1.2 million KM grant funds available for investments from the diaspora



Startup Studio in cooperation with 18 municipalities and cities launches a program to support people from the diaspora who want to invest in new or existing business ideas in one of 18 local communities: Bihać, Bosanska Krupa, Cazin, Doboj, Gračanica, Gradačac, Jajce, Ključ, Lopare, Ljubinje, Modriča, Novi Grad, Ravno, Tešanj, Usora, Velika Kladuša, Zavidovići and Živinice.

Depending on which community you want to invest in, you can apply for grants in the amount of 20,000 KM to 60,000 KM, and the total available fund is 1.2 million KM.

Who is this call for applications for?

It is intended for legal entities or natural persons, who have started or are starting a business in one of the eligible communities, and whose ownership structure includes a member of the diaspora.

This call for applications considers a person from the diaspora to be a person who has lived in the diaspora for at least two years from the date of publication of this invitation and has significant ties with BiH.

A person from the diaspora is also considered to be a person who has returned to BiH and has a permanent residence in BiH no longer than two years before the announcement of the invitation.

Who can apply for a grant?

1. Registered small and medium enterprises which:

·         were established in one of the above municipalities and cities;

·         owned or co-owned by a person from the diaspora (at least 25% of the capital), which they prove with a valid establishing act and / or an excerpt from the Register of Company Establishments;

·         are established up to 12 months before the date of publication of the call;

·         operate as a limited liability company (d.o.o.) or will be registered as such in the following period in this form.

2. A person or persons from the diaspora who intend to establish a company in the form of a limited liability company (d.o.o.) with registered ownership or co-ownership (at least 25% of the capital). The company must be established within 90 days from the date of signing the grant agreement.

 What are the requirements for applying for a grant?

1. Co-financing of an existing company or future business venture in a minimum ratio of 1:1. Through this call, the applicant is expected to co-finance a business venture in the same amount received from the grant, by:

a) at least 50% of the participation of the requested amount is co-financed in cash, the transfer of which will be proven by a financial document and will occur before the transfer of the grant;

b) the remaining 50% can be shown through the value of equipment, standardization, training, certification, etc. If the need arises, the Commission may request confirmation of the non-monetary value through a court or assessment by a certified expert.

For example: If you apply for the amount of 40,000 KM, the applicant invests the same amount, with at least 20,000 KM must be a cash contribution, and the remaining 20,000 can be in a non-cash contribution.

2. The company or the applicant (a person from the diaspora) is not financially supported through other programs intended for the development of business ventures of the people from the diaspora, ie Diaspora Invest (USAID) and Diaspora for Development (D4D - UNDP).

3. It is possible to apply for grants in the amount of 20,000 KM to 60,000 KM, depending on the availability of the Fund of the selected local community. The maximum amount of available funds per application will be displayed at the local community showroom on the “lonac eXpo” platform.

4. This call is open to applications for business ventures from all industries. In case the number of applications exceeds the amount of funds available in local funds, priority will be given to proposals for business investments in sectors such as agriculture, energy, tourism, metal processing sector, wood processing sector and other production and processing sectors, as well as information and communication technologies (ICT).

5.  It is not possible to apply for funds for unethical industries and activities such as weapons production, games of chance, adult entertainment industry, etc.

Steps in the application process?

·         The first step is to visit the lonac.pro eXpo.

In the hall, select the Expo Hall "Invest in BiH", you can see the virtual stands of 18 municipalities and cities with available funds for grants.

In addition to insight into available funds, here you will be able to contact the local diaspora coordinator from the selected municipality or the city and find out about other resources.

        If you already know which local fund you will apply for, fill in the application form "Expression of interest form” at the selected virtual stand of the municipality or the city in the section "Current offer".

        It takes 10 minutes to fill out the Form. After you fill it out, we will contact you within 10 days with further instructions.

Note: Please submit the application and documentation in electronic form via “the Form”. An overview of the partner municipalities and cities involved you can find here.