 months. The average rent for a two-room apartment was EUR 390/ month.

The third biggest market in Romania is Timisoara with around 270,000 homes. According to imobiliare. ro, in Q2 2018, demand in Timisoara stood at 16,500 homes, with 2,070 units for sale and 2,230 for rent. According to official data, around 1,300 new residential units were built in the city in the first quarter of the year. In total, the Timisoara market includes 145 projects, 86 under construction and 59 completed. The average asking price in Timisoara in the first semester was EUR 1,170/sqm, an increase of 2.4 percent in the last three months and 8.9 percent in the last 12 months. Average rent for a two-room apartment was EUR 300/month.

In 2017 Constanta became the third largest regional residential market in Romania, in terms of delivered units, with more than 3,000 new homes, according to INS data. In the first semester around 1,100 residential units were delivered in the city. The average asking price of apartments for sale in Constanta appreciated by 0.8 percent in June (from EUR 1,147 to EUR 1,156 per sqm), 5.6 percent higher than the figure recorded by imobiliare.ro in January. The average rent of a two-room apartment was EUR 250/ month. In the first half of the year, 12,905 properties were sold in Constanta, according to ANCPI data.

The residential submarket of Moldova’s biggest city contains around 280,000 homes. The imobiliare.ro index recorded a decrease of 0.8 percent in asking prices in June (from EUR 1,015 to EUR 1,007 per sqm), which marked a 3.4 percent advance against the beginning of the year (compared to EUR 974 per sqm in January). The average rent for a tworoom apartment was EUR 300/month. In the first semester around 1,200 residential units were delivered in Iasi.

Source: Imobiliare.ro

FEPRA International joins World Cleanup Day, coordinated locally by Let’s Do It, Romania! FEPRA International, a company specialized

will be able to choose the areas they want to

International. The Let’s Do It, World! move-

in the takeover of waste management re-

clean up through the World Cleanup app.

ment, the coordinator of the World Cleanup

sponsibility placed on the Romanian market

“Considering the pressing need for Romania

Day event, started out in 2008, when Estonia

by producers and importers, will this fall

to increase its recycling rates to 50 percent by

organized the first World Cleanup Day and

join the largest global campaign of cleaning

2020, as well as our moral duty to carry out,

managed to mobilize 50,000 volunteers in a

up areas polluted by waste.

strengthen or support any action related to pro-

single day. Romania has been a part of the

tecting natural resources and hence changing

international Let’s Do It, World! network

5 percent of the world’s population to enact

the paradigm when we talk about our respon-

ever since the beginning, and was the fourth

a real change in our attitudes towards

sibility towards the environment, we find it is a

country to organize a national cleanup

resources and the waste we generate. In

good time for us to join other large companies

action. The community has developed over

our country, Let’s Do It, Romania! aims to

in Romania that support this campaign, which

the past 10 years and today includes 150

mobilize 1 million volunteers. Registrations

brings added value to the above-mentioned ele-

countries that are either experienced or will

for World Cleanup Day are open on www.

ments,” said Roxana Sunica, Director of Market-

organize a World Cleanup Day for the first

letsdoitromania.ro, and those who register

ing, Communication and Public Affairs at FEPRA

time in 2018.

World Cleanup Day’s goal is to mobilize

14 COVER STORY

www.business-review.eu Business Review | September 2018

we #makeithappen By BR Team

Photo: Dreamstime

Business Review has recently launched a new campaign called #makeithappen, to strengthen its commitment to being the go-to source of inspiring stories of local entrepreneurship. We hereby present a collection of tales of Romanians who turned passion, hobbies and knowledge into successful businesses. This is about the stories of entrepreneurial initiatives of all sizes in all economic fields, underlining the diversity and creativity of the local business environment.

www.business-review.eu Business Review | September 2018

COVER STORY 15

www.business-review.eu Business Review | September 2018

16 COVER STORY

A&A Vesa

Sun Team Deco Art

started out with just two employees and sold its first furs at local

markets. Today, A&A Vesa has four physical stores – in Arad, Bucha-

Art in her hometown of Hunedoara.

&A Vesa is a fur coat manufacturing company based in Arad County. Founded by Gheorghe Vasile Vesa in 1994 after he spent two years as an apprentice in this field, the firm

rest, Constanta, and Galati – and two online ones. “Manufacturing fur products is a tradition in the Sebis area of

alentina Cristea (42), an art school graduate, is the living proof that artists and business go hand in hand. In 2013, after having worked for different companies in arts-related

fields, along with her husband Ion (45), she started Sun Team Deco Their initial investment was only RON 1,000. Today she makes highly customized stained glass, hand decorated lamps and other

Arad County,” says Andrei Vesa, the founder’s son. A&A Vesa is a

glass objects for individuals and businesses, mixing with ease small

family business: while his father manages the company, Andrei

projects for private homes with large-scale ones designed for public

does the marketing, his mother oversees design and production

spaces. “We were supported by the SRL-D program. We made a

and his sister does the accounting. “The factory has its own tannery

customized work table, we rented a small space where we started

with a capacity of 500 fur skins per day, allowing us to make about

production and could receive the first clients. Then, we kept on re-

300 coats each month.” The company sells several types of animal

investing the profits,” says Cristea. At the same time, she continued

furs, primarily lamb, fox, and mink, but never uses the fur of endan-

to hone her skills and learned the Tiffany technique. “I also diversi-

gered species. “Back in 1994, the focus was on quantity, not quality.

fied the range of products and services offered, and started selling

Today, product quality and fashionable designs are much more im-

lighting and customized glass objects,” she says. For the moment

portant,” Andrei says. “We purchase lamb furskins from Romania,

Valentina makes everything herself using materials she sources

specifically from Constanta, Teleorman and Arad counties, while

from the UK and from online shops, especially from Timisoara and

polar fox fur comes from the Nordic countries,” he adds.

Bucharest, but she is planning to expand the team and buy an oven

The furs are processed and manufactured in a factory in Buteni,

for fusion glass. Currently, Sun Team Deco Art has two companies

Arad County. The company makes fur coats and vests for both men

among its clients and selling its products abroad is just a matter of

and women, as well as accessories (scarves, gloves, slippers, hats,

time. “Most of our clients are individuals who appreciate our prod-

bags) and decorative items. “Our clients are generally over 17 years

ucts and services,” she says. “But we are currently negotiating with

old and have medium to high incomes,” Andrei says.

a prospective client based in the Netherlands.”

www.business-review.eu Business Review | September 2018

Bilka

COVER STORY 17

Butoaie.ro

despite being straightforward. Horatiu got his first professional

job in 2004, when he graduated from the Faculty of Engineering in

successful business. When things got tough during the crisis, he

Sibiu, aged 24. One year later he decided to go it alone and, with the

found an imaginative way to revive the business by starting to make

creation of Bilka, became a fully-fledged entrepreneur. The initial

furniture that caught the eye of foreign suppliers. He even managed

investment was EUR 400,000, which came from his own funds and

to convince Scottish whisky makers his products were good enough

earnings over 2004-2007. The economic crisis was one of the most

for their drinks.

tarted in 2007 by first-time entrepreneur Horatiu Tepes (37), Bilka, the leader of the local roof market is the story of a home-grown company whose success did not come easy,

difficult moments, but the company got through it by taking a proac-

icolae Rizea (42) joined his family barrel-making business when he was a little boy, learning alongside his father. As an adult, even though he chose a different career, teach-

ing, he came back to his family roots and turned tradition into a

“I entered this business because I am already part of the third

tive stance. “Bilka was created in 2007, during the economic boom,

generation making barrels. Born and raised in ‘sawdust’, I studied

and developed during the full-blown crisis. We overcame the crisis

and I became a school master. In 2004 I decided to turn the business

because we diversified the range of products and came up with new

into something bigger. I gave up teaching to dedicate myself to this

services, closer to clients. Overall, I believe that the best entrepre-

small family business because I really love a challenge,” says Rizea.

neurship school for me was from 2009-2011, when the company

Faced with a tough period, the barrel maker decided to add to his

was in its first years and the crisis took us by surprise,” he adds. The

portfolio other products, such as furniture made out of barrels. “In

company’s sustained advance is mainly due to expansion and in-

2006 and 2007 barrel sales dropped. That is when I thought about

vestment, which reached a total of EUR 30 mln over the last 11 years,

doing something different and I started to cut the barrels I hadn’t

the most recent investment being made last year in the acquisition

managed to sell and to use their tops for decorations. This is how I

of the industrial platform Hidromecanica 2 Brasov, an investment of

ended up making partnerships with wineries,” he explains.

EUR 5.56 mln. One of the most important projects for the company

“Currently, we make 100 barrels [D1] with a capacity of 225 litres

is currently the investment plan that it launched last year, which will

and we could double that. We are the only barrel makers in Europe

run until 2020. The project value amounts to EUR 20 mln, which will

who make 10,000 liter barrels,” he says. The company’s turnover

mostly go on the development of industrial products.

does not exceed RON 300,000 annually.

www.business-review.eu Business Review | September 2018

18 COVER STORY

CareToPets

laudia Goga (30), of Targu Mures, expanded her success as an entrepreneur and combined it with her love for pets to build a business that has spread to multiple cities and will

Komoder

drian Rus (32) started Komoder in 2011 and has turned his company into a market leader for massage chairs. But this wasn’t his first entrepreneurial endeavor. He had been man-

soon go international. CareToPets is a website where pet owners

aging his own creation agency, Braintuitive, for five years when one

can find someone trustworthy to take care of their beloved animals

day he decided that a massage chair market had potential. The initial

while they are away, without having to rely on friends or family. The

investment in the company was EUR 150,000 and the entrepreneur

platform also offers a cheaper and more personalized alternative to

worked for a bank for five years to support the growth.

the uncomfortable and often expensive pet hotels. Claudia started the platform on her own in 2017, after several

Fast forward to 2017, and the company grew its turnover to EUR 2 million and sold over 2,500 massage chairs. This year, Adrian

other attempts at entrepreneurship that hadn’t worked out, but had

expects to increase the turnover by another EUR 1 million. Komoder

taught her important lessons for the future. She says she has loved

operates its own network of stores in several Romanian cities (Cluj-

animals since she was very little: “If you asked me what superpower

Napoca, Bucharest, Iasi, Timisoara), but also abroad in Bulgaria,

I wish I had, it would be the ability to communicate with animals,”

Spain and Italy. He has a team of 13 employees in Romania and the

she says. The platform currently has almost 200 verified pet sitters in

offices have an international feeling due to the various languages

several large cities in Romania, notably Bucharest, Cluj and Iasi, and

spoken there. Adrian says his management style aims to support

the entrepreneur says she is looking to find more in Timisoara, Sibiu

and enable his employees. “I want to give confidence to my employ-

and Constanta. “We have recently purchased the Hungarian pet sit-

ees. I tell someone to do a delivery, a design, a banner. I leave them

ting platform DogSurf, so we’re planning a re-launch in Hungary in a

the freedom of creativity and this makes them more confident,” he

few months as well,” she reveals. There are several types of services

explains. Komoder has its own fleet of delivery vehicles while the

pet owners can find through the platform: hosting the cats and dog

chairs it sells are manufactured in Japan, China and Taiwan, based

in the comfort of the pet sitter’s own home, walking dogs up to three

on Adrian’s recommendations. The massage chairs currently have

times a day, and providing a “pet kindergarten”, which is similar to

USB and Bluetooth connection, alongside Wi-Fi remote controls and

boarding them in the pet sitter’s home, but only during the daytime.

smartphone apps.

www.business-review.eu Business Review | September 2018

F Haus

uliu Follert (51) founded F Haus in 1992 in Satu Mare shortly after graduating from the Faculty of Constructions in Timisoara, with a specialization in installations.

