INNOVATIVE STARTUPS AND LOCAL DEVELOPMENT - THE CASE OF THE NORTH-WEST REGION OF ROMANIA

This article analyses the role and importance of new startups, especially innovative ones, in the regional context. What is more, we aim to assess the impact of measures at the local government level, meant to improve the business environment. In practical terms, we have addressed the situation of the startup sector in a developing region of Romania, namely the North-West Region, and, in two important cities located in this area - Cluj-Napoca and Oradea. The theoretical part has the task of discussing the main theories and contributions regarding aspects of the business environment and future opportunities that shape the creation of startups and how they will develop. At the same time, the theoretical part deals with finding and analyzing the factors that influence startup creation. Based on the theoretical foundations, a comparison between two selected areas has been made numerically (using quantitative comparison), and from the perspective of the future impact that innovative, fast-growth-oriented startups can have on the economic and social dynamization of the cities and regions in which they operate. Finally, we have analyzed the extent to which the development of this sector can influence and support the creation of a dynamic entrepreneurial ecosystem, a solid infrastructure, that supports medium and long-term economic growth in these areas.