MoonshotX is an innovative acceleration program launched by Raiffeisen Bank Romania, in partnership with InnovX, aimed at mid-corporate companies, which it helps to accelerate its growth and expand internationally.
In an increasingly complex business context, with big changes in markets caused by regional conflicts and new technologies that change the course of investments, it becomes more and more complicated to reproduce the success of your business internationally. Fortunately for entrepreneurs who would like to expand their business but feel they need support to take the step towards internationalization, MoonShotX has appeared, a program that provides access to know-how and an extensive network of specialists from companies like Raiffeisen Bank International, InnovX, Microsoft, UiPath, DLAPiper, EY, who can guide entrepreneurs on their way to scaling.
Launched in June 2024, MoonShotX has already enjoyed increased interest from entrepreneurs. Following the registration phase, 22 companies out of over 760 analyzed were chosen to participate in the program.
The MoonShotX program runs from September 2024 – June 2025 and includes diagnostic sessions, executive acceleration bootcamps, personalized mentoring sessions and regional scaling events in Austria, Croatia, Czech Republic, USA and UK.
To learn more about how such a project can transform your company from a local business to an international business, HotNews spoke about MoonShotX with Daniel Dumitrescu, CIO, co-founder of InnovX, and Aimen Aldahash, Microsoft ISV Partner Development Manager for Romania, Hungary, Czech Republic and Slovakia and program mentor.
What inspired you to create this MoonShotX program and what made you choose mid-enterprise companies?
Daniel Dumitrescu: I will start with a history of InnovX. In the last 5 years, we have mainly carried out acceleration programs for start-ups and scale-ups, focused on technology. After 5 years we have proven that we do what we do well. This year the Financial Times declared us the best accelerator in Eastern Europe, number 11 in Europe and the UK, which for us was a confirmation, as the program was developed following a research in the area of Central and Eastern Europe.
Many of the insights gained during those periods were validated, and after five years, we have several European-level start-up projects that have continuity. Both with the European Innovation Council, part of the European Commission, and with the United Nations, the Industrial Development Organization and more recently with two grants, where consortia of companies in the region approach cybersecurity start-ups, a program dedicated to start-ups and European female-led deep tech scale-ups where we fund POCs. We have a budget of 1.2 million euros for 20 POCs of 60,000 euros each, to connect start-ups with corporations. From this point of view, I say that, in our CEE area, we have consolidated on start-ups, the team has been consolidated, the methodology has been consolidated.
Being in the area of innovation, I am in the area of program development and I am always excited by a new challenge. Participating in many programs and events in the last year, such as the conferences of the Three Seas Initiative, but also seeing all the geopolitical initiatives in the area, on the Black Sea, with an emphasis on encouraging interconnection, cooperation projects between CEE countries, I realized that there is an uncovered market, where mid-corporate companies that have already demonstrated in Romania that they are market leaders, could either expand regionally in CEE, or enter into partnerships with other companies in the area, so that the entire region consolidate and become a space where innovative companies not only leave, but stay, grow and even lay a good foundation for future developments at the global level.
And here we were lucky enough to, together with our colleague Ana Bobircă, who is the Chief Investment Office at InnovX, meet for a coffee at the beginning of the year with Cristian Sporiș, the VP of Corporate at Raiffeisen Bank, who has a very good understanding of the entire region and the role that Romania can have in this area, and together let's see that there is an alignment of objectives: to support mid-corporate companies to scale regionally and, why not, to access as many of these new products and financial instruments, which are related to the Three Seas Initiative. Here we also discuss the new NATO funds, for example, which address the resilience of critical infrastructure (digital, energy). There are many opportunities emerging, Romania is an increasingly important country in the region.
The proposed project somehow aligned with the leadership vision of the president of Raiffeisen Bank and with Laura Mihăilă, Marketing Director of Raiffeisen Bank, who comes with this area of ambition to bring dynamics to the entire program. This is where the stars aligned, that's why we went to this astronomical moon area.
You actually mentioned that the MoonShotX program is based on ambitious ideas, and I remember reading somewhere that they are very similar to J.F.'s talk. Kennedy and the space program. How do you see this parallel?
Daniel Dumitrescu: This program is made and customized with Raiffeisen Bank and highlights their capabilities and international network in the region. The President of Raiffeisen Bank inspired us, but there are also some insights into economic trends from Gartner, who last year said that by 2025 companies' appetite for moonshot investments will increase, so high risk, high profitability, through these turbulent periods of crisis. We successfully got through a pandemic, now here we are in a regional conflict zone and we're trying to get over it, this resilience has increased and companies are even looking at this kind of projects.