The firm provides general entrepreneurship for construction, ex-

COVER STORY 19

Scienceroot

cienceroot is a start-up founded by two Romanians aiming to create a global scientific ecosystem that helps researchers find funds and promote their work, while increasing the pace

at which quality research is done across the world. The start-up was

terior works, mechanical and electrical installations. It also makes its

launched in October by 2017 by two Romanians in Timisoara: Alex-

own tubing for ventilation and other parts for metallic structures and

andru Chirita and Vlad Gunther, both aged 27.

installations. The entrepreneur says that the initial investment in the

“Our goal is to create a blockchain-based scientific ecosystem

company was “insignificant from a financial perspective, but it was

that combines all the requirements of a researcher. Having every-

huge from the work and stress perspective”. The hard work paid off.

thing in one place and not spread out across different platforms is

From two employees in 1991 the company reached 85 this year and

time-saving and efficient. Not only the quality, but also the pace at

the business is further growing so will require another 20-30 people.

which scientific content is produced will rise. Blockchain provides us

In terms of turnover, his plan is to exceed last year’s value of EUR 3

with an immutable database that can store a chain of events, which

million. The total investment in the company so far has reached EUR

is perfect when it comes to documenting science. Nobody can alter,

2 million and the entrepreneur also tapped EUR 750,000 worth of

delete or modify this database,” says Vlad, CEO & co-founder of

EU funds for development. Some of the largest projects in which F

Scienceroot. In less than one year, the start-up increased its number

Haus has been involved are located in Satu Mare, Maramures, Bihor

of team members to nine and welcomed on board a team of top sci-

and Cluj counties, while abroad the firm has worked in Germany and

entific advisors from Romania, Western Europe, the US and Asia. Up

Hungary. The customers come from various industries, including re-

to now, over USD 20,000 has been invested in the start-up alongside

tail, hotels and manufacturing. F Haus also carries out maintenance

the “countless hours of work invested by our team members during

and repair works. In Germany, the company handled the thermo

the last year.” The start-up was getting ready to launch its Initial

and waterproofing installations for apartment blocks in one project

Coin Offering in mid-July. Initially, Scienceroot will sell 12.5 million

and was also assigned a general entrepreneurship contract for the

science tokens for EUR 0.04, aiming to raise the equivalent of EUR

repartitioning of offices.

500,000. Three more token sales will take place by 2020.

www.business-review.eu Business Review | September 2018

20 COVER STORY

Complice.ro

Berero

for a change, she left behind the well-known path and found herself

looking for the answer to a binary question: Should she leave the

years ago. “At that time there were only three or four craft beer

country and start again elsewhere or revive an old business idea?

manufacturers in Romania and we wanted to try out their beers, but

or Oana Pascu (38), an economics graduate who had a 15-year career working for Connex and later Vodafone, the future could have been predictable. Instead, as she felt the need

She pondered the idea for a few months, then, after a EUR 5,000

oan Mitroi, a young software developer, decided to open an online store, Berero, to bring together all the craft beer brands in Romania, after he and his friends discovered that these types of

beers were very hard to come by. The Berero journey started three

we had no idea where to buy them,” he says. Ioan started and man-

initial investment, three years ago she chose to become an entre-

aged the business while keeping his day job in IT, together with two

preneur and make her business idea a reality: setting up an online

others who worked in the same field.

gift shop that sells not objects, but customised experiences. Having

“Most of our promotion is done through social media. We have

already had a hand in organizing more than 100 gifts that include the

had organic growth, based on word of mouth, and we’re still relying

experience of creating your own perfume, flying in a flight simulator,

on a client base that we can honestly call a community,” says Mitroi.

and playing a game of tennis against Romanian former tennis player

Berero had a turnover of almost EUR 80,000 in 2017, and the

Victor Hanescu, the entrepreneur achieved a EUR 20,000 turnover

company is aiming for over EUR 100,000 for this year. Its plans

last year and is expecting it to double this year. Furthermore, she is

include a bigger team and more warehousing space, setting up more

planning a future national and potentially international expansion.

collection points in Bucharest and, most importantly, expanding

The initial investment stood at EUR 5,000 but, once the business

outside the country by opening a standalone warehouse in other big

grew, both investments and the team expanded. “Since the launch,

European cities. “We’re also thinking of a concept store, but that’s

though, there has been a continuous investment in marketing and

another type of business and we would need an investor.”

raising awareness, because we are a start-up, operating on a market

Unlike other Romanian entrepreneurs who have raised points

niche.” A special section of the portfolio includes experiences involv-

about the bureaucracy or tax-related issues their businesses face,

ing well-known Romanian athletes. “Victor Hanescu was the first

Ioan says his simple business model hasn’t had too many problems

celebrity who agreed to be our accomplice and then we enlarged the

of this nature. “Our relationship with the state is a normal one – our

portfolio with the gymnast Marian Dragulescu, Andrei Rosu, Alex

accountant tells us about the latest legislation, calculates our taxes

Filip and Alex Ciocan.”

and we comply. For us, things are relatively simple,” he says.

www.business-review.eu Business Review | September 2018

COVER STORY 21

Caprina

Vegis.ro

career, after the fall of communism, Bucharest-born Iulian Micu (65)

took advantage of the changing context and set out to become an

six years ago. Together with his wife Catalina (34), whose passion for

entrepreneur. After owning, alone or in a partnership, businesses

and desire to work with organic products inspired the decision, he

in the fields of transport and commerce, tailoring, printing and car-

started an online business selling organic food. The firm started with

pentry, in 2008 he joined his son Stefan, who was 25 at the time, and

an initial investment of EUR 5,000, an 80 sqm space, two comput-

set up a goat farm. Located in Buzau County, today the farm has 700

ers and 1,000 products. In addition, throughout the first year of

goats and last year posted a RON 755,000 turnover. They started off

operations, more investment went into replenishing the stock and

with EUR 40,000 in capital. Between 2015 and 2017, Caprina moved

advertising, which required an extra EUR 20,000. After the first year,

from Giurgiu to Buzau County, into a new farm with state-of-the art

the business started bringing enough revenue to support itself and

facilities. The portfolio of products sold under the Caprina brand

has kept on growing. In 2017 Vegis.ro posted a 32 percent turnover

includes: raw milk, fresh cheese, mature cheese, sweet homemade

increase to EUR 1.88 million and strengthened its position as the

cheese, sweet cheese (urda), cream, butter, spreads, and whey

leader of the online healthy, organic, vegan and natural supplements

protein. Alongside this, they sell products from other farms. “The

market. For this year, the company forecasts a double-digit increase.

products of other farmers we work with are very diverse, so we try

“We expect to grow by at least 30 percent year-on-year,” Mihai says.

family business, Caprina employs a staff of ten and has at its core a father and son team. After working with the stateowned telecommunication company for a large part of his

to cover a weekly basket for a family who wants to eat healthily.

omania’s biggest organic food website, Vegis.ro, is a family business. Having already developed the website Libris.ro, one of the biggest online book shops in the country, Mihai

Bucuroiu (37) jumped at the opportunity to become an entrepreneur

According to the entrepreneur, his company’s growth potential is

We have fruit from the orchard, apples, apricots, cherries, plums,

tied to the future expansion of the local organic products market and

cranberries, raspberries, blackberries, bakery products, traditional

to the ever increasing popularity of online shopping. “The growth of

meat from the renowned Plescoi, poultry, farmed eggs, ‘zacusca’ and

Romania’s organic products market is an opportunity we will be able

jams.” Their clients are mainly urbanites aged 27 to 70, and include

to capitalise on. Plus the share of internet users who shop online is

a large number of families with at least one young child, with an

still below the market level, but with a growth forecast.”

interest in having a healthy and active life, higher education, and medium to high income.

The company’s biggest investment went towards its new EUR 600,000 warehouse, located in a central area of Brasov.

www.business-review.eu Business Review | September 2018

22 COVER STORY

Bicicleta cu Lavanda

Xcursii.ro

after learning about its many uses in the health and beauty industry.

turn her passion for travel into a business, Xcursii.ro. “I like travel-

In late 2017, they went from simply growing the plant to manu-

ing and I’ve done it as much as I could,” she says.

icicleta cu Lavanda is a business owned by Cristian and Alexandra Crisan, a couple in their early thirties from Cluj-Napoca, who decided to start growing lavender as a business,

facturing natural cosmetic products under the name “Bicicleta cu

ndreea Neagu (33) set up a travel business to put to good use the skills she had honed while organizing trips for friends. Last year, she decided to take a leap of faith and

The business is self-funded. “It was not a big investment,” Neagu

Lavanda”, motivated by the birth of their daughters and the desire

says. “I first created a Facebook page and the money came from my

to keep them away from the toxic chemicals used in most products

salary. There was a need to pay for advertising, transport advances,

on the market. The entrepreneurs both had relevant experience that

and then accommodation for the photographer, the website and

allowed them to make the right moves in their business: Alexandra

other costs related to the presentation,” she says. “Much of what

had worked at GSK in merchandising and sales to large stores, while

I made at the beginning was reinvested,” she says of her business

Cristian had studied management and worked as a distributor of

strategy. According to Neagu, the best thing about having a travel

professional products to beauty salons for almost 10 years.

business is the fact that you get to travel more often.

“We reach about 40 percent of our customers through online

Most customers find Xcursii via the internet, mainly Facebook

marketing, while the rest of the products get locally distributed

and the website www.xcursii.ro, but also via acquaintances and

through several partner beauty salons in Cluj, Salaj, Bihor, and

friends. So far, the company has had private clients but in the future

Mures.” Products can also reach customers in the rest of the country

it will also target corporate clients. “We have recently also signed up

by courier, so it’s already a national business, and soon they plan to

with a travel agency in Madrid. And we hope to bring visitors from

start selling on the European market as well. The products are based

there who want to discover Romania,” she says.

on lavender flowers, essential oil and lavender water. Alexandra and Cristian are working on plans for the future of the

Neagu’s future plans for her young business are big. “I plan to increase my team and check the map for as many destinations as

business. “We’re still in our first year with cosmetic products, so

possible. We still have some news to roll out in 2018 and 2019 but

there’s plenty of room for expansion,” Cristian outlines.

you need to follow our activity to find out,” she says.

www.business-review.eu Business Review | September 2018

PARTNER CONTENT 23

Romania, a strategic international production, research and development hub for Italian luxury fashion giant Moncler

MONCLER OPERATES IN BACAU ITS

finalized in March 2016. In fact, Moncler is one

tract young talent, as well as motivate them

ONLY PRODUCTION FACILITY OUTSIDE

of the few foreign companies in the industry

to become skilled professionals by working

ITALY, WHILE APPROXIMATELY 20% OF THE

that made the decision to operate their own

in a top factory in the fashion field.

GROUP’S GLOBAL PRODUCTION IS “MADE IN

factory locally. The investment plan and vote of

ROMANIA”.

confidence are overall layered by a long-term

manufacturing, with the most active produc-

sustainable business strategy, as the Group

ing area in the country being in Moldova

aims to create a strong industrial platform in

region, between Iași and Bacău. After the

the country and make Romania an international

1990s, the Romanian textile industry has re-

production, research and development hub for

defined its identity as a first-class assembler

down jackets.

and became competitive and recognized

Romania has a long tradition in clothing

Currently, approximately 20% of Moncler’s

globally. The demand comes from big fash-

global production is manufactured in the Bacau

ion players from Italy, Great Britain, Spain,

factory, with the Group targeting to make its

Germany or France.

facility in Bacau one of the most technologically developed clothing factories in Europe.

