Call for Youth of Istočno Novo Sarajevo to Submit Their Business Plans by February 13

Pursuant to the Cooperation Agreement between the Isto?no Novo Sarajevo Municipality and the Institute for Youth Development KULT (No 01/I-013-1098/14 from September 30, 2014), the Budget of Isto?no Novi Sarajevo Municipality (Offical Gazette of the City Isto?no Sarajevo, No 13/14), the Municipal Mayor is publishing a

PUBLIC CALL for funding the best youth startup

The financial support provided by the Isto?no Novo Sarajevo Municipality is aimed at encouraging youth to start their own businesses. The implementation of these activities is undertaken by the Isto?no Sarajevo Municipality pursuant to strategic documents of the Municipality. This programme defines the details such as the right to participation, organization of the contest and the manner in which the best ideas will be selected, as well as signing contracts with those who decide to proceed with the implementation of the business plan they submitted.

Who is eligible?

All natural persons are eligible, whether individually or in teams, provided that at the time of the application they are not considered entrepreneurs, even if they previously were. All persons of legal age may apply, provided that they are not older than 35, that their registered place of residence is in Isto?no Novo Sarajevo, and that they have an interesting business idea they want to implement by starting their own business on the territory of Isto?no Novo Sarajevo municipality. Participation of teams of several young people is expected and encouraged. A business plan has a better chance of succeeding if it has relevant and realistic indicators of success. One team, or an independent applicant can apply with more than one business idea. The same person cannot be a member two teams, nor apply both independently and as a team.

Who is not eligible?

Persons over the age of 35 are not eligible. Incomplete applications of applications sent after the deadline will not be taken under consideration.

What type of idea can be presented in the form of a business plan?

The idea must be presented in the form of a business plan, pertaining to any area except trade and hospitality industries (unless the idea is original and related to tourism and domestic products), and the business must be started in Isto?no Novo Sarajevo. The idea should be presented in the form available for download at www.opstinains.net. The applicants have the sole responsibility for the originality of the idea. The evaluation committee will evaluate the business plan in accordance with the determined criteria. Advantage will be given to unemployed applicants, team applications, with the proviso that the quality of submitted applications is approximately the same (up to 5%).

Stage 1

The public call will be open from December 25, 2014 to February 10, 2015.

Stage 2

The results of the public call will be published by February 17, 2015, followed by interviews and the final decision on signing the contract.

Stage 3

The contract will define the rights and obligations of the Isto?no Novo Sarajevo Municipality and the applicant.

Confidentiality of the submitted business plan

In order to protect all applicants and prevent the misuse of confidential information in the business plans, members of the evaluation committee, employees of Isto?no Novo Sarajevo Municipality and other persons included in implementing this programme are bound by obligations of confidentiality.

The Municipality will also provide an instruction session during which all candidates will be given instructions on completing the application form and will have an opportunity to ask additional  questions. The session will be held on February 2, 2015, in the hall of the Isto?no Novo Sarajevo Municipality, beginning at 11 am. Other sessions will be held as needed. The Isto?no Novo Sarajevo Municipality will provide financial support to one successful business by covering the registration expenses, part (or entire amount) of the rent cost for the first three years, and part (or entire amount) of contributions to healthcare and pension funds. If a business plan is considered viable, but the author is not willing to implement it, such a plan will be offered to others who may be interested in implementing it, and the author of the plan will be reimbursed. The Isto?no Novo Sarajevo Municipality will refer all other applicants with successful business plans to alternative funding sources.

Goals of the Public Call

Encourage an entrepreneurial spirit among youth, motivate students, inexperienced and creative individuals with innovative and implementable idea, training on the process of creating new business opportunities, enabling young people to start their own businesses.

Send applications in a sealed envelope with the name of the sender and a note: “Application to the Public Call for funding the best youth startup” to the following address: Opština Isto?no Novo Sarajevo, Stefana Nemanje br. 2, 71 123 Isto?no Novo Sarajevo or submit it yourself to the Municipality’s Protocol Office.