Having the "moonshot" theme, we tried to have everything superlative, from the tallest building in Romania to the best speakers. We saw that this concept was initiated during JFK's speech in 1962 which really defines this concept very well. Ambitions for which we value all our capabilities. It's not easy, but for us it aligned with our challenge.
How did Microsoft get involved in this project?
Aimen Aldahash: First of all, we already had a collaboration, since 2019, with those from InnovX. When I found out about this new program, where it wasn't just start-ups anymore, but already mature companies looking to scale and not just tech companies, it made things that much more exciting.
We say that in the future all companies will be technology companies to a lesser or greater degree and, when we were invited to be part of this new program, it is obvious that InnovX had the support of the entire Microsoft Romania team and regional. Some of us are active mentors within the program and we even work privately with certain companies in the program who want to understand a little more applied to their business model.
How is it better to work with start-up companies or with mature ones?
Aimen Aldahash: There are different challenges. A company at the beginning of the road really does not know which would be the safest way, but it is more flexible. He has this freedom. It is a relatively small team, at the beginning of the journey, their operations are not cemented. A mature company knows better what it wants, understands better how to be profitable, but it is much harder to change, because it has to be changed in depth, processes, teams, mentalities.
How do you see the convergence of these emerging technologies: AI, cloud computing?
Aimen Aldahash: These are the technologies that can help any company, but especially mid-corporate ones, to reinvent themselves. To reinvent their products, concepts and become more competitive. We have already reached a stage where you can no longer scale without technology, without transforming digitally beforehand, to have a data estate, on which to come with the AI component, because we cannot talk about AI without a solid technological foundation.
Mention exponential technologies a lot in presentations. What would these be?
Aimen Aldahash: First of all AI. Generative AI is a particular type of artificial intelligence technology that can unassisted create text, video, image, sound content. Besides the very obvious impact in this commercial area, backend engines prove to be very useful for all things analytics and backend work. And even a small and medium-sized company can use those insights, that data, from public information.
How is Microsoft helping those companies implement these technologies within MoonShotX?
Aimen Aldahash: There are companies that operate in the IT field, and there we are talking about the products they offer to customers. They can also be services, they can help other companies to transform digitally. And there are companies that are not necessarily in IT, and for those companies we look internally, to see how technology can be used to improve efficiency: processes, decision-making, flows, operations.
How does this program support selected companies to expand regionally and globally?
Daniel Dumitrescu: I started from the technological paradox: there are a lot of emerging technologies, unfortunately a much too low adoption by start-up companies and corporations. We are trying to intervene here together with colleagues from Microsoft, but also from the other technology companies, first of all by informing the mid-corporate companies about the existence of these technologies and then slowly trying to force an adoption, of course it depends on them, that we do it through case studies.
During this MoonShotX program, apart from the fourth day which was exclusively dedicated to technology, we had guest speakers both from purely technological companies who came with concrete case studies and showed us how they use exponential technologies, such as Andrei Văcuț from UiPath, who introduced us to the business area, to other multinational companies in the retail area, who presented us with how they used AI to streamline certain logistics flows, transportation through IOT, and how they succeeded 24 out of 24 to automatically monitor these transports, the need for permits.
We try to show companies that there are benefits. From my point of view, these emerging, exponential technologies are new infrastructures, like energy infrastructure, GPS. By building on top of them you can open new business opportunities. Everyone does their own analysis and sees what works or doesn't work for them.
During the technology day we had experts from Microsoft, who presented these technologies, but also some very interesting programs carried out by them, growth, cost-selling, marketplace and guests from those companies that were successful also due to convergence technologies with Microsoft. For example, UiPath, our first unicorn, who continues to work with us and have a mutually beneficial partnership even now. Another example, FintechOS, but also other companies in other fields, not necessarily technology, which started to streamline their internal processes with tech.
The fourth component is that we also opened their eyes to technologies from start-ups and scale-ups, not as infrastructure, but as technologies that can be adopted by them through the partnership that InnovX
it has it with the European Innovation Council, where we have access to more than 7000 companies from all over Europe, which have been evaluated as very innovative by the European Commission, with which we can create partnerships, adopt technologies.
What parts of the program most help companies break into a new market?
Daniel Dumitrescu: We have the internationalization section where we invite those entities, foreign trade departments, departments of foreign embassies, which help for a successful soft landing in the respective countries. They have this in their job description, they already do it very well, they evaluate companies if there is interest or potential to enter the market, they provide their entire networking infrastructure, they assign project managers to enter the respective countries.