Moncler was founded at Monestier-deClermont, Grenoble, France, in 1952, and is

In order to support its ambitious plans,

currently headquartered in Italy. In 2003, the

Moncler has invested heavily, approximately

Italian businessman Remo Ruffini took over

45% of the total amount being directed towards

the company, of which he is currently Chair-

In 2017, around 200,000 luxury down jackets

upgrading technological equipment and

man and CEO. Moncler manufactures and

were produced in a state-of-the-art factory

improving safety measures, compliant with all

directly distributes the clothing and acces-

in Bacau by approximately 900 Romanian

emergency situations standards (ISU). Further-

sories collections under the brand Moncler

skilled workers. The “Made in Romania” jack-

more, in order to boost the skilled workforce’s

through its boutiques and in exclusive inter-

ets are sold all over the world from Shanghai

potential and ensure the best quality down

national department stores and multi-brand

to Paris, from New York to Dubai. The facility

jackets globally,

outlets. As of the end of June 2018, Moncler

in Bacau is operated by Italian fashion giant

Moncler organizes training programs for em-

has 209 directly-operated stores (DOS) all

Moncler, through its local subsidiary

ployees in Bacau, with instructors flying in from

Industries Yield, and it is the Group’s only

Milan. As part of its strong commitment to the

own production center outside Italy.

local market, Moncler also offers opportunities

EUR 1.19 billion in 2017, while in Romania,

to the young generation and receives interns

the company’s subsidiary, Industries Yield,

from local high schools in Bacau, aiming to at-

registered revenues of EUR 12.1 million.

The process of establishing their very own manufacturing unit in Romania was

over the world. Moncler’s consolidated revenues reached

www.business-review.eu Business Review | September 2018

24 START-UPS

Start-up accelerators gain ground The start-up ecosystem in Romania is beginning to see a growing number of accelerator programs which can help entrepreneurs get their products and services on the market faster. Early stage companies accepted into accelerators might get more visibility in the eye of investors, but this doesn’t mean that it will be easier to get financing, say industry players. By Ovidiu Posirca

Accelerators could help start-ups get more visibility in the investment community

backers banks, venture capital funds,

HOW TO GET THE MOST FROM THE ACCELERATOR EXPERIENCE

corporations, universities and co-

Accelerators can help start-ups with a frame-

working hubs. This can represent a significant

work that converts a business idea into an

celerator, which targets companies in the

opportunity for individuals just starting a

early stage company and eventually to seek a

minimum viable product (MVP) phase in

business and looking to create a network of

financing round, says Inti Paolucci, partner at

the technology sector. With headquarters in

contacts and receive advice from seasoned

venture capital fund GapMinder.

Bucharest and Cluj-Napoca, this is the first

ocal accelerator programs have as

entrepreneurs with a strong track record.

“While no accelerator can ensure start-ups

investment vehicles have a distinctive advantage in accessing financing,” Paolucci told BR. GapMinder backs the accelerator Tech-

accelerator in Romania allocating funds to

have success, they have the means and the

the development of companies in the pre (ac-

part in accelerator programs in the past few

expertise to provide substantial support to

celeration) phase.

years, aimed at both local and international

move forward. Start-ups enrolled in accelera-

entrepreneurs.

tor programs backed by VC funds or other

Hundreds of local start-ups have taken

The selected start-ups will benefit from a first investment round of EUR 25,000 from

www.business-review.eu Business Review | September 2018

the GapMinder fund, in exchange for a 6 percent stake in the company. The fund said that

START-UPS 25

ment by a Romanian bank. “Along the way, besides helping with fun-

Elsewhere, co-working space operator Impact Hub Bucharest and Pepsi, the soft drinks

start-ups that perform well have the chance

draising, we provided support with growing

maker, launched an acceleration program

to be invited for a second round of invest-

the team, operations, product, go-to-market,

for entrepreneurs in the recycling business.

ment of up to EUR 75,000, convertible into

strategy, and other areas. Maintaining this

Start-ups accepted into the program can get

shares. The program aims to back start-ups

level of support for our portfolio companies

EUR 50,000 financing and six months of

in IT and software, cyber security, artificial

requires us to be selective with the start-ups

exclusive support.

intelligence (AI) and machine learning (ML),

we work with,” said Austin.

digital transformation, IT solutions for the

Meanwhile, in Cluj-Napoca, Spherik Ac-

“The Romanian start-up ecosystem is currently experiencing an increasing number of

health sector, and FinTech, including projects

celerator has enrolled over 36 start-ups since

accelerator cohorts. For entrepreneurs, it is

on blockchain.

2013 in the areas of big data, eHealth, 3D

a positive signal. A consolidation is never-

printing, adtech, and legal tech. This year,

theless to be expected in the medium term,

ness, a boutique, operational VC fund, the

Spherik switched from a rolling basis to an

entailing fewer actors but larger and with

challenge of the local start-up ecosystem is

on-going acceleration system and launched

nationwide infrastructure and capabilities,”

the “unqualified and generic mentoring”.

a new program in partnership with KPMG

said Paolucci of GapMinder.

For Jennifer Austin, partner at Risky Busi-

“Mentoring overload seems to happen a

Romania, the professional services firm.

lot, where start-ups are getting told dozens

Through this move, Spherik Accelerator aims

of different things by different mentors and

to attract start-ups focused on process auto-

TENS OF MILLIONS IN ACCELERATOR PROGRAMS

have a hard time filtering,” Austin told BR.

mation, financial services and B2B services

Data on the financing sums in the accelerator

in a wide array of industries including retail,

programs are hard to come by. In 2016, the

energy and real estate.

total investment made within 193 accelerator

She says that Risky Business works with up to eight start-ups each cycled in an acceleration program and each entrepreneur can get the right mentor for each specific need. “The important thing is to have a good understanding of what you want to get from an accelerator and what they actually provide. Look at the team behind the program and what they have achieved in their own businesses. You can’t just look at their website, you need to talk to start-ups that have worked with the accelerator and see their results. Some programs just provide workshops and events – and for some very early start-ups, that is a good thing. For others that is just a distraction,” she said. Risky Business is fairly

“Through these strategic corporate part-

programs was EUR 47.5 million. The biggest

industry agnostic, but likes biz-tech start-ups

nerships we aim to develop specific verticals

market for acceleration investments was the

which focus on solving problems, especially

and to facilitate the development of start-ups

UK with EUR 15.5 million and 992 start-ups

for SMEs.

by granting them access to resources and

accelerated, according to a report by Gust.

“Rather than working with dozens of startups at once, we prefer to be more selective

niche expertize,” representatives of Spherik Accelerator told BR.

More than half of the accelerators in Europe claimed to be “for-profit ventures”. This

The accelerator is open to start-ups from

is done by the appreciation of their equity in

Our approach is partner driven, rather than

Romania and neighboring countries such as

start-ups and by providing “acceleration-as-

mentor or workshop driven. We work on a

Ukraine and the Republic of Moldova.

a-service” to large corporations, say experts

and provide more support to fewer start-ups.

daily basis with our start-ups, providing individual support,” said Austin. One of the investments made by Risky Business was in Ebriza, a cloud-based POS

“Our objective is to support start-ups to get validation in Romania and then to open

from Gust. “Today, accelerators often operate across

opportunities for them at European and

the investment life cycle in an attempt to fill

global level,” said the representatives.

the gaps in local start-up ecosystems and ca-

Spherik Accelerator has a personalized

ter to potential financial partners and spon-

ment was EUR 70,000 in partnership with

system for each start-up in every develop-

sors. These include governments, universi-

Marcelus Suciu, owner of the Marty’s Res-

ment stage and towards the end of the accel-

ties, and corporations. New operating models

taurants chain. About one year later, Banca

eration phase it helps early-stage companies

have evolved immensely, thereby blurring

Transilvania invested EUR 300,000 alongside

get in touch with investors and strategic

the lines between accelerators, incubators,

the VC, making it the first ever seed invest-

partners for further development.

and early-stage funds,” stated the report.

and app store for HORECA. The initial invest-

www.business-review.eu Business Review | September 2018

26 PARTNER CONTENT

HAGAG DEVELOPMENT EUROPE fuels ahead in Bucharest Redefining luxury real estate

What are the main projects you developed

How do you see the office market in Bucharest

What are the main specifics of your H

in Bucharest so far and what differentiate

and how does your project – H Victoriei 109 –

Victoriei 109 and what is its added value for

them from others real estate projects?

frame in this picture?

the market?

We entered the Romanian market two

The office market is constantly evolving and so

We have always been keen on preserving

years ago with the ambition of redefining

are new developments. This can be translated

history and we chose to develop this project

the term of luxury real estate. Today, we

by the fact the demand is exceeding the offer.

not only because we saw this as a dare to

are planning the development of three

Lately, companies consider relocating back into

the status-quo of real estate developments

residential projects – H Pipera Lake, H Eliade

the city.

– by reviving old and dusty properties, but

9 Residence and H Victoriei 139 and an office

Our H Victoriei 109 frames perfectly in the

also because of the cultural heritage of the

building – H Victoriei 109. The features that

picture depicted above, not only because of

Calea Victoriei area. We are talking about

will differentiate these projects from other

its prime location and easy access to public

an already renowned property that enjoys

real estate developments are their location,

transport, but also because once completed

the benefit of being located on one of the

great architectural concept and top finishes,

it will become a modern facility, aligned to all

main arteries in Bucharest. Then, we have

together with exclusive services that will

the needs a Class A office project might require.

the historical part and the building’s own

convert them in landmark developments.

We are talking about premium finishes and ex-

personality. Last, but not least, the project is

clusive facilities, multiple access ways, natural

designed in such a manner so that it will be

What can you tell us about the total invest-

light, improved glazing and insulation, technol-

assessed with a Very Good BREEAM IN USE

ments in your projects (both office and

ogy lighting system, charging points for electri-

certification.

residential ones)?

cal vehicles, bicycles parking, showers, flexible

Nevertheless, there are also a series of

We would like to keep the value of our

floor layout through raised floors, separate and

details that make the difference. H Victoriei

transactions confidential. However, we can

independent HVAC system on each level, green

109 will benefit from all the facilities of the

confirm that the market value of our invest-

areas and a façade lightning system.

modern office buildings: floating floor, ven-

ments exceeds, so far, 300 million euro.

tilation system with fresh air intake, high en-

www.business-review.eu Business Review | September 2018

PARTNER CONTENT 27

How big is the investment for H Victoriei 109?

What are their main characteristics and

Putting aside the value of the building itself, we

how much did you invest in these two

have scheduled for H Victoriei 109 an investment

projects?

of 8 million euro dedicated to the rehabilita-

Features such as unique location and iconic

tion and consolidation of the building. The

streets such as Calea Victoriei and M. Eliade

techniques we plan to use aim to strengthen

boulevard, alongside the luxury finishes

composite materials and bring the building’s

and exclusive facilities are the main charac-

façade to the original appearance, maintaining

teristics of these two residential projects.

the architectural features as initially projected.

The budget allocated for the development of these projects exceeds 25 million Euro.

When did you start the working

Both H Victoriei 139 and H Eliade 9 Resi-

for this project and what is the date

dence will be delivered in 2020.

for its completion? Construction works started in July 2018 and the

Who is your main target for these two

completion is estimated to be near the second

residential projects?

half of 2019.

We target those that are looking for an exclusivist location combined with a

How do you see the residential market in

unique luxury product, both Romanian and

Bucharest and how do your projects

foreigners.

– H Victoriei 139 and H Eliade 9 Residence – frame in this picture?

In your opinion how will these two resi-

ergetic performance, natural light and open

Since forever, there has been a high demand for

dential projects reshape the residential

space. We are talking about GBA 7.325 sqm

luxury residential units. What H Victoriei 139 and

market in Bucharest?

and GLA 6.000 sqm displayed on a height

H Eliade 9 Residence aim is to redefine luxury.

We plan to redefine the luxury real estate in

regime of UG+GF+7F. All factors combined

The first will embody elegance and glamour and

Bucharest by bringing our wide experience

make it appropriate to consider that the

the second will represent the contemporary ap-

from Israel onto the Romanian market.

project brings added value for the market.

pearance of modern luxury.

