New swedish initiative to support bih enterprises

The Embassy of Sweden in Sarajevo is launching the Challenge - an invitation for companies to compete for financial support for their business ideas. The first call for proposals will be open 15 October – 30 November 2013. 

The purpose of the Challenge is to support the private sector in Bosnia and Herzegovina by providing grants, i.e. non-repayable funds, to project proposals that deliver both commercial benefits for the private sector and developmental benefits for the population in BiH, in terms of for example job creation and income improvements. The grants will give enterprises the opportunity to implement innovative and commercially viable business ventures in BiH.

The fund will award grants to provide partial funding, of up to 50% of accepted proposal budgets (with a maximum grant size of EUR 30 000), to registered Bosnian and Swedish micro and small enterprises operating, or setting out to operate, in BiH.

Hence, the companies applying should be willing to enter a 50% cost-sharing venture and, over the span of 12 months, dedicate their time and efforts to launching or improving innovative and commercially viable business ventures.

There will be a total of three calls for proposals during the period 2013-2015 and the grants will be given for a one-year period in the normal case. In total an estimated SEK 4,5 million (approx. EUR 500 000) will be provided in grants, i.e. there will be several winners in each round.

“The companies compete for financial support for their business ideas but the basis for their proposals should address a developmental issue, where job creation and income improvements will be central,” explains Pelle Persson, Director of Development Cooperation at the Embassy of Sweden.