Locations320,000 KM Allocated to Support Start-Ups and Young Entrepreneurs through Business Services
April 27, 2023
The Federal Minister of Development, Entrepreneurship, and Crafts, Amir Zukić, and the Resident Representative of the United Nations Development Programme (UNDP) in BiH, Steliana Nedera, have signed an agreement at the headquarters of the Government of the Federation of Bosnia and Herzegovina in Sarajevo. The agreement pertains to the implementation of activities aimed at strengthening business support services, which are carried out within the "Better Governance for Faster Economic Growth (EGG2)" project. The EGG2 project is a joint initiative of the Government of Norway and UNDP in BiH, launched in 2021 with the aim of providing conditions for stronger economic growth, with a focus on education, entrepreneurship, and innovation.
The aim of the signed agreement is to stimulate the establishment of new and improvement of existing business support services in FBiH, with a special focus on start-up companies and young entrepreneurs.
As part of the agreement, the Federal Ministry of Development, Entrepreneurship and Crafts, in cooperation with UNDP, will announce a public call for selecting qualified organizations that provide business support services in the territory of the Federation of BiH, which will be awarded incentive funds under the EGG2 project. The grant scheme will be implemented in accordance with the best practices of supporting local and regional development applied in EU countries.
The total amount of available incentive funds within this public call is 320,000 KM, of which FMRPO allocates 200,000 KM, while the EGG2 project will provide 120,000 KM- Amir Zukic, Federal Minister of Development, Entrepreneurship and CraftsAmir Zukić, the Federal Minister of Development, Entrepreneurship, and Crafts
It is expected that service providers or applicants participating in the call propose projects primarily focused on start-up companies and young entrepreneurs in one or more key areas.
“Primarily, this refers to business support services related to digitalization of business processes, strengthening entrepreneurial skills and technological capacities for business incubation, establishing new or strengthening existing training and mentoring programs for startups and young entrepreneurs, as well as support for business development, improving competitiveness and introducing innovative business models," said Minister Zukić.
According to the UNDP Resident Representative in BiH, the EGG2 project, within its entrepreneurship strengthening component, supports the development of a successful entrepreneurial ecosystem by removing barriers for new entrepreneurs and providing access to quality business support. We closely collaborate with relevant authorities to create formal and informal opportunities for entrepreneurial learning, thereby strengthening the skills, knowledge, and abilities of future entrepreneurs.
"Our partnership with the Federal Ministry of Development, Entrepreneurship, and Crafts for the implementation of the grant scheme aimed at strengthening business support services in FBiH is crucial for us. It is a step forward in enabling the growth and development of entrepreneurship and promoting economic growth and competitiveness"Steliana Nedera, UNDP Resident Representative in BiH
She believes that supporting further development of business support structures is of great importance, as they play a crucial role in the innovation ecosystem and stimulating a conducive environment for start-ups and ambitious entrepreneurs. This will also contribute to the economic empowerment of women, which is a key component in reducing poverty and promoting inclusive development.