Yitzhak Hagag, President Hagag Group

www.business-review.eu Business Review | September 2018

28 BRANDS

Brand nostalgia reloaded: the millennials reviving communist brands Thanks to recent initiatives by young local entrepreneurs, Romanians can ride their Reghin skis like it’s the ‘60s, check the time on an Optimef wristwatch like it’s the ‘70s, and drink Rahova beer like it’s the ‘80s. With this, the bittersweet longing for aspects of life under communism, known as Ostalgia, is making a fresh comeback fuelled by brand nostalgia. By Georgeta Gheorghe

he relaunch of popular communist brands is not a recent phenomenon. Happening everywhere across Central

and Eastern Europe from Slovakia to Poland to Russia, it is part of a wider movement, which, like most cool things, originated in Berlin. Coined in the German capital in the early ‘90s by an East German cabaret artist, Ostalgia (a portmanteau of the German words Nostalgie, meaning nostalgia, and Ost, meaning east), describes a phenomenon that by the end of the ‘90s had already created in the former GDR a booming “nostalgia industry” – the revival, reproduction and sale of East German products. Locally, several products sold under com-

Optimef co-founders Andrei Morariu and Bogdan Costea

munism survived the sudden meeting with capitalism. Eugenia, the cream-filled biscuit sandwich and one of the country’s most

the exact same category. So what motivated

kick off new projects. The launch of the new

popular snacks, is still made by the original

them?

range of craft beers, Dura explains, was a way

producer, the 100 percent Romanian-owned

to diversify their product portfolio and bring

Dobrogea Grup, while Dacia, Romania’s flag-

A MODERN TAKE ON AN ICONIC BEER

back the spirit of Bucharest’s legendary beers.

ship car and one of the country’s top export

For his project, which brought to the market

Their modern labels depict landmarks of

products, has been made by Automobile

a beer bearing the name Rahova, a tribute to

neighbourhoods against pastel backgrounds.

Dacia, a subsidiary of the French car manu-

the legendary Bucharest-made brew that was

facturer Renault since 1999. Most traditional

once the most popular in the country, Radu

Romanian brands of sweets, detergents, beers

Dura (38) sought not to recreate the exact

and more sold under communism are now

iconic beer, sold until the end of the ‘90s, but

part of the portfolio of multinational compa-

to capture the spirit of the “neighbourhood

nies. Most – but not all. Among the indepen-

beers” of that time.

dents, the most popular bike brand, Pegas,

He started the ‘Bucuresti de cartier’

was forgotten until 2012, when local entrepre-

project with Doru Rusanescu (39) in March

neur Andrei Botescu registered the trademark

2018. The two had partnered three years prior

and, with capital of EUR 70,000, one year later

to build a company around their flagship

started production. Revived, revamped, re-

product Rasta Monsta, an energy drink now

cently franchised and poised for international

sold in most major supermarkets. Having

expansion, to date Pegas is the most success-

each worked for over ten years in the bever-

ful entrepreneurial story involving an iconic

age industry before turning to entrepreneur-

Romanian product. Three brands, recently

ship, they shared the relevant background,

revived by millennial entrepreneurs, fall into

necessary expertise and passion needed to

Optimef Farazece, the brand’s first model

www.business-review.eu Business Review | September 2018

30 BRANDS

Five months later, after Rusanescu left the project, Dura attracted a new partner, Bauturi Speciale, and put on the market a new beer, an IPA, which is sold under labels representing another two neighbourhoods: Drumul Taberei and Dristor. Having started with an investment of EUR 20,000, Dura and his partner make their beer in a small brewery in Crangasi, started by a trio of craft beer enthusiasts that go under the name of Three Happy Brewers. Whether they will continue to be what the industry has dubbed “gypsy brewers” for long is still something they have to decide on.

Schiuri Reghin’s Pitic and Combi -R Models

THE RIGHT PEOPLE AT THE RIGHT TIME The co-founders of Optimef, the modern successor of Romania’s first watch, are Andrei

“I’m not even sure I ever got to taste the origi-

as Dura describes it, went through a process of

Morariu (30), an actor, and Bogdan Costea

nal Rahova beer myself,” Dura says, “because

“emancipation”.

(37), an architect. The two met at a film festi-

I was still a child at the time it was on its last

Nevertheless, according to Dura, tradition-

val and the experience turned out to be very

al beers’ appeal was enduring enough to make

valuable for the task of reviving Romania’s

diehard fans look for them even after they

first watch. “We learned then the stages of

munism fell, in the aftermath of the 1989

had disappeared from the shelves. “Around

implementing a project from the idea and

Romanian Revolution, his memories of the

2000, when I started working for Bucharest’s

until the final product; it was then that we

beers are vivid. “Communist beers were a

beer distributors, the names of the beers I

also had our first contact with such notions

fixture at grownups parties,” he recalls. “They

had heard about as a child from the grown-

as branding and advertising. All of them were

were chilled in large galvanised steel boilers,

ups around me, such as Rahova, Bucuresti,

outside of our area of expertise and helped

using large chunks of ice – boulders, to be pre-

Cismigiu and Ateneu, started to pop up in

us a lot when we launched Optimef,” Morariu

cise, and not ice cubes, as we have now. Their

conversations with clients.”

outlines.

legs.” Although he was just nine when com-

The first beer Dura and his partner pro-

“It all started back in 2014 with the ques-

soaked, peel off and float away, rendering

duced, a light lager, was sold under two labels:

tion: What happened to the watch-making in-

them anonymous,” he recalls. “They tasted

Rahova, celebrating the memory of the former

dustry in Romania?” he recalls. With an EUR

very bitter, especially to us as children, due to

beer factory, closed and in ruins since 2011,

30,000 investment from their own savings,

the hops which they used in a good measure

and Pantelimon.

family money and that of a friend they like

labels, made of thin paper, would quickly get

to ensure a longer shelf-life,” says Dura, who

to call ‘business angel’, they took on the task

started working for several local beer distribu-

of reviving what had been described at the

tors while still in college, about ten years into

moment of its launch, in 1979, as a “modern,

capitalism.

accurate and reliable” watch. Two years passed between the time the

By then, the Romanian beer market had already experienced major changes. An excise

entrepreneurs started the project and the

tax cut on beer in 1997 had made the local

moment they put the first Optimed on their

business environment very friendly for brew-

wrists.

ers. Around that time, the first large interna-

The first challenge was unexpected: find-

tional brewers entered the market, and their

ing a working original Optimef watch turned

market share rose under the positive auspices.

out to be impossible. Optimef watches are

By 2004 they had strengthened their presence

rare finds, as they were discontinued two

by buying some of the biggest local factories.

years after launch. “It was a liquid-crystal

The move meant the labels consumers had

display clock that made it less popular than

drunk for generations went off the market.

the successors of Cromef and Orex,” Morariu notes. As for getting in touch with the

Then, as local consumers got exposed to a larger variety of beers, including global brands, consumers’ preferences changed, or,

Schiuri Reghin’s Topazzz skis

original producers of the ‘70s watch, that also proved unviable. Mecanica Fina is currently

www.business-review.eu Business Review | September 2018

BRANDS 31

owned by an Italian businessman who did not continue making watches after taking over the plant. They responded in typical millennial fashion, doing their research exclusively online. “We found images of all the models launched, the technical specifications, the box they were packed in, the Scanteia newspaper clippings and factory pictures,” Morariu says. Later, the project suddenly seemed hopeless when the two started looking for a manufacturing site. “While the creation side, the design and defining the concept went smoothly, we were immediately discouraged by the production possibilities available in Romania,” the entrepreneur recalls. “So we

Bucuresti de cartier beers

began to study several international boutique brands – the niche where we wanted to position ourselves – and try to track the

brand.” “A nice surprise we had after the

to produce the skis in the Czech Republic, in

steps taken for their products, up until the

launch,” Morariu recalls, “was to be contacted

a factory with a tradition of over 100 years, he

production stage.” All roads led to Hong Kong.

immediately by several people who had

explains.

Several weeks of phone calls and market

worked at Mecanica Fina in the ‘80s.” And the

prospecting later, we decided to go there for

prospects are positive. In their first business

to find and establish a relationship with pro-

a few appointments. That’s how we got to

year, they posted a EUR 50,000 turnover.

ducers, Big says. Also, learning the trade was

Then, an important part of the process was

not easy, as “there is no direct competition,

meet the producer we’re working with now. From that moment on, things went smoothly

TAKING THE BIG JUMP

so we could not learn from others,” he adds.

again, exactly under the terms and conditions

Apart from being skiing enthusiasts, Sebas-

“We then we built a website with a payment

we agreed at the beginning. The mechanism

tian Big (38) and Patiu Ionut (39) have a back-

platform. We believe that online sales are

comes from Japan, the case from Shenzen,

ground in product design and sales. For reviv-

already the future of sports equipment.”

and the final assembly is done in Honk Kong,”

ing and bringing to the market their version of

he says.

the Reghin Skis, they needed all those skills

first memory of the original Reghin skis was

For the Baia Mare-born entrepreneur, his

and more. “We did just about everything,

an important emotional factor in deciding to

and had not done market research prior to

from the design to website integration with a

enter the venture. Still, he would not bet the

starting their project, they faced a fresh chal-

payment platform, from marketing and PR to

brand’s entire marketing strategy on nostalgia

lenge in positioning the new brand. “From

primary accounting and conducting tests in

alone. “My first memory was of going with

the beginning, we relied on the uniqueness

the resorts,” Big says. That, he explains, drove

my dad to the ‘famous’ store Foto Muzica si

of the idea, the quality of execution and on…

down the amount invested, to EUR 50,000.

Sport and buying two pairs of Reghin Combi-

Then, as neither had any retail experience

nostalgia,” Morariu says.

“The idea to revive the brand popped up in

R skis, a yellow pair for me and a blue pair for

a conversation we had about four years ago.

him,” the entrepreneur recalls. “Of course I

reviving iconic brands and making them suc-

That was followed by two years of research to

liked the blue ones more, because they were

cessful today represents a means of making

see what ski production and what a company

for adults, and afterwards that was all I could

peace with the past. “We decided to relaunch

producing skis really meant,” Big recalls. “We

think about… that I couldn’t wait to grow up,

Optimef to remember that cool things were

are both skiers and were pretty knowledge-

to wear the blue ones!”

happening in Romania before we even knew

able, but we had to learn how to switch posi-

what ‘cool’ meant. Hence our slogan: Some

tions, from consumers to producers.”

For the two first-time entrepreneurs,

Romanian cool. Again,” says Morariu.

“Ideas we had aplenty,” the entrepreneur

But although, Big argues, “the original product is obviously associated with our childhoods, with a space marked by free-

says, “but it was important to discard a lot of

dom, which fits well with the idea of skiing,”

responsibility involved when you decide to

them fast, because they were not viable. One

though popular and accessible, the original

‘touch’ something old compared to launching

of them was producing the skis in Romania.

Reghin skis were far from top notch. “Their

a new brand, but we enthusiastically accepted

“We quickly concluded that it would be

level of quality was not ideal, and this is what

this challenge. We’ve treated the Optimef

extremely expensive, both from the point of

the new Reghin skis want to fix. So basically

project since the beginning as one leading

view of the infrastructure, as well as the final

our vision revolves around the idea of quality

to a rebirth, not as a continuation of the old

cost of the product.” That is why they decided

skis at affordable prices.

He adds, “Of course, there is a lot of

www.business-review.eu Business Review | September 2018

32 DIASPORA

Diaspora strikes back: Romanian emigrants bring money and political pressure With more than 3 million of its citizens having left the country during the last couple of decades, Romania is a unique country in Europe, an example of large-scale depopulation due to widespread poverty, bad public policies and poor infrastructure and public services. By Sorin Melenciuc pects in source countries are among the main factors supporting remittances, according to the World Bank.