On the fifth day we had representatives of Croatia, Austria, UK, US. The UK ambassador gave a speech at the launch of the program. On Friday, on Internationalization Day, the day was opened by the Croatian ambassador. Experts from the UK-Romania bilateral chambers also joined. They come with programs already designed, they are very pragmatic. If there is interest, then also support these companies.
Another scaling method is by entering Romania and accessing multinational companies that are active in the region as clients. In time, if the product is well received by these multinationals, we can justify that it can be replicated in the other countries in the region. It is a very good scaling channel. It is this stamp of trust that is given to companies that have been tested and incorporated into multinationals and then it is much easier for them to scale. And of course partnerships with global technology companies, such as Microsoft.
**Aimen Aldahash: **When it comes to innovation, Microsoft has programs for companies at a certain stage in their life. If we are talking about a start-up, there is a dedicated program called the Microsoft for Start-ups Founders Hub, whose role is to help these companies access the R&D, innovation side. They have access to all the Microsoft technologies they need to build robust, secure, and scalable software. As we look at a company that is ready to scale we have exactly the programs you mentioned. We have a program called Co-Sell, a global program where companies interested in joining forces with Microsoft can engage Microsoft sales teams around the world. A Romanian company that wants to sell on the Argentine market can do so with the help of the Microsoft Marketplace, which is a platform through which these companies can benefit from the Microsoft umbrella, have access to customers.
These programs are primarily dedicated to the mid-market, mid-size, mid-corporate and enterprise customer segments, meaning exactly those companies that have assigned sales teams from Microsoft, so that there is someone from us who understands which are the needs of the customer and to be able to help the partner who wants to sell together with Microsoft, on our platform.
We are also a product company, we have a lot of products, but we are also a platform company. First of all, the cloud platforms, the AI infrastructure platform, Microsoft Azure, the communication platform, i.e. Teams, and the business applications platform that also includes the RPA and automation component. Basically, partners who develop solutions over these platforms can access programs such as the Marketplace part and the Co-Sell program.
Some companies position themselves as pure product companies, they own the intellectual property, and in this case their customers benefit from the technology using the product. But there are also systems integrator companies, custom software developers, that provide certain services specifically for the needs of a certain client.
Daniel Dumitrescu: Somehow what is new here, over all these types of structures and institutions that help scaling, basically what we have achieved at MoonShotX this year is that through the network and infrastructure of Raiffeisen Bank we can follow and go with them in these countries. When we go next year in this stage of regional scaling in the Czech Republic, in Austria, in Croatia, we will be accompanied by Raiffeisen representatives, who in collaboration with their regional teams, will in turn facilitate meetings with potential customers and partners. During the program, customized financing solutions will also be developed to accompany these scaling efforts, because Raiffeisen is one of the best banks in the region on trade finance, one of the best banks serving VC private equity investment funds and with an investment banking team.
In this bootcamp there is also a section called MoonShotX Canvas. What is it about?
Daniel Dumitrescu: It is a methodology that we designed to highlight all the benefits that Raiffeisen makes available to participants, it is customized for CEE companies. It is our innovation, that of InnovX, Raiffeisen Bank and several partners. It's a pilot program that we positioned as a co-design one, where we encourage partners and participants to develop it together, it's quite agile, we test, we see what works, we pivot quite quickly.
This first week brought together C-level representatives from these companies, people for whom time is very precious and I thank them once again for the vote of confidence, many coming from the country even five in different positions, finance, sustainability , marketing. Already for us this is a success criterion of the program.
It is precisely for this reason that the MoonShotX Canvas was addressed to them and is a strategy document thought out together. It was quite intense, but not at the level of the next stages. We still want to build a business plan that can be used for most financiers, banks, investments, somehow with a 20% customization for each financial institution, which will go into much more detail, but here the foundations of the project launch have been laid MoonShotX, were exposed to all this information, there was networking with prominent representatives of all financial institutions, from the BVB president to the coordinator of the European Innovation Fund, EBRD representatives, Raiffeisen representatives, UNIDO representatives, those who launched these sustainable development goals.
The program was designed for their level, of companies that have shown that it is possible, have grown organically and are leaders. That's why it was necessary to invite the most relevant speakers and the most interesting case studies, where they choose what works for them. After the first week we have several canvases (one even had both technological support on the laptop, but also physically) that created the image of the next steps, but especially for this year of MoonShotX.
Which elements did you find most relevant from this bootcamp?
Daniel Dumitrescu: He starts with MoonShotX Vision and Values, to define his values. A company from Iasi really inspired me because it had no bullshit values. On the Vision and Mission side, I was inspired by the charisma of the founder of UiPath, Daniel Dineș, who cares a lot about this definition of the company, to which every employee must adhere. I saw extraordinary things and managed to attract extraordinary professionals to this adventure. Then the financing part, of course, they either choose the area of organic growth or access various financings.
