In BiH there are many innovative business ideas that have not been implemented due to a lack of risk sharing capital. Given the current situation in BiH, Sida has identified the need to develop new instruments supporting innovation and business growth and therefore supports the establishment of the Challenge to Change in Bosnia and Herzegovina.
The total budget of the Challenge to Change is approx. 5 million EUR with Challenge Fund in the amount of 3,9 million EUR available to business entities from all over Bosnia and Herzegovina and from Sweden, as well as startups that have innovative business ideas, products or services which may lead to increased employment, increased competitiveness and sustainable socio-economic development in BiH. Companies that meet the established criteria can receive a co-funding grant amounting to a maximum 30.000 EUR, up to 50% of the investment costs.
The possibility of making use of the experiences of the Bosnian Diaspora in Sweden will also be explored. There is significant BiH Diaspora in Sweden, with great interest in contributing to the development of BiH.
We hope to contribute to increased employment, women’s economic participation, and general economic growth.