HUGE IMPACT ON ECONOMIC PERSPECTIVES The presence of millions of Romanian immigrants in Western Europe is a recent phenomenon, as most left the country during the last 15 years, particularly following Romania’s accession to the European Union in 2007. Romanians who emigrate are mostly economic immigrants, as their main motivation is low employment and income perspectives in Romania. But sociologists point out that the Romanian diaspora is very diverse, ranging from low-skilled workers to highly educated scienSpain is one of the main destination for romanian migrants

ut this large diaspora is also one of Romania’s best assets. From an economic perspective, Romanians living

abroad represent the biggest “foreign” investors in the country, allowing the government to keep external deficits under control. According to Business Review calculations

According to recent estimates, more than 15,000 Romanian doctors – around one fifth based on IMF balance of payments data. This amount is equivalent to 2 percent of Romania’s GDP in 2017, or USD 211.8 billion (EUR 188 billion). In 2016, Romanian migrants, mostly living

record high, up 23.2 percent compared with

World Bank figures show that Romanians living abroad sent home USD 22.2 billion over the last ten years (2008-2017), equivalent to around 10 percent of GDP in 2017. In Europe, Romania was the third largest

2016, due mainly to stronger growth and

remittance recipient in 2017, after Russia and

employment prospects in source countries,

Ukraine.

according to the latest World Bank figures,

More generally, every economic sector in Romania is affected by the departure of and there are not many replacement options.

(USD 3.09 billion).

to their families back home USD 4.3 billion, a

health system.

Germany and the UK, sent home 7 USD 3.49

is by far the largest source of capital invest-

In 2017, Romanians living abroad remitted

working abroad, a huge loss for the local

skilled workers to more developed countries,

billion, up 13 percent from the previous year

percent to GDP last year.

of the country’s total number of doctors – are

in richer European countries like Italy, Spain,

based on official data, the Romanian diaspora ment in Romania and contributed around 2

tists and doctors.

Stronger growth and employment pros-

In July, only 17,000 non-EU permanent and posted workers were registered in Romania, according to Labor Ministry data sent to Business Review. This represents an all-time high, but is still a negligible number compared with the millions of Romanian workers who have left the country. Globally, the Romanian diaspora is equivalent to almost one third of the country’s

www.business-review.eu Business Review | September 2018

DIASPORA 33

active population, and the impact on local economic perspectives is huge. Economists have calculated that without large-scale migration, Romania’s GDP would have hit the EUR 200 billion threshold in 2016 – 25 percent higher than the actual figure that year – if one out of the 3 million Romanians living abroad had remained in the country. This translates into lower growth prospects in the EU’s third-poorest country in terms of GDP per inhabitant and purchasing power. “Currently, Romania lags seven to ten years behind other Central and Eastern European countries like Poland, Slovakia, Hungary, and the Czech Republic (i.e. it needs seven to ten years to reach their current development level) and has a 35-year development lag behind OECD counties (i.e. it took OECD countries 35 years to develop from Romania’s current development level to Large numbers of Romanians living abroad came to Bucharest to protest against the government on August 10

their current development level),” World Bank experts said in a recent report.

POLITICAL PROBLEM

its large diaspora in the development of the

Italy, Spain or the UK knew anything about

From a political perspective, this large-scale

country.

Romania and its inhabitants.

migration of Romanians to other coun-

Around 3.4 million Romanians went

tries was long seen as a positive, because it

abroad between 2007 and 2015 to escape

reduced unemployment and the pressure on

poverty and corruption at home, according to

politicians to implement good development

a recent UN International Migration Report.

policies and to become less corrupt.

Some politicians say that Romanians living

In fact, very few Western citizens had had direct contact with a Romanian until 2000. This has dramatically changed during the last 15 years. The more than 3 million Romanian immigrants have become a daily pres-

abroad regularly send money to their families

ence in the lives of many Italians, Spaniards

abroad have shown more interest in their

at home, and this hard currency is used to

and Britons, and contact between people usu-

home country and become more politically

buy products, build homes and to start busi-

ally brings knowledge.

active.

nesses. On a larger scale, the remittances are

But in recent years, Romanians living

This has generated much larger media cov-

used to keep Romania’s balance of payments

erage of Romanians and Romanian realities

become tangible during the last few years,

– largely in deficit – in a safe position and to

in Western countries, as people have become

and the impact on the political parties is

prevent the depreciation of the RON.

more interested in their neighbors’ country.

The diaspora’s involvement in politics has

But some in the country accuse the dias-

Another effect of this large Romanian

pora of being cut off from Romanian reality or

presence in rich Western countries is a sharp

in Romania’s internal affairs could be seen as

being too involved in domestic affairs without

increase in many European citizens’ interest

a sign that many Romanians living in Western

living in the country.

in traveling to Romania.

growing. This curious involvement of the diaspora

countries, where they sometimes feel rejected

The debate reached a peak this summer

Last year, the number of foreign tourists

and treated like second-class citizens, are

when large numbers of Romanians living

coming to the country reached a record high

interested in returning home.

abroad came to Bucharest to protest against

of 2.75 million, up 11.3 percent compared with

the government on August 10, with the ensu-

2016, according to official data.

But for Romanians living abroad, their home country is still far from being an attrac-

ing violent clashes with gendarmes widely

tive choice: it is ruled by corrupt governments

covered by the international media.

Most foreign tourists here come from European countries, with Germany, Italy and France among the top five countries of origin.

and public servants, has poor infrastructure,

But Romania was also visited by almost

a terrible health system and offers few at-

IMAGE FACTOR

tractive, high-wage jobs, despite impressive

This worldwide coverage is one aspect where

300,000 Israeli citizens and by more than

economic growth and double-digit income

the Romanian diaspora has long contributed.

157,000 Americans last year, as the country

increases. This involvement in politics has generated a fierce debate in Romania over the role of

Until the 2000s, Romanians living abroad

has become more open to the world and more

were rare and largely under the grid in

Westernized since accession to the EU and

Western countries, and very few citizens of

NATO.

www.business-review.eu Business Review | September 2018

34 SUSTAINABILITY

Sunny outlook: EFdeN Signature puts accent on comfort in Dubai Romania will be represented in the international competition Solar Decathlon Dubai 2018 by the solar house EFdeN Signature. The house gets its energy through photovoltaic panels, with the surplus stored with the help of batteries for overnight use. The interior design is adaptable, modular, transformable and open. BR talked to Nicoleta Cruceanu, project coordinator, about the houseâ&#x20AC;&#x2122;s particularities and the process behind its creation. By Romanita Oprea optimization process carried out by the team. Even after finishing the construction there is still a lot of work to be done, as we plan to test and optimize the house systems even further, making sure that it performs at the highest standards possible.

What were the main challenges and how did you overcome them? One of the main challenges when building the Signature prototype was the environment where the competition would take place this year, namely in Dubai. We had to build a house that would withstand desert conditions, such as extreme temperatures, sandstorms and high humidity. It is the first time for us, participating in the competition on another continent, with a totally different climate than the one we are used to. Other challenges were related to making the most of it with often limited resources, time especially, synchronizing activities with peopleâ&#x20AC;&#x2122;s schedules, fluctuating delivery terms, even weather, all of it being student-led. And, of course, a huge task was convincing the partners to support us with high quality and sustainable materials, but our enthusiasm and good intentions to build an outstanding

participation in Solar Decathlon, competing

Tell us about the road from the idea to the final step (time, process, people involved, etc).

with the PRISPA prototype. Six members of

EFdeN is a multidisciplinary team with more

our devotion, courage, persistence and many,

the PRISPA team decided to continue and to

than 40 members from several universities

many hours of hard work that allowed us to

in Bucharest. In the last two years, EFdeN

overcome all the challenges we met along the

cathlon Europe, in Versailles, 2014, with the

Signature has been our most important

way.

EFdeN house, which became the first Comfort

project: we designed, fundraised and built

Research Center in Romania. In a nutshell, it

the Signature prototype with the help of our

was a dream of our founding members that

collaborators and partners. Starting from a

How is it different from existing solar houses?

came true, to build affordable and sustain-

biophilic concept in the early stages of design,

Every solar house is different and designed

able houses, so we easily got more and more

the prototype has gone through several

considering specific requirements. We de-

involved in this, starting to build the houses.

changes, evolving along with the research and

signed EFdeN Signature with great care for

When and how did inspiration strike? EFdeN was born in 2012, after Romaniaâ&#x20AC;&#x2122;s first

house convinced them all to support us or even join us in building it. In the end, it was

www.business-review.eu Business Review | September 2018

SUSTAINABILITY 35

the occupier’s experience in this house, be-

How is consumption reduced exactly?

making us pool all our resources in order to

yond his or her consumption behavior, carbon

As the most energy-consuming process in

compete with 17 other strong teams, some

footprint and energy savings. What makes

the Middle Eastern climate is air condition-

of them veterans of this competition, only

it different is the attention to the comfort

ing, energy efficiency strategies are aimed at

in an entirely new context, of which we

conditions, both physical and psychological,

reducing cooling demand. First and foremost,

knew little. This made it even more exciting,

integrating vegetation, aesthetic features and

passive strategies are implemented and only

because we had to not only think outside the

light effects that bring the occupier closer to

then do we focus on choosing a very efficient

box, but get out of the box completely and

nature. Another feature that enhances oc-

active system. So by design we ensure that

find a way to bring sustainable solutions in

cupier experience is the artificial intelligence

we need a small air conditioning unit and

extremely challenging conditions and new

assistant Alexa, implemented in the house’s

only then do we choose the most efficient

ideas in a place that has seen pretty much

automation system, aiming to ease many of

one. The passive strategies include adapta-

everything.

the house functionalities.

tions of traditional centuries-old Middle East-

Moreover, considering the challenges of

ern ones such as wind towers and mashrabiya

the competition, the Signature prototype is

– an architectural element designed for

What is your target for the prototype in the next two years?

designed and built to adapt to the extreme

shade. The use of such perforated panels with

The most important objective right now is to

weather in the desert, so a lot of its features

orifices is designed to reduce heat from the

proudly represent Romania, with the house

were created especially to make the house

sun while maximizing natural light and venti-

performing as well as possible in the compe-

easily adapt to extreme temperatures.

lation. Moreover, all appliances are efficient,

tition in the fall. For this we are testing and

And, more importantly, it is different

lighting is LED, water is heated with solar col-

optimizing it, keeping it mind all ten contests

because it was designed and built by a team of

lectors and the automation system ensures

in which it will be judged and monitored.

mostly students, which makes it the best.

no energy is consumed without purpose.

Upon returning from the competition we will

Who is the target of this house?

mate and showcasing alternative sustainable

individual with the option of adding an extra

What are your expectations from Solar Decathlon Middle East and how are you approaching the event?

bedroom and bathroom on the west side of

This year’s edition was a real challenge,

a more environmentally friendly lifestyle.

be looking to adapt the house to the local cliThe house is designed for a couple or an

solutions for the building sector, while hosting educational activities in order to promote

the house. For Dubai, the target audience is young professionals with above average social and financial status who are travelling there for career opportunities. In Romania, the target audience is young people interested in nature and sustainability, with above average incomes.

How exactly does the technology work? When you say technology inside the EFdeN Signature house, you refer not only to every piece of smart equipment that fits in but to the capacity to have them interconnected, the possibility of making them “know about each other”. This facility is managed by the automation system – a PLC (programmable logic controller) with adjacent sensors, meters and auxiliary control units. In order to ensure a strong house-inhabitant relationship, a voice assistant is in charge of facilitating the resident’s wishes. For example, the Voice Assistant is able to give information about the comfort parameters in the house at any required time, as well as the external parameters, to check if the windows and doors are open or closed, and control the ventilation system, irrigation system and many others.