The third day was on the area of sustainability and what these global challenges mean, the realization that if we do not pay attention to the area of sustainability, some businesses may no longer exist in the future. I see it as an opportunity and I've seen many companies that see it the same way. They need to eliminate this fear of greenwashing.
Then the international scaling part, the technology and finally the branding, Because without a branding and marketing strategy it's hard to enter different countries, often the local culture beats the strategy and you have to align to have the right message.
Aimen Aldahash: I see branding as linked to the area of culture. The most important thing for a company that is either starting out or reinventing itself is that there must be consistency.
Daniel Dumitrescu: I had a masterclass by Laura Mihăilă on branding. It was already Friday evening, six o'clock, we were finishing at five and the companies were still waiting and wanting more, more, more.
What are the advantages of the companies in the partnership programs with Microsoft?
Aimen Aldahash: In addition to the fact that there are co-investment programs for innovations, where a Microsoft partner wants to win a new customer or develop a new product, there can be various support mechanisms from Microsoft, but by far the most important for them it is know-how transfer. In the context where Microsoft has the greatest focus on everything this emerging AI technology means, with all its subdivisions, we have dedicated teams that can help our partners step by step on various projects and engagements. From this point of view our partners can rely that what they deliver is a product that will stand the test of time. When the end customer sees that the partner is supported by a global technology service provider like Microsoft, the conversation changes.
How can Microsoft help businesses innovate more in the future?
Aimen Aldahash: Right now a foundation is being built for scaling, because when certain companies, regardless of the setup they have with MoonShotX, they can work later, even if they are no longer in the program, together with Microsoft, on growth in focus markets. This is not an ending episode, it is lifelong. As long as there is value in what that company offers and they see value in Microsoft's scaling programs and want to scale we work together.
What are MoonShotX's long-term goals?
Daniel Dumitrescu: This is a pilot project and together with our colleagues from Raiffeisen we want it to be a successful one. One thing that predicts success is the involvement and availability of Raiffeisen colleagues from top management to C-level. Up to 12 financial analysts spent one to two hours with each company, on the day of Finance, to write the financial forecast. They will still be available.
After these MoonShotX Canvases are finished and we go into business plans, colleagues from Raiffeisen will come and propose financial instruments, personalized financing plans, which is a very good thing. The most important thing is to bring added value to these companies. Let us be open to their feedback, adapt and help them. Now not every company can become a unicorn and be listed on the New York Stock Exchange, but I believe that many companies can develop in the region, create new jobs, be sustainable and have these values integrated into their DNA. The fact that some were already doing this makes us happy.
How do you see the future of mid-corporate companies in Romania in this context of globalization, of the economic challenges of this period?
Aimen Aldahash: If we look at how most industries have transformed in parallel with the IT industry, we can say that in the latter there are no longer barriers to entry. No investment required, no complex infrastructure required. Any company that looks a little more closely at this topic, whether it's in IT or outside of IT, but looks to use it as a transformation tool, has every chance of being successful. From this point of view, I think that Romania is very well positioned as a reservoir of IT talent, because if we look at the number of certified specialists, per capita, we are in first place in Europe and sixth in the world. We are better off than the Americans. I think Romania has the right mix of culture, education, business environment so that it becomes a digital superpower.
Daniel Dumitrescu: Yes, a regional digital superpower, a superpower in the energy area, to ensure the energy security of the entire region. We already see all the investments being made to accelerate the transition to Net Zero, decarbonization, new nuclear energy generation solutions being piloted in our country, the investments from the Black Sea. All these large infrastructure investments, which have international geopolitics behind them, have related financing, and around them many other companies and solutions can develop that serve, modernize and make these new investments much more efficient. From investments in new building materials, new types of energy, to investments in cybersecurity. Central and Eastern Europe now has visible economic growth. We, the Romanian companies, can be suppliers for as many of the regions as possible, we are a big market, we are relevant, we can export this know-how in the region and the interconnection will help to increase the local market, let it not be only Romania, let it be CEE .
If you had to give two or three pieces of advice to the MoonShotX companies what would you tell them?
Aimen Aldahash: Whatever happens, follow the program. The structure is a very good mini MBA, no matter what stage the company is at. Microsoft turns 50 next year and has reinvented itself countless times because otherwise it wouldn't be relevant. Especially now, in a world where we see changes generated by AI every day, any company should take this component more seriously.
Link to video interview: https://www.youtube.com/watch?v=CzY8WDMGgxA