Public call for participation in the IMPAKT incubator of business ideas

Introduction

The IMPAKT Investment Foundation Sarajevo and the Youth Employment Project (YEP) have, in the period from 2018 to 2021, collaborated with 55 local communities and public employment services in Bosnia and Herzegovina to implement the IMPAKT Incubator of Business Ideas. This initiative supported the establishment and improvement of over 300 new business ventures across Bosnia and Herzegovina. The IMPAKT Investment Foundation continues its activities aimed at supporting entrepreneurship development and preserving jobs for entrepreneurs and small businesses in collaboration with local communities, cantons, and employment services in Bosnia and Herzegovina. More information about the Incubator of Business Ideas is available at www.impakt.ba.

As part of the joint collaboration between the IMPAKT Investment Foundation and the City of Bijeljina in 2022, the IMPAKT Incubator of Business Ideas program will be implemented. This program will include entrepreneurial training and financial, expert, and mentorship support for the highest-rated business ideas in the Bijeljina area, in accordance with the available financial resources for supporting entrepreneurs.

This public call is issued for the purpose of applications to participate in the entrepreneurship development program, IMPAKT Incubator of Business Ideas, for the year 2022.

Description of the program

The IMPAKT Incubator of Business Ideas is a comprehensive program for incubating business ideas, providing support for their implementation. It consists of the following components:

1.      Entrepreneurial training lasting for 6 days over a maximum period of 2 months, focusing on the development of a business plan and business model, as well as strengthening entrepreneurial skills. Participants receive continuous expert and mentorship support from trainers in task completion and the finalization of the business plan and business model.

2.      Preparation and presentation of business ideas to a professional commission for the evaluation of business plans and business models.

3.      Awarding non-repayable financial support of up to 5,000 BAM for the best positively evaluated business ideas in the territory of the City of Bijeljina, in accordance with the available financial resources for supporting entrepreneurs.

4.      Expert and mentorship support in the further growth and development of the business according to assessed needs.

All the listed forms of support will be offered only to entrepreneurs who successfully complete individual cycles of the program. Support in each subsequent cycle is conditioned by the successful completion of the previous business idea incubation cycle. In case of non-fulfilment of obligations by the users, the IMPAKT Investment Foundation and representatives of the City of Bijeljina reserve the right to exclude any entrepreneur from the support process at any time.