EFden prototype in numbers Useful floor area - 75 square feet, Built surface - 150 sq ft The prototype is priced at EUR 300,000, but for sale the cost is reduced. The high sum comes from its being built in just 15 days for the Solar Decathlon Middle East competition in Dubai. The prototype is being built with educational purposes, in order to represent Romania in the international competition. It is a team EFdeN property, while the plans are available on the competition’s website. There is no commercial purpose yet. The house will be built in Dubai, during the 15 days provided by the competition. The technical equipment for electric energy production is a system of 32 photovoltaic boards with installed power of 8 kWp, two invertors with installed power of 4 kWp and an energy storage system for estimated overnight consumption. Annual energy production is estimated at 14.8 MWh, and consumption at 13.84 MWh. In terms of mechanics, the house uses an air cooling system, multi-split with two interior units, with a capacity of 8.96 kw, in order to maintain a comfortable interior temperature of 23-25 degrees. For ventilation the system is equipped with a unit recovering the heat and humidity, through which the introduced air is cooled with the extracted air, without combining them. The ventilation is controlled with CO2 censors from the control center. The flexible illuminating solution incorporates four sensors of light intensity found in the living, dining, kitchen and working area, through which light intensity is automatically regulated according to the natural light, in order to save energy and to keep a constant luminosity of minimum 300 lux. For the user’s comfort different lighting scenarios can easily be set (for example, at 10pm all the lights can be dimmed to encourage sleepiness). There are integrated intelligent appliances, smart-mirror and bath and kitchen accessories with reduced water consumption. All the used technologies inside the prototype are integrated into the house’s automation system, controlled remotely by the voice assistant or through the mobile app.

www.business-review.eu Business Review | September 2018

36 INTERVIEW

Going places: local firm dcs plus takes travel tech global One of the most successful Romanian businesses internationally, dcs plus, a company designing and developing IT solutions for the travel and tourism industry, has opened three new offices in key markets Dubai, Singapore and Sao Paolo, while New York is also on the cards by the end of 2018. BR talked to Andrei Savin, head of the global sales & partner network, and found out more about dcs plus’s plans and the markets it is operating on. By Romanita Oprea new markets such as Singapore, Iceland and even Papua New Guinea and been travelling around the world while partnering with highprofile industry events. Who is your competition internationally at the moment and what do you do differently? In the last few years, the travel industry has become overwhelming in its dimensions, diversity and complexity. There are a lot of players in this highly fragmented market, but we are the only one that offers a full stack of enterprise grade solutions addressing the needs of all types of travel companies: TMCs (Travel Management Companies), DMCs (Destination Management Companies), tour operators, OTAs (Online Travel Agencies) PCOs etc.

How has 2018 started and what are the main plans and goals for this year? We started full speed ahead. 2018 is all about strengthening our presence in existing markets and continuing with our international expansion. One of our most important goals was to open dcs plus offices in key regions. APAC (Asia-Pacific) and LATAM (Latin America) are already on the map, and the US will be the next one. Besides that, we have enrolled in several strategic partnerships with leading travel management companies to drive innovation, speed and efficiency and to better serve and support their global networks of travel agencies.

How much has dcs plus changed and developed in the last two years?

Sao Paolo, all key regions across the world,

What about for the near future?

full of opportunities and with an increased

We’ll keep up our accelerated growth. The

We’ve been quite busy in the last two years

appetite for scalable travel technology. We’ve

company, regardless of the market on which

and just to give you a glimpse of what we’ve

changed our HQ office building, we have

we operate, will always focus on develop-

been up to lately, I’ll start with the opening of

grown our team by bringing on board more

ing solutions for the travel vertical. What

the three local offices in Dubai, Singapore and

than 100 new employees, taken dcs plus to

keeps us wanting more is that we are not just

www.business-review.eu Business Review | September 2018

INTERVIEW 37

a technology company. We are a motivated

technology to rely on (from an agency per-

talent pool provider and a stamp of approval

team whose mission is to understand the

spective) and with mobile-first travelers.

of the quality of our work.

challenges of the travel chain and, from

For Latin America we expect 2018 to be a year

there, to seek solutions. We have grown and

of evolution, as the result of rapid technologi-

enabled major partners around the world by

cal, economic, political and social change.

doing so, aiming for a long-term relationship.

LATAM is a highly fragmented market with

This is the dcs plus DNA.

numerous currencies, cultures, languages and business operating environments. This

How much did the investors that believed in you (Earlybird and Credo Ventures) count in your evolution and expansion worldwide and how has each of them contributed to your success?

You’ve opened offices in Singapore and Sao Paulo. Why particularly these locations?

might make harvesting the full opportunity

We did not actively look for an investor,

of the region a real challenge but as a whole,

but ever since 2007 we were approached by

the region also offers big gains for technology

various investment funds and companies.

It started when we noticed a lot of business

providers that are up for it. Complexity brings

We were never looking for capital; we were

enquiries coming our way from both regions

opportunity to online and travel tech compa-

always profitable and grew and doubled our

and while all this came as a reassurance of

nies, as local suppliers expand throughout the

business every year. But, as engineers, we’re

the quality of our work, we understood that

region and look for new partners.

curious by nature and we wanted to test and see what these companies interested in us

there was a need for enterprise travel soft-

had to offer, apart from financing.

size of the industry there, these regions will

How do you innovate? What is your process?

be a major catalyst of growth. So, both Singa-

We are engineers. We are computer scientists.

team, expand and diversify the products in

pore and Sao Paolo came as a natural choice

We are techies. But most importantly, we are

our portfolio, so that we could target a more

to house the dcs plus regional operations. Af-

listeners. We like to keep things simple and

varied segment of players in this industry.

ter all, the establishment of these new offices

on point. This means we take one process,

Adding Credo Ventures investment, we got

will enable the scaling of the business and

one need, one problem, and we turn it on all

the support to expand our footprint more

will help in supporting the rapidly expanding

sides until we find a bet-

customer base in those regions.

ter way to do it.

How long did it take to set everything in place and what will each office offer?

ly human industry; it ex-

It was a fast-track process. Once we saw the

experience new parts of

opportunities presented, we acted upon

the physical world. This

them. For example, in Singapore’s case, the

means that by paying

entire endeavor took us around four months

attention to the needs of

from location scouting, to putting all the

our customers we grow

paperwork in order and opening the office for

together. If you combine

business.

that with the multitude

ware in these two areas. Due to the absolute

Earlybird’s funding helped us grow our

Travel is an inherent-

In terms of role, all local offices act as regional headquarters of the company, with

ists to enable people to

of markets we’re present in, you’ve got a recipe for success.

velop and provide innovative products and

a focus on business development and support. Being (physically) present helps us to

rapidly in new markets and allow us to deservices to more companies than ever before.

strengthens our commitment to our clients

How much of a challenge or a chance was the fact that you came into this world from Romania?

and vouches for the long-term partnerships

I’d say it was part challenge, part chance.

we already have in those markets.

Some markets are very reluctant to work

How did you decide to take investments from them and why particularly at that time?

better understand the market particularities,

with Romanian companies, but being a global

Earlybird approached us in a very “non-

What are Singapore’s market’s particularities? What about Sao Paulo’s?

company now, we overcame this. By now it is

VC way”. Before talking about figures, we

clear that Romania has a world acknowledged

spent nearly half a year talking about ideas,

Asia-Pacific consists of some of the econo-

talent pool when it comes to technology. But

concepts and business models. We started

mies that have flourished most in recent

it wasn’t always the same. When we started,

talking about figures only after we realized

years, thanks to the expansion of the middle

working in IT wasn’t so much of a glorified

we liked each other and had similar business

class and the increasing affordability and

occupation and that helped us a lot. There

philosophies.

willingness to travel, particularly intra-

wasn’t a lot of jobs available out there and we

regionally. Industry wise, APAC is one of

had plenty of talented programmers to choose

can proudly state that we share a common

the world’s fastest growing travel regions in

from. Today the market has changed a lot,

business vision, based on stable and long-

numbers, an early adopter when it comes to

with Romania becoming a world-renowned IT

term growth and development.

Now, with two major VCs behind us, we

www.business-review.eu Business Review | September 2018

38 GADGETS

Bitter pill: the tablet swallows defeat against the smartphone History is littered with new products that have claimed to be “revolutionary” but have disappeared in just a few years. From the Ford Edsel car, in which Ford invested USD 400 million, to the Sony Betamax which was vanquished by VHS, to Microsoft Bob, the user-friendly interface for Windows and Toshiba’s HD-DVD that was ousted by the Blu-Ray disk, all were products into which companies pumped huge sums just to see them fail a short time later. The tablet is not such a big failure, but it does show similarities. By Aurel Dragan inventor of the tablet was Alan Kay, with his colleagues at the Xerox Palo Alto Research Center, who envisioned a KiddiComp, a personal computer for all ages. The Dynabook came out in 1972 with children as a target audience but could be used by adults too. It is ironic that four decades later the One Laptop Per Child concept was revived, but to no avail. The Dynabook didn’t make it to the shops due to the technology limitations of the time. Back then tablets were a vision of the future, like the one from Star Trek: The Original Series, launched in 1966, in which tablets were used pretty much everywhere on the ship. But while everybody was expecting a thin, beautiful and powerful tablet, they got the GRIDPad. In 1989, GRID Systems Corporation built a tablet PC that ran MS-Dos, supported stylus input on a 10-inch monochrome screen and lasted for three hours between charges. That device was really a brick, heavy and Lenovo Yoga, the tablet that stands on its own

chunky, but it is considered the first true tablet. Before it came some portable devices, like the Linus Write-Top, a device equipped with a stylus that could recognize handwrit-

he tablet-PC, or just “tablet”, was

ple of new launches every year. This might be

ing. Released in 1987, the Linus weighed 4kg

billed as the “PC killer”. It was sup-

the point where the tablet has finally found its

and cost USD 2,700-3,600, so it is no surprise

posed to be the next step in the digital

place and will remain for the coming years.

that it didn’t take off.

world, the device that could provide all the

But the history of the tablet goes way back

As for the GRIDPad, the price tag was

things a user needed, from phone and video

over five decades. So how did the device

about USD 2,400 without software. But it

calls to graphics and excel sheets. But it

evolve over the years to reach this point?

ended up being used mostly by the military and business, despite the fact that the

didn’t. After a few years of hype around the world, tablet sales started to fall and pro-

BACK IN 1960S

analyst Andrew Seybolt wrote, in 1989, “The

ducers lost interest (after losing money on

The first tablets imagined were those in sci-

GRIDPad is a creative breakthrough in laptop

research and production). So they began to

ence fiction books, like the works of Arthur

computer design.”

dump the tablet and now we have just a cou-

C. Clarke or Isaac Asimov’s Foundation. The

One of the GRIDPad engineers, Jeff

www.business-review.eu Business Review | September 2018

40 GADGETS

Hawkins, continued with the idea of taking

line. The 6 inch

the tablet and shrinking it, and founded Palm

screen weighed 800

Computing. At first, Palm Computing was

grams and used

just a software company, but with the help of

Newton OS, while

Tandy and Casio, the producer of the device,

the hardware was

it made the Zoomer. Unfortunately, it was a

made by Motorola.

failure, but the team learned a lot from it.

It was John Scul-

Hawkins measured his shirt pockets and

ley, CEO of Apple

started to build a device around that size. This

at the time, who

is how the PalmPilot came to life to become

coined the phrase

“the first commercially successful example

Personal Digital

of a hand-held computing device” according

Assistant to describe

to officials when he was made a member of

the Newton. Most of

the National Academy of Engineering. The

the people considered the Newton platform

touch screen tablet computer, under the

PalmPilot came to market in 1996 with a price

ahead of its time, among the reasons why it

name of WEBPAD, later renamed as Intel Web

tag of under USD 300 and is still used by sales

failed.

Tablet.

In 1999 Intel released a StrongARM based

agents and postal services around the world,

But at the same time, the early 90s, the

and people “who fill in forms for a living”, as

market was filled with PDAs. The Atari ST-

THE BEGINNING OF THE NEW CENTURY

Kevin Strehlo wrote in the Infoworld.

Pad was launched in 1991, the same year that

In 2000 Microsoft coined the term “Micro-

The Personal Digital Assistant was the

AT&T released its first EO Personal Commu-

soft Tablet PC”. Bill Gates described it at

pinnacle of Pen Computing, as the technol-

nicator. TheCompaq Concerto was released

ogy was named. Companies like Psion, Apple,

in 1993, using a modified version of MS Dos and Windows 3.1, and had pen-entry and Wacom compatibility. In 1994 media company Knight Rider made a concept of a tablet with a color display and focus on media consumption. In the same year, the European Union initiated the OMINewsPAD project for a consumer device for the consumption of electronically delivered news and newspapers and multi-media. The

Handspring and Nokia were also in the PDA devices business at the time, and it can now

project failed and it was closed in 1997. In 1996, Fujitsu released the Stylistic 1000,

be considered the predecessor of the tablet as

a tablet format PC running Windows 95 on a

we know it.

100MHZ AMD 486 DX4 CPU (core processor

the launch in 2002 as “the tablet PC that is

unit) with 8 MB of RAM and stylus input. It

virtually without limits and within five years

1990S TECHNOLOGY

also had the option of connecting a conven-

I predict it will be the most popular form of

In 1987 Apple started working on tablet proj-

tional keyboard and mouse. It was one of the

PC sold in America.” But the company made

ects internally, but instead of tablet technol-

first tries at a modern tablet that could be

three major errors: it tried to make tablets full

ogy the firm got on board with the PDA trend.

used as a real computer. Fujitsu started mak-

computers, it tried to sell them as primary

In 1993, six years later, the company launched

ing tablets for industrial and medical use and

PCs and it focused on business users first.

Apple Newton, the first of the MessagePad

is still active on this niche.

The Compaq TC1000 was released in 2003,

www.business-review.eu Business Review | September 2018

GADGETS 41

a 10.4 inch screen tablet with stylus input

iPad remains the first and most successful line

2-in-1 due to the keyboard cover) got better in

and a matching keyboard. It looked right, but

of tablets. The first iPad had a 9 inch display,

time, but the price and the use of Windows OS

the performance was lousy for the Windows

10 hour battery life and a powerful 1GHz

(good for business, but not so great for enter-

XP operating system. All these devices were

A4 processor. It also gave access to the app

tainment only) kept it from success.

very expensive (except for the PDAs) and the

library and to the whole internet, being Wi-Fi

performance did not match the price. And the

or 3G ready. For most

rise of the internet forced producers to focus

people today, the

on connectivity as just a PC in a small form

launch of the iPad

was not enough to attract consumers. Intel

marks the beginning

started the Mobile Internet Device initia-

of the tablet history.

tive for a multimedia-capable device with

Because none of the

wireless internet access. The devices were

previous models

supposed to provide entertainment, informa-

entered the mass

tion and location-based services for personal

market, consumers

or business use, allowing two-way communi-

were unaware of any

cation and real-time sharing. It was the basis

prior tablet. It started

of what would later become the smartphone

a craze for apps and

and the modern tablet.

software capable of

By 2015, Android had taken over first place

replacing the PC so it

IPAD AND ANDROID

was no surprise that

Amazon released the Kindle in 2007, a read-

the death of the PC

ing tablet that wasn’t made to be a PC replace-

as we know it was

ment. It started the e-book and e-readers

again proclaimed.

movement, which is today mainstream no

in the smartphone and tablet world. Lenovo

The second iPad was even faster, thinner,

launched the Yoga tablet customized for

matter on what kind of device you read your

lighter and had cameras. It turned into a big

entertainment, with a special stand-bottom

news or books. It also opened the world to

smartphone, an oversize iPhone. But while it

so it could be propped up wherever the user

a “cut-down” computer, rather than a PC

was advertised as a business tool, it was used

wanted. It also went for a bigger display of

replacement, and this was the idea used later

for browsing and video, for entertainment.

12 inches for the same reason, a good image

on by Apple for its iPad.

Consumers realized pretty soon that the

for video. The iPad Pro came out in 2015 and

productivity of the

brought a 12.9 inch screen that defied the

device was rather

“norm” of the tablet. Today we have Apple,

low, so they did not

Samsung, Huawei and Lenovo as the big pro-

abandon their lap-

ducers of tablets, but they have quit spending

tops (PC or Mac) for

huge amounts on marketing.

the use of the tablet. The Samsung

The fall of the tablet was the smartphone’s making. Today’s phones are from 5.5 to 6.5

Galaxy Tab 8.9 came

inches, still fitting in the pocket, and are

out in 201, following

easy to use anywhere. The smartphone is the

the launch of the

dream of both Pen Computing and a computer

Galaxy 7.0 in 2010.

that fits in your pocket. It is also clear that the

But the Android 3.2

future belongs to the smartphone for both

Honeycomb was

business and consumer and it is now being

way behind Apple

developed to be able to do more things, even

so it would take a

more than laptops do. But we shall not see the

few years before it could compete for real.

disappearance of the PC yet as they remain

and Steve Jobs at the launch of the iPad in

Google’s Nexus 7 came out in 2012, the same

the best devices for productivity at any level.

2010. They offered the tablet experience that

year as the iPad mini, a 7.9 inch tablet. At this

people had longed for and laid the ground-

point, smartphones were getting bigger and

there will still be some devices for entertain-

work by getting an entire generation of con-

tablets smaller (there were 6 inch tablets like

ment, some for industrial use and some for

sumers accustomed to intuitive touchscreen

those from Asus). So the question appeared:

special apps used by people on the move or

typing and gestures. Of course, it was the

what exactly are tablets for?

in remote places. The main use for them will

The modern tablet was presented by Apple

efforts of iPhone combined with all the other models of smartphone (Android based), but

Microsoft Surface followed the launch of Windows 8 and Windows 10. The tablet (or

The tablet will not disappear altogether;

remain watching video and online video content providers, like Netflix.

42 FESTIVAL

www.business-review.eu Business Review | September 2018

All photos: Enescu Festival

Pitch perfect: up-and-coming musicians dance to Enescuâ&#x20AC;&#x2122;s tune

Fall always brings the magic of George Enescu, whether the contest or the festival. This yearâ&#x20AC;&#x2122;s International Competition includes a series of extraordinary recitals and unique concerts. The event opens on September 1, at the Romanian Athenaeum, with a gala concert given by the winners of the 2014 edition: Stefan Tarara (violin), Eun-Sun Hong (cello) and Josu de Solaun (piano), along with the George Enescu Philharmonic Orchestra, conducted by Gabriel Bebeselea. Notable this year are the impressive number of candidates for each section and of participants from Romania, far exceeding previous years. So what are previous winners doing these days? By Oana Vasiliu

www.business-review.eu Business Review | September 2018

FESTIVAL 43

“LET’S REMEMBER THAT GEORGE ENESCU INITIATED THE COMPOSITION PRIZE IN 1913 WITH THE DESIRE TO SUPPORT THE DEVELOPMENT OF YOUNG MUSICIANS, TO GIVE THEM RECOGNITION AND SUPPORT. THIS IS WHAT WE ARE CONSTANTLY TRYING TO DO THROUGH THE ENESCU CONTEST AND WE ARE GLAD THAT FOR THE 2018 EDITION WE CELEBRATE THE LARGEST NUMBER OF REGISTERED ROMANIAN COMPETITORS, WHICH SHOWS THE DEVELOPMENT OF ROMANIAN INTEREST IN THIS RESPECT. THE FIGURES SHOW THAT THE PRESTIGE OF THE ENESCU CONTEST BOTH AT NATIONAL AND INTERNATIONAL LEVEL IS STEADILY INCREASING,” SAID MIHAI CONSTANTINESCU, EXECUTIVE DIRECTOR OF THE ENESCU CONTEST AND THE ENESCU FESTIVAL.

George Enescu

Silvia Marcovici, violinist (1967) – A stu-

York in 2001, and has since been a featured

dent of Professor Stefan Gheorghiu at the

soloist of prestigious European ensembles

conservatory in Bucharest, she made her

including the Orchestre Philharmonique de

professional debut at the age of 16 with the

Radio France, George Enescu Philharmonic

Residentie Orkest of The Hague under Bruno

Orchestra, Orchestre National de Belgique

Stefan (violinist) and Valentin (pianist) Gheo-

Maderna. Within a few years she had won

and Deutsche Kammer Orchester. He has

rghiu (1958) – Enescu himself recommended

first prize in the Marguerite Long/Jacques

performed concertos under conductors such

the Gheorghiu brothers for a scholarship at

Thibaut competition in Paris, the special prize

as Lawrence Foster, Dimitri Kitaenko, Michael

the Conservatoire National de Musique de

of Prince Rainier of Monaco for the interpreta-

Sanderling, and Gabriel Chmura. In 2001,

Paris. At the first ever George Enescu Interna-

tion of a contemporary work and first prize in

Azoitei was appointed violin professor at the

tional Competition in 1958, the pair won first

the George Enescu International Competition

Royal Academy of Music in London, becom-

prize for the best performance of the compos-

in Bucharest. Since then, her performances

ing the youngest ever violin professor in the

er’s third sonata. During Stefan Gheorghiu’s

have won her spots on the leading orchestras

history of the institution. He is the artistic

40 years of musical activity, he gave more

throughout Europe, Israel, Japan, North and

director of the Enescu Society in London, also

than 2,000 performances in his native land

South America, appearing with the most

being one of its founding members.

and touring in Europe, the USA, Canada and

celebrated conductors of our time. Alexandru Tomescu, violinist (1999) – Win-

Asia, while his brother had successful tours in European music capitals, the Middle East,

Dan Dediu, composer (1991) – After his gradu-

ning the George Enescu competition and

USA and Canada, also enjoying an impressive

ation from the Music University in Bucharest

immediately after the second prize and the

career as a composer.

(1989) andd post-graduate courses at HMdK in

prize for best recital at the Marguerite Long

Vienna (1990/91), he won the Enescu Compe-

– Jacques Thibaud contest in Paris can be con-

Radu Lupu, pianist (1967) - Currently living

tition for Composition in 1991. Since then, he

sidered his international launch. He earned

in New York, Lupu is considered one of the

has claimed prizes and awards for composi-

the right to play the famous Stradivarius

greatest pianists of all time. He won the

tion in Vienna, London, Paris, Berlin, Buda-

violin, after having studied in Switzerland

Enescu competition in 1967, going on to make

pest, Bucharest, Dresden, and Ludwigshafen.

with Tibor Varga and in the US with Eduard

his American debut in 1972 with the Cleveland

His over 150 works are performed worldwide

Schmieder, and has since sought to popularize

Orchestra, with Daniel Barenboim conducting

and feature on CDs by Albany Records, Cavalli

classical musict. After a fruitful career in Eu-

in New York City. Lupu has performed with all

and NEOS. Since 2003 Dediu has led Profil-

rope and beyond, performing in such venues

of the major orchestras of the world and at top

Sinfonietta Bucharest, in the same year he

as Théâtre des Champs Elysees – Paris, Carn-

music festivals.

was appointed Professor for Composition and

egie Hall – New York and the Metropolitan

in 2008 he was elected Rector of the National

Arts Centre – Tokyo, with conductors includ-

University of Music, Bucharest.

ing Valery Gergiev, Kurt Masur and Christoph

Dan Grigore, pianist (1961 and 1967) - Con-

Eschenbach, Tomescu came back to Romania,

sidered a child prodigy, Dan Grigore was discovered by the famous composer and

Remus Azoitei, violinist (1999) – Azoitei

to organizeg national classical music tours,

professor Mihail Jora, who generously offered

graduated from the Juilliard School in New

paid for exclusively by private funds.

to give him private lessons free of charge, which he did for seven years. The communist regime didn’t allow the great pianist to perform abroad. Nonetheless, Sergiu Celibidache considered him one of the best pianists of all time, while Romanian history holds him up as one of the greatest of the 20th century, alongside Clara Haskil, Dinu Lipatti and Lupu.

ORGANIZED AS A STAND-ALONE EVENT SINCE 2014, THE GEORGE ENESCU INTERNATIONAL COMPETITION SHOWCASES SOME OF THE MOST TALENTED YOUNG ARTISTS TODAY, GREAT NAMES OF TOMORROW’S CLASSICAL MUSIC, AS THEY BEGIN THEIR JOURNEY TO THE TOP. A TOTAL OF 270 YOUNG MUSICIANS FROM 39 COUNTRIES, INCLUDING 22 FROM ROMANIA AND THE REPUBLIC OF MOLDOVA, WILL COMPETE FOR THIS YEAR’S TROPHY IN ONE OF FOUR SECTIONS – COMPOSITION, VIOLIN, CELLO AND PIANO – 60 YEARS AFTER THE FIRST COMPETITION.

www.business-review.eu Business Review | September 2018

44 FESTIVAL

Pianist Josu de Solaun

Violinist Stefan Tarara

Cellist Eun-Sun Hong

THE WOWS OF THIS YEAR’S COMPETITION

Global Reporter publication. Presented for

Tarara, a young Romanian-born artist ac-

The 2018 George Enescu International

the first time in 1894, the score was consid-

claimed on international stages, Spanish

Competition (1-23 September, Bucharest) will

ered lost for 100 years. The original part was

pianist Josu de Solaun, a noted fan of George

feature a series of exceptional recitals. Italian

dedicated to the violinist Bauxman and, sup-

Enescu’s music, and the vibrant cellist Eun-

violinist Salvatore Accardo, acclaimed for

posedly, remained with his family. However,

Sun Hong, settled in Germany. They will

his Paganini interpretations, Swedish pianist

30 years ago, h British pianist Peter Wallfisch

unperform the only triple concerto in Roma-

Peter Jablonski – whose talent was acknowl-

received a copy of the score from a Viennese

nian music literature: Paul Constantinescu’s

edged by jazz legend Miles Davis himself

friende. The state of advanced degradation

Triple Concerto. Conductor Gabriel Bebeselea

– and renowned British cellist Raphael Wall-

made the musical text difficult to decipher,

will lead the George Enescu Philharmonic

fisch, with a discography of over 70 record-

which was why it remained untouched. After

Orchestra.

ings, will take to the stage of the Romanian

the intervention of Anthony Beaumont,

Athenaeum.

musicologist and musician (with Romanian

second of two triple concertos in history; the

According to the organizers, oit is only the

roots, among others), Sonata in Minor scame

other obeing the work of composer Ludwig

Concerto in B minor with Wallfisch as a solo-

to public attention through the interpretation

van Beethoven, also performed on the open-

ist is considered, according to a BBC survey,

of Raphael Wallfisch, the son of the musi-

ing night of the George Enescu Competition,

the best interpretation in the past 25 years.

cian who received the indescribable copy of

in 2016, by previous winners.

eThe prolific tmusician is also one of the most

Zemlinsky’s sonata.

The recording of Antonín Dvořák’s Cello

popular cellists for performing and creat-

In Bucharest, the score has never been

The first recording of Paul Constantinescu’s Triple Concerto was with Valentin

ing contemporary music works. The Briton

played. Experts have described the influences

Gheorghiu (piano), Stefan Gheorghiu (violin)

has collaborated with famous contemporary

of Brahms and Mahler on the work, the two

and Radu Aldulescu (cello), while Iosif Conta

composers Sir Peter Maxwell Davies, Kenneth

composers being close collaborators of Zem-

conducted the National Radio Orchestra.

Leighton, James MacMillan, Rodion Schedrin

linsky. There is a nice coda: in 1893, Zemlin-

and John Tavener. His concert e on 5 Septem-

sky’s first compositional work was presented

Constantinescu’s death, and is one of the

ber will feature a challenging program for his

in Vienna. The conservatory’s orchestra also

reference works of Romanian composition.

recital: works by Kenneth Leighton, Alex-

featured an 11-year-old Romanian boy by the

With a body of over 20 works including

ander Zemlinsky, Sir James MacMillan and

name of George Enescu. And now, the two of

symphonic, chamber and vocal music, the

Guillaume Lekeu. He will be accompanied by

them are brought togetherr in a contest that

composer also wrote original music scores

John York on piano. But the high point will

celebrates Enescu’s talent, offering one of a

– A Stormy Night (1952), A Lost Letter (1953)

be Alexander Zemlinsky’s sonata, which was

kind performances on piano and cello.

and The Mill of Good luck (1956). The Triple

lost for over a century: the Sonata in Minor for cello and piano. The full story was first published in the

The 2018 George Enescu International

eaIt was composed in 1963, shortly before

Concerto is known to Romanian audiences

Competition begins with an extraordinary

nlargely through the interpretive version of

concert on 1 September with violinist Stefan

pianist Valentin Gheorghiu.

www.business-review.eu Business Review | September 2018

FILM 45

U – July 22 (Utoya 22. juli) FILM REVIEW

By Debbie Stowe

DIRECTOR: Erik Poppe STARRING: : Andrea Berntzen ON AT: Europa, Grand Cinema & More, Happy Cinema, Cine Globe Titan, Hollywood Multiplex, Cinema City Cotroceni

one long take, adding to the authenticity, nausea and horror. At the start, the teens react to reports of the Oslo bomb with a mixture of alarm, indifference and high-minded political debate – typical teenage responses. Terror and

ow soon is too soon? When is a trag-

confusion then engulf the young campers as

edy fair game for fiction or film?

the bomber arrives on the island, disguised as

Utoya is the real-life Norwegian

island on which a right-wing extremist mas-

a policeman, and opens fire. The gravitas and slow build-up, as well as

sacred dozens of teenagers at a political youth

the subject matter, are immediately sugges-

camp, shortly after setting off a bomb in Oslo.

tive of the 2006 Paul Greengrass film United

Lawrence about her, and watching teens run

The shootings took place only seven years

93, which also deftly handled a terrorist at-

for their lives through woods and fields, it’s

ago, requiring director Erik Poppe to tread

tack even sooner afterwards than U – July 22.

hard not to think of The Hunger Games.

sensitively and be mindful of the bereaved

A major difference, though, is that while the

and survivors.

9/11 hijackers (or at least one of them) were

tightens and slackens, as Kaja alternately

fleshed-out characters in that movie, here

runs, hides and encounters other terrified

ties – gave the director their accounts of the

the shooter is seen only briefly and from a

youngsters. There are desperately sad scenes,

atrocity, though the movie is a fictionalized

distance, keeping the victims the focus.

and no Hollywood ending. Poppe’s film is a

Some of the latter – still only in their twen-

retelling. It centers on 18-year-old Kaja – who is barely off screen, as U – July 22 unfolds in

There is another, unfortunate filmic association: Kaja has a slight look of Jennifer

U – July 22 is a gruelling watch. Its pace

sober and powerful rendering of one of the deadliest massacres in 21st century Europe.

Mission: Impossible – Fallout DIRECTOR: Christopher McQuarrie STARRING: Tom Cruise, Henry Cavill, Ving Rhames, Simon Pegg, Rebecca Ferguson, Sean Harris, Angela Bassett, Michelle Monaghan, Vanessa Kirby, Alec Baldwin ON AT: Europa, Glendale Studio, Movieplex Cinema, Grand Cinema & More, Happy Cinema, Cine Globe Titan, Hollywood Multiplex, Cinema City Cotroceni, Cinema City Sun Plaza, Cinema City Mega Mall, Cinema City ParkLake

By Debbie Stowe

and a dash of humor, and it’s all presided

the top of his action hero game – let’s hope he

over by the evergreen action hero with the

chooses to accept a seventh outing.

megawatt smile. Often written off as just a pretty boy, Cruise is actually a talented actor (see Magnolia, Rain Man, Born on the Fourth of July). True, he’s not particularly tested in that regard on his sixth outing as IMF super spy Ethan Hunt, whom the actor could probably play with his eyes closed – except when it comes to the stunts, which he famously does himself.

n action movie “franchise” (ugh) that

The plot – well, do you really need to

started over 20 years ago and is on its

know? International terrorists, plutonium,

sixth installment could, by now, be

surprise returns of old faces, double cross-

limping along, a shadow of its former self. A

ings, latex masks being ripped off, tall

Good Day to Die Hard, anyone?

buildings being scaled – the usual. It can get

But not if Tom Cruise has anything to do

FILM REVIEW

convoluted at times (even a second viewing

with it. Mission: Impossible – Fallout is pos-

didn’t completely clarify everything), but that

sibly the best in the series, brimming with

will never spoil your enjoyment. He might be

brio: the stunts are exciting and elegant, the

bearing down on sixty (despite still managing

characters are punchy, there are clever twists

to look barely forty), but Cruise remains at

www.business-review.eu Business Review | September 2018

46 CITY

Cultural calendar Bucharest Street Food Carnival September 6-9, Romexpo

Akua Naru & The Fresh Symphonic Orchestra September 7, Arenele Romane

By Oana Vasiliu

location of an airport. Already on board: Nervo, Goran Bregovic, Fumiya Tanaka, Thomas Melchior, Maayan Nidam, Herodot, Vama, Addo Snazu, Lamache, Macarie, Herck, Somesan, Bread & Butter, Jonathan Band, Șuie Paparude, Subcarpati, OCS, Gojira & Planet H, Vita de Vie and many more. Subscriptions available from RON 135. and Woodland. Martha Graham

Graced by some of the top inter-

Outernational Days September 19-23, Club Control, MNAC, Anglican Church and Hermitage hub

founded her own company in New York in 1926 to promote

national and Romanian chefs,

Akua Naru (in picture) comes to

and featuring culinary demon-

Bucharest to present her new al-

strations by big names such as

bum, The Blackest Joy. Alongside

Adi Hadean, Nico Lontras, Joseph

her, Alexandra Usurelu will join

in choreography schools. She

Hadad, and Nicolau Tand, the

the six Muse Quartet band, Luiza

danced and choreographed for

Street Food Carnival will mix

Zan will bring the jazz influences,

over 70 years, and worked with

great food with great music.

YCCMD will grace the stage,

Mikhail Baryshnikov, Rudolf

Subscriptions cost RON 39.

while Rammon will heat things

Nureyev, Maya Plisetskaya,

up. Tickets start from RON 59.

Kirk Douglas, Liza Minnelli and

Balkanik Festival September 7-9, Baneasa Railway Station

her own vision of dance, and the Graham technique is still taught

Madonna, among others. Tickets start from RON 100.

David Guerett Concert September 13-14, Sala Palatului Every September, under the label Outernational Days, artists

iMapp Bucharest September 22, Constitutiei Square

from around the globe bring to Bucharest their unique cultures and singing style. Local fans can explore and discover the diversity of world music from Egypt, Iran, Zimbabwe, Russia, Turkey, LebaThe German cross-over violinist

non, Germany, Austria, Poland,

Bucharest’s leading world music

performs impressive covers and

Australia, Switzerland, Sweden

festival welcomes to Bucharest a

original works, and has a strong

and Romania. Subscriptions start

variety of artists with a passion

community of fans in Romania.

at RON 100.

for the music of the Balkans. The

Tickets for this must-see live

line-up usually provides a good

music experience cost from RON

mix of Romanian and foreign acts

140 to RON 650.

that keep the crowds dancing all night. This year, Asaf Avidan (in picture), Yasmin Levy, Fanfara Tirana meets Transglobal Under-

Arad Open Air Festival September 14-16, Arad International Airport

ground, Kroke, Light in Babylon,

Martha Graham Dance Company September 19, National Theater Bucharest

iMapp Bucharest is the biggest 3D video mapping contest in the world, organized annually by Bucharest City Hall. It encompasses one building, more than

The show, part of JTI Encoun-

104 projectors used, 22,000 sqm

ters, includes five choreographic

of projection surface, over 2

and Manonera among others will

It was about time that west

performances: Dark Meadow,

million ANSI light bulbs and one

take to the stage. Subscription

Romania got a festival of its own,

Ekstasis, Lamentation – Varia-

huge stage, the organizers have

cost RON 120.

and this one has the unusual

tions, Errand into the maze,

announced. Free of charge.