The Institute for Youth Development KULT held initial meetings with the municipalities participating in the initiative Youth startup businesses funded by local communities. As part of the initiative, which aims at promoting self-employment as the most sustainable and resilient form of employment, the local communities will provide financial support for youth startup businesses, and in cooperation with the Institute, provide the young entrepreneurs with advisory support in starting and running their own business.
The Institute’s representatives held meetings in the following municipalities: Gra?anica, Vlasenica, Novi Travnik, Kakanj, Isto?no Novo Sarajevo, Isto?na IlidĹľa and Bosanska Krupa.
The meetings were held in order to discuss the details relating to publishing the public call, the number of funded startups, ensuring the transparency of the selection process and awarding funds, active participation of employment bureaus as intermediaries, and involving successful entrepreneurs from the primary sector in the process of creating the criteria and evaluating applications.
All local communities participating in the project will be provided with a model for funding startups, created by the Institute by committing to paper the practices of TeĹˇanj Municipality, which recognised self-employment as an important step towards addressing youth unemployment, and has been successfully providing young entrepreneurs with financial and advisory support for 4 years.
Public calls for funding youth businesses are expected by the end of December, after which the local communities, in cooperation with the Institute, will begin the second stage of the initiative – providing youth with support in implementing their business plans and running sustainable